US Existing home sales rose by 2.4% in August to 6.0 million units (annualized), which marked another post-Great Recession record. The improvement spanned both single and multi-family segments and all four Census regions, though gains in the latter were concentrated in Northeast (13.8%). Meanwhile, in part due to a low inventory backdrop, home price growth [...]
US The Federal Reserve indicated that there will be no interest rate increase until at least end of 2023 and will not tighten policy until inflation is higher than 2% for “some time”, a move away from its previous policy goal of “maximum employment” and “symmetric 2% inflation”. This announcement makes the Fed’s desire to [...]
US Economists are revising higher their expectations for US growth in the year's third quarter. Goldman Sachs recently upped its Q3 forecast to a 35.0% annual rate while Bank of America revised its view up to 27.0%. Strong consumer spending and the rebuilding of depleted inventories are the main drivers in the positive outlook. The [...]
US As largely expected, the American economy continued to churn out jobs last month, albeit at a slower rate than in June and July. Indeed, August saw a total of 1.4 million net new jobs added, down from 1.7 million in July. Overall, nonfarm employment is about 7.6% below where it was in February. The [...]
