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Economic Update – Novemeber 1, 2010

Monday, November 1st, 2010




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Last Week in the News

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Existing home sales rose 10% in September to a seasonally adjusted annual rate of 4.53 million units from a revised 4.12 million units in August. The inventory of unsold homes on the market declined 1.9% to 4.04 million, a 10.7-month supply at the current sales pace, down from a 12-month supply in August.

The Standard & Poor’s/Case-Shiller 20-city housing price index — on a seasonally adjusted basis — fell 0.3% in August after a 0.2% decrease in July. On a year-over-year basis, prices rose 1.7% compared with August 2009.

The Mortgage Bankers Association said its seasonally adjusted composite index of mortgage applications for the week ending October 22 rose 3.2%. Refinancing applications increased 3%. Purchase volume rose 3.9%.

Orders for durable goods — items expected to last three or more years — rose 3.3% in September after decreasing a revised 1% in August. Excluding volatile transportation-related goods, orders posted a monthly decrease of 0.8%.

New home sales rose 6.6% in September to a seasonally adjusted annual rate of 307,000 units from a rate of 288,000 units in August. Economists had expected a pace of 300,000 units.

The Commerce Department announced that gross domestic product — the total output of goods and services produced in the U.S. — increased at an annual rate of 2% in the third quarter of 2010.

Initial claims for unemployment benefits fell by 21,000 to 434,000 for the week ending October 23. Continuing claims for the week ending October 16 fell by 122,000 to 4.35 million, the lowest level since the recovery began.

Upcoming on the economic calendar are reports on construction spending on November 1, factory orders on November 3 and pending home sales on November 5.

Visit my website and apply on line:
www.DavidJGarofalo.com



  • wp socializer sprite mask 16px Economic Update   Novemeber 1, 2010 | CT Real Estate
  • wp socializer sprite mask 16px Economic Update   Novemeber 1, 2010 | CT Real Estate
  • wp socializer sprite mask 16px Economic Update   Novemeber 1, 2010 | CT Real Estate
  • wp socializer sprite mask 16px Economic Update   Novemeber 1, 2010 | CT Real Estate
  • wp socializer sprite mask 16px Economic Update   Novemeber 1, 2010 | CT Real Estate
  • wp socializer sprite mask 16px Economic Update   Novemeber 1, 2010 | CT Real Estate
  • wp socializer sprite mask 16px Economic Update   Novemeber 1, 2010 | CT Real Estate
  • wp socializer sprite mask 16px Economic Update   Novemeber 1, 2010 | CT Real Estate

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Economic Update – April 12, 2010

Monday, April 12th, 2010




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Last Week in the News

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The Institute for Supply Management reported the monthly index of non-manufacturing activity rose to 55.4 in March from 53 in February. A reading above 50 signals expansion. Economists had anticipated a reading of 53.3. The reading was the highest since May 2006.

The National Association of Realtors reported that its pending home sales index, a forward-looking indicator based on signed contracts, rose 8.2% in February after a revised 7.8% decrease in January. The February reading was the largest gain since October 2001.

According to the Federal Reserve, consumer credit debt fell in February by $11.5 billion, an annual rate of 5.6%. Economists had forecast that consumer debt would rise by $500 million. Consumer credit rose in January by $10.6 billion, ending a record 11 consecutive months of decline.

Sales at U.S. retail chains rose 9.1% in March. It was the largest monthly jump since recordkeeping began in 2000. Economists had anticipated a 6.3% increase.

Initial claims for unemployment benefits unexpectedly rose by 18,000 to 460,000 in the week ending April 3. Continuing claims for the week ending March 27 fell by 131,000 to 4.55 million.

The Mortgage Bankers Association said its seasonally adjusted index of mortgage applications for the week ending April 2 fell 11%. Purchase volume increased 0.2%. Refinancing applications fell 16.9%.

The Commerce Department said wholesalers increased their inventories by 0.6% in February following a revised 0.1% rise in January. Sales at the wholesale level rose 0.8% in February, marking the 11th straight monthly gain.

Upcoming on the economic calendar are reports on retail sales on April 14, the housing market index on April 15 and housing starts on April 16.

Click here to visit my website and apply on line:
www.DavidJGarofalo.com



  • wp socializer sprite mask 16px Economic Update   April 12, 2010 | CT Real Estate
  • wp socializer sprite mask 16px Economic Update   April 12, 2010 | CT Real Estate
  • wp socializer sprite mask 16px Economic Update   April 12, 2010 | CT Real Estate
  • wp socializer sprite mask 16px Economic Update   April 12, 2010 | CT Real Estate
  • wp socializer sprite mask 16px Economic Update   April 12, 2010 | CT Real Estate
  • wp socializer sprite mask 16px Economic Update   April 12, 2010 | CT Real Estate
  • wp socializer sprite mask 16px Economic Update   April 12, 2010 | CT Real Estate
  • wp socializer sprite mask 16px Economic Update   April 12, 2010 | CT Real Estate

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