Mixed results came from the housing sector in October as housing starts inched down by 0.7% while building permits rose sharply by 4.0% on the month. … READ MORE >
Coronavirus
The infrastructure package will bolster productivity and economic modernization
The package signed into law represents the most significant modernization of the nation’s infrastructure since the middle of the 20th century. … READ MORE >
Chart of the day: Industrial production climbed back in October
Industrial production rebounded in October with a gain of 1.6% after a significant slowdown in September because of Hurricane Ida, pointing to healthy growth for the rest of the year. … READ MORE >
Housing starts in Canada dropped for the fifth consecutive month
Housing starts in Canada dropped for the fifth consecutive month to 236,554 in October, down by 5.3% from September as builders grappled with shortages of materials and workers. … READ MORE >
Retail sales beat expectations in a sign of a strong holiday season
Retail sales rose by 1.7% in October as consumers, flush with cash, signaled a strong start to the final quarter of the year, according to a report from the U.S. Census Bureau on Tuesday. … READ MORE >
Chart of the day: Consumer confidence erodes to decade low in November
Concerns over inflation crept into consumer confidence in November, pushing the index from the University of Michigan to a decade low of 66.8 from 71.7 in October, according to data released on Friday. … READ MORE >
Strong labor demand pushed quit rate to a record
Demand for labor showed little change in September as job openings stayed at 10.4 million and the rate of people quitting their jobs reached an all-time high at 3.0%, according to new data on Friday from the Bureau of Labor Statistics. … READ MORE >
Chart of the day: Jobless claims approach pre-pandemic level
Claims for jobless benefits continued to signal a steady bounce back of the labor market as new filings declined to a pandemic low of 267,000 for the week ending Nov. 6. … READ MORE >
U.S. inflation reached a three-decade high in October
Inflation continued to surge in October, mostly on the back of seasonal influences that boosted the cost of energy, transportation and food, and sending the consumer price index up by 6.2% on an annual basis, a three-decade high. … READ MORE >
Chart of the day: Producer prices rise as cost pressures mount
The producer price index inched up 0.6% in October with about a third of the increase coming from higher gasoline prices. … READ MORE >