The Institute for Supply Management index, a closely watched measure of U.S. manufacturing activity, rose 1.6 points to 54.2 in July from 52.6 in the previous month, surpassing market expectations of 53.6. … READ MORE >
Coronavirus
An SOS for commercial real estate
As the length and severity of the coronavirus pandemic continue wreak havoc on the economy, real estate deals are at best being reworked and at worst falling apart altogether. … READ MORE >
Three states report significant increases in initial jobless claims
The grim news from the national increase in initial jobless claims, which are adjusted for seasonal effects, was mitigated somewhat by the state-by-state raw counting of first-time filings for unemployment benefits. … READ MORE >
US gross domestic product: Actual vs. potential output
The current Bloomberg consensus on third quarter growth in gross domestic product is 18% (RSM’s forecast is 14.2%), and that will likely be brought down noticeably in coming days. … READ MORE >
Second-quarter GDP: A historic decline that could have been worse
The 32.9% decline in U.S. gross domestic product is the single largest decline in the report since the collection of the data began in 1947. But the reopening of the economy that begin around May 1 resulted in a far more muted decline that was tracking near 50% in April. … READ MORE >
First-time jobless claims rise for second straight week
First-time jobless claims increased by 1.434 million for the week ending July 25, the Labor Department reported on Thursday, while continuing claims increased by 17.01 million, implying an increase to an 11.6% insured unemployment rate. … READ MORE >
Assessing the bond market ahead of the coming change to Fed policy
The bond market is signaling that investors are preparing for an average inflation targeting regime, a quicker and more brisk pace of asset purchases or perhaps a yield curve cap out to the three-year maturity spectrum … READ MORE >
FOMC rate decision: Waiting on September
In keeping interest rates steady, the Federal Reserve on Wednesday underscored its ultra-cautious outlook and reiterated its view that the pandemic is the primary driving force within the economy. … READ MORE >
Education technology will be crucial this school year, could see record venture capital in 2020
Given the enormous upheaval the education system will face in the coming year because of the coronavirus pandemic, technology will undoubtedly play a bigger role in connecting students to their teachers. … READ MORE >
School’s out for summer (or forever?)
It seems as if we are living through an alternate version of Alice Cooper’s song. While the COVID-19 pandemic has had a significant impact across real estate sectors, student housing, once a beacon of stability, is now vulnerable as universities prepare for the school year. … READ MORE >