December’s sales declined by 1.5% to 4.02 million units annualized. That brought the total number of units sold last year to 5.03 million, 17.8% lower than in 2021. … READ MORE >
Tuan Nguyen
Housing starts fell last year for the first time since 2009
Housing starts dropped by 1.4% on an annualized month-ago basis, while building permits fell by 1.6%. For all of last year, housing starts fell by 3%. … READ MORE >
U.S. retail sales and producer inflation fall as spending weakens
Retail sales and producer inflation data came in lower than expected in December, giving the Federal Reserve more reasons to begin to slow down its rate hikes. … READ MORE >
Canada job gains top forecast, complicating decision on rates
The Canadian labour market added 104,000 net jobs in December, significantly higher than the forecast of 5,000. … READ MORE >
Canada inflation eases, but the fight is not over
November’s headline consumer price index in Canada dropped to a 6.8% increase from 6.9% on a year-ago basis, remaining significantly above the 2% target rate. … READ MORE >
Housing starts and permits fall as the correction continues
New housing starts dropped for the third month in a row in November as the housing market continued to be in correction mode. … READ MORE >
Retail sales fall more than expected as spending and inflation cool
Retail sales in November posted the sharpest decline of the year, falling by 0.6% as shoppers pulled back from holiday spending. … READ MORE >
Producer price inflation hotter than expected ahead of Fed’s meeting
The producer price index for final demand rose by 0.3% in November and by 7.4% year-over-year, the Bureau of Labor Statistics reported on Friday. … READ MORE >
Jobless claims show an uptick in layoffs
New filings for jobless claims inched up by 1.8% last week to 230,000, remaining above the pre-pandemic level for the fifth week in a row. … READ MORE >
U.S. service sector grows, adding pressure on Fed
The Institute for Supply Management’s service index rose in November as business activities increased on the month. … READ MORE >