New Home Sales Surged in March New home sales surged in March to 9.6%, making homeowners hesitant to list their homes and trade up to higher mortgage rates, so they turned to new construction. US Raw Steel Production Up from Previous Week In the week ending April 22, US raw steel production was 1,700,000 net [...]
New York Business Activity Increased for the First Time in Five Months New York business activity increased for the first time in five months, according to the Federal Reserve Bank of New York Empire State Manufacturing Survey results for April 2023. The headline general business conditions index shot up 35 points. New orders and shipments [...]
Consumer Price Index Increased 0.1% in March The Consumer Price Index (CPI) increased 0.1% in March. Excluding food and energy, consumer prices rose 0.4% last month and 5.6% over the past year. US Raw Steel Production Lower than Previous Week In the week ending 4/8/23 US raw steel production was 1,675,000 net tons at an [...]
Celebrations of Faith Celebrations of faith this week include our Jewish friends celebrating Passover, and our Christian friends preparing to celebrate the resurrection of the Lord. These celebrations of faith in God are good, they are not bad as the Marxists suggest. Christians and Jews are being attacked and persecuted all over the world, why? [...]
Existing Home Sales Surged in February 2023 Existing home sales surged 14.5% in February as buyers responded to lower mortgage rates. February’s leap was the largest since December 2015, excluding the pandemic era. US Raw Steel Production Up from Previous Week In the week ending 3/18/23 US raw steel production was 1, 686,000 net tons [...]
Recession Warning Remains Clear from the Leading Economic Index The recession warning remains clear from the Leading Economic Index (LEI). The LEI slipped for the 11th straight month, down 0.3% in February. The index is now about 6.5% lower than where it was a year ago and the six-month average change in the index remain [...]
First Estimate of 2022Q4 GDP at 2.9 Percent The first estimate of 2022Q4 GDP at 2.9 percent, but drilling into the numbers shows housing in a recession, taking transportation out of the equation leaves GDP growth in a negative position. US Raw Steel Production Up from Previous Week In the week ending 1/21/23, US raw [...]
Inflation is Declining, Reporting a Sixth Consecutive Monthly Drop Inflation is declining. Running at a 6.5% annual rate, according to the Consumer Price Index (CPI) released Thursday, that is the sixth consecutive monthly decline, though still far from the fed’s 2% target, it is headed in the right direction. US Raw Steel Production Down from [...]
Manufacturing Index Slipped into Correction Territory The manufacturing index slipped into correction territory in December, according to the Institute for Supply Management (ISM). It dipped to 48.4, the lowest number for this factory bellwether since the early days of the pandemic in May 2020. New orders and production were both lower and both were also [...]
US Consumer Confidence Index Highest Level Since April 2022 The US Consumer Confidence Index highest level since April 2022, increased in December, following back-to-back monthly declines. Growth in Texas factory Activity in December The Federal reserve Bank of Dallas released its Texas Manufacturing Outlook Survey and reports growth in Texas factory activity resumed in December. [...]
