Friday’s data on spending and income, together with recent data on gross domestic product, have pointed to a booming economy that should push back any speculation for an imminent recession. … READ MORE >
Tuan Nguyen
Existing home sales fall to the lowest level since 2010
Demand for existing homes has plunged in six out of seven months since February, falling to 3.96 million in September. … READ MORE >
Retail sales top forecasts as American consumers stay resilient
Total sales rose by 0.7% on the month, following an upward revision to 0.8% for August, the Commerce Department reported on Tuesday. … READ MORE >
Producer inflation rose more than forecast in September
Overall prices for final demand rose by 0.5% on the month while energy prices increased by 3.3%, the Bureau of Labor Statistics reported on Wednesday. … READ MORE >
Excess savings are critical to the economic expansion’s duration
According to our analysis of revised BEA data, consumers are on a strong footing, with between $400 billion and $1.3 trillion in excess savings that they can draw upon as the economy moves back toward price stability. … READ MORE >
Initial jobless claims tick up in a still-tight labor market
New filings rose 2,000 to 207,000 for the week ending Sept. 30, lower than the median forecasts of 210,000. … READ MORE >
Service sector extends growth in September
The overall service index eased to 53.6 from 54.5 in August, above the 49.9 threshold that indicates expansion. … READ MORE >
Job openings surge unexpectedly in August
Job openings defied expectations in August, rising to 9.6 million, mostly from a sharp increase of 409,000 in professional and business services. … READ MORE >
Manufacturing sentiment improves for the first time in nearly a year
The sector’s overall index rose to 49% in September from 47.6% earlier, while the production subindex rose to 52.5% from 50%. … READ MORE >
American consumers remain resilient as shutdown looms
Despite a rise in overall inflation because of higher oil prices, core inflation and spending volume remained soft in August. … READ MORE >