Data rss

August Personal Consumption Softens while Income Rises

Personal Consumption Expenditures (PCE) was effectively unchanged in August, standing at $11.5 billion, according to the most recent data release from the Bureau of Economic Analysis. Meanwhile, personal income rose by 0.2%, almost half of the gain in July.  The gain in personal income was the weakest since a drop in February, as wages, the largest component, only increased 0.1% after… Read More ›

A Third Look at GDP Growth in the Second Quarter

The Bureau of Economic Analysis (BEA) released the third estimate of real GDP growth for the second quarter of 2016. Real GDP grew at a 1.4% seasonally adjusted annual rate, up modestly from the 1.1% previous estimate. Personal consumption expenditures were slightly weaker, investment was less negative based on less drag from the energy sector and equipment spending, government spending… Read More ›

Pending Sales Decline

The Pending Home Sales Index decreased 2.4% in August, declining for the third time in four months, and falling 0.2% below its level for the same month a year ago. The Pending Home Sales Index (PHSI), a forward-looking indicator based on signed contracts reported by the National Association of Realtors (NAR), decreased to 108.5 in August from a downwardly revised… Read More ›

Consumer Confidence in September – Another Optimistic Month

The Consumer Confidence Index, reported by the Conference Board, rose in September. Compared with last month, consumers were more optimistic about both the current situation and the near term outlook. The Consumer Confidence Index rose to 104.1, from 101.8 in August. The present situation index rose to 128.5, from 125.3, and the expectations index increased to 87.8, from 86.1. Consumers’… Read More ›

New Home Sales: Solid August Follows Hot July

Sales of newly-built, single-family homes fell 7.6% on a monthly basis in August to a 609,000 seasonally adjusted annual rate according to estimates from the Census Bureau and HUD. However, the monthly change masks the fact that the August pace of new home sales was the second strongest since the end of the Great Recession. New home sales for August… Read More ›

Existing Home Sales Fell in August

Existing home sales, reported by the National Association of Realtors, soften further in August. Total existing home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, declined to a seasonally adjusted annual rate of 5.33 million units from a downwardly revised 5.38 million units in July. Existing single family sales fell to a seasonally adjusted annual… Read More ›

August Construction Employment Growth by States

NAHB’s analysis of August regional employment data from the Bureau of Labor Statistics (BLS) shows that states with the highest annual growth rates of total construction employment are Iowa (18.68%), Hawaii (12.25%), and Colorado (11.31%). The total number of workers in construction reached 6.7 million nationwide, up by 3.13% annually. At the same time, the largest construction jobs gains happened… Read More ›

Home Equity Growth Even as Homeownership Declines

According to the Federal Reserve Board’s second quarter of 2016 release of its Financial Accounts of the United States report, household holdings of real estate, measured on a not seasonally adjusted basis, totaled $22.290 trillion in the second quarter of 2016, $1.388 trillion higher than its level in the second quarter of 2015, $20.902 trillion. At the same time, home mortgage debt… Read More ›