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Retail sales rose by 0.4% in December, slightly below the 0.6% forecast. However, gains were seen in 10 out of 13 categories. The control group reading, excluding autos, gasoline, building materials, and food services, jumped by 0.7%, which could potentially boost GDP estimates. What’s the bottom line? December’s sales figures indicate strong consumer demand during […]

After a disappointing November, new home construction increased 15.8% in December, driven by a nearly 62% surge in multifamily projects. Single-family home starts also saw a modest monthly rise. However, Building Permits, indicating future construction, were down 0.7% overall. What’s the bottom line? Household formations are at an annualized rate of 1.9 million, while Housing […]

Home builder sentiment rose 1 point to 47 in January, according to the National Association of Home Builders (NAHB). Although confidence is still in contraction territory below the breakeven point of 50, it’s at the highest level since April and has been trending in the right direction. What’s the bottom line? Builders continue to balance […]

The Producer Price Index (PPI) rose by 0.2% in December, below the expected 0.4%. The annual rate increased from 3% to 3.3%, mainly because a negative figure from December 2023 was removed from the rolling 12-month calculation. Core PPI, which excludes the typically volatile food and energy prices, remained unchanged last month while the year-over-year […]

December’s Consumer Price Index (CPI) showed a 0.4% inflation increase, pushing the annual rate from 2.7% to 2.9%. However, when we exclude food and energy prices, the Core measure was below expectations with a 0.2% rise. Annual Core CPI dropped to 3.2% after remaining at 3.3% for several months, sparking a bond rally on Wednesday. […]

Winter is a great season for baking, and this Banana Nut Muffin recipe from the Food Network makes for a delicious treat. Yields12 muffins. Preheat oven to 375 degrees Fahrenheit. Lightly butter 2 muffin tins. In a large bowl, combine 2 cups all-purpose flour, 1 1/2 teaspoons baking soda, and 1/2 teaspoon salt; set aside. […]

CoreLogic’s Home Price Index showed that home prices nationwide were essentially flat in November, rising 0.06% from October. Prices were also 3.4% higher when compared to November of last year. What’s the bottom line? CoreLogic forecasts that home prices will fall 0.2% in December and rise 3.8% in the year going forward, up significantly from […]

The number of people filing new unemployment claims fell by 10,000 in the latest week, with 201,000 Initial Jobless Claims reported. Continuing Claims rose by 33,000, as 1.867 million people are still receiving benefits after filing their initial claim. What’s the bottom line? People often put off filing for unemployment if they’re traveling or busy […]

The latest Job Openings and Labor Turnover Survey (JOLTS) showed that job openings rose from an upwardly revised 7.839 million in October to 8.098 million in November, which was above what economists had forecasted. However, the hiring rate fell to 3.3% while the quit rate also fell to 1.9%, putting both at over 10-year lows […]

ADP’s Employment Report showed that private sector job growth was weaker than economists had forecasted in December, as employers added 122,000 new jobs versus the 140,000 that were expected. This marked the lowest number of new jobs added in the private sector since August. The job growth that was previously reported for November (+146,000) was […]

The Bureau of Labor Statistics (BLS) reported that there were 256,000 jobs created in December, which was well above estimates of 160,000. Revisions to October and November shaved 8,000 jobs from those months combined. The unemployment rate fell from 4.2% to 4.1%. What’s the bottom line? December’s headline job growth figure will be subject to […]

It’s National Soup Month and this Garden Vegetable Soup courtesy of the Food Network is perfect for kicking the year off right. Yields 6 to 8 servings. In a large, heavy-bottomed stockpot, heat 4 tablespoons olive oil over medium low heat. Once hot, add 2 cups chopped leeks(white part only), 2 tablespoons finely minced garlic […]

Initial Jobless Claims fell by 9,000 in the latest week, with 211,000 people filing for unemployment benefits for the first time. Continuing Claims also dropped by 52,000, as 1.844 million people are still receiving benefits after filing their initial claim. What’s the bottom line? While Initial Jobless Claims fell to their lowest level since April, […]

The Case-Shiller Home Price Index, which is considered the “gold standard” for appreciation, showed home prices nationwide rose 0.3% from September to October after seasonal adjustment, breaking the previous month’s all-time high. Home values in October were also 3.6% higher than a year earlier, following a 3.9% gain in September. Case-Shiller’s 10-city (+4.8% YoY) and […]

Pending Home Sales, which are signed contracts on existing homes, rose 2.2% from October to November per the National Association of REALTORS® (NAR). The index reached its highest level since February 2023 as sales were also 6.9% higher than they were a year earlier. What’s the bottom line? NAR’s Chief Economist, Lawrence Yun, noted that […]