Real gross domestic product (GDP) increased in 49 states and the District of Columbia in 2023 according to the U.S. Bureau of Economic Analysis (BEA). Delaware is the only state to report an economic contraction last year. The percent change in real GDP ranged from a 5.9 percent increase in North Dakota to a 1.2 percent…
Consumer confidence held steady in March, with optimism about current conditions offset by concerns about the future economic outlook. This pessimism was primarily driven by persistent inflation, especially elevated food and gas prices. The Consumer Confidence Index, reported by the Conference Board, stood virtually unchanged at 104.7 in March, the lowest level since November 2023….
Nonfarm payroll employment increased in 43 states and the District of Columbia in February compared to the previous month, while seven states saw a decrease. According to the Bureau of Labor Statistics, nationwide total nonfarm payroll employment increased by 275,000 in February, following a gain of 229,000 jobs in January . On a month-over-month basis,…
Pent-up demand, moderating interest rates, and a lack of existing inventory helped push single-family starts in February to their highest level since April 2022. Overall housing starts increased 10.7% in February to a seasonally adjusted annual rate of 1.52 million units, according to a report from the U.S. Department of Housing and Urban Development and…
According to the Federal Reserve’s G.19 Consumer Credit Report, student loans in the fourth quarter of 2023 totaled $1.73 trillion (non-seasonally adjusted), reflecting a decrease of 2.1% over the year and following an annual decrease of 1.7% in the previous quarter. The third quarter of 2023 marked the first year-over-year decrease for student loan debt…
Consumer prices in February saw another uptick, primarily fueled by the increases in shelter and gasoline prices, which contributed to over 60% of the total increase. Despite a slowdown in the year-over-year increase, shelter costs continue to put upward pressure on inflation, accounting for roughly two-thirds of the total increase in all items excluding food…
