US US housing market conditions were largely positive in October and November with forward-looking indicators suggesting upbeat conditions to continue. The NAHB/Wells Fargo survey of homebuilder sentiment in December revealed optimism not seen since 1999. The strong report exceeded expectations, as the overall gauge rose five points on the month to a reading of 74. [...]
US US economic data this week continued to signal moderate economic growth and inflation started to show signs of picking up. Following November’s performance, consumer prices are now up 2.2% on a year-on-year basis, while producer prices are now up 3.1%. The more recent inflation data combined with the rate hike out of the FOMC [...]
US US employers added 228,000 new jobs in November, which was better than expected. The print is particularly encouraging given that the distortions related to the storms this hurricane season have largely dissipated. Gains were widespread across major industries, with only information and federal government employment seeing declines. US unemployment held steady at 4.1% last [...]
US October’s new home sales report suggests that the market was very competitive and there is little relief ahead. The pace of new sales accelerated to the fastest of the current cycle, as products were sold even before construction. Some of the uptick may be traced to seasonal factors. The largest gains were in the [...]
