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commerce department: Economic Update - Re-cap In Plain English ~ 04/05/2010 - 04/05/10 08:06 AM
Last Week in the News
The Commerce Department reported that consumer spending rose $34.7 billion or 0.3% in February, matching what economists had anticipated. Personal income increased $1.2 billion or less than 0.1%.
The Standard & Poor’s/Case-Shiller 20-city housing price index rose a seasonally adjusted 0.3% in January. It was the eighth consecutive monthly gain and follows a 0.3% increase in December.
The consumer confidence index rose to 52.5 in March from a slightly revised 46.4 in February. Economists had anticipated a reading of 50. The index was benchmarked at 100 in 1985, a year chosen because it was neither a … (4 comments)
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commerce department: Economic Update - Re-Cap in Plain English ~ 02/08/10 - 02/09/10 10:41 PM
Last Week in the News
The Institute for Supply Management reported that the monthly index of manufacturing activity rose to 58.4 in January after reaching 54.9 in December. It was the sixth straight month of expansion and the fastest pace of growth since August 2004. A reading above 50 signals expansion.
The Commerce Department reported that total construction spending fell 1.2% in December after a downwardly revised 1.2% decline in November. Economists had expected a decrease of 0.5%.
The National Association of Realtors reported that its pending home sales index, a forward-looking indicator based on signed contracts, rose 1% … (0 comments)
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commerce department: Economic Update - Re-Cap in Plain English ~ 02/01/10 - 02/01/10 10:06 AM
Last Week in the News
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 5.7% in the fourth quarter of 2009. It was the second consecutive quarter of growth and the fastest pace since the third quarter of 2003.
The Standard & Poor’s/Case-Shiller 20-city housing price index rose a seasonally adjusted 0.2% in November. It was the sixth consecutive monthly gain and follows a 0.4% increase in October. On a year-over-year basis, the gauge was down 5.3% from November 2008.
The consumer … (0 comments)
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commerce department: Economic Update - Re-Cap in Plain English ~ 01/25/10 - 01/26/10 12:29 AM
Last Week in the News
The index of leading economic indicators — designed to forecast economic activity in the next three to six months — rose a better-than-expected 1.1% in December after a revised 1% gain in November. It was the ninth straight monthly increase.
The Commerce Department reported that the combined construction of new single-family homes and apartments in December fell 4% to a seasonally adjusted annual rate of 557,000 units. However, applications for new building permits, seen as an indicator of future activity, jumped 10.9% to 653,000 units, the highest level since October 2008.
The Mortgage Bankers … (0 comments)
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commerce department: Economic Update - Re-Cap in Plain English ~ 01/18/10 - 01/18/10 10:13 AM
Last Week in the News
The Commerce Department reported the trade deficit grew 9.7% to $36.4 billion in November from a revised $33.2 billion in October. Economists had expected the trade deficit to widen to $34.5 billion. Exports increased 0.9%, the seventh consecutive monthly gain. The growth in U.S. exports is an indication the global economy is beginning to rebound.
The Mortgage Bankers Association said its seasonally adjusted index of mortgage applications for the week ending January 8 rose 14% to 528.1. Purchase volume increased 0.8% to 213.7. Refinancing applications jumped 21.8% to 2,407.2.
Retail sales unexpectedly fell 0.3% in … (3 comments)
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commerce department: Economic Update - Re-Cap in Plain English ~ 01/12/10 - 01/12/10 10:08 AM
Last Week in the News
The Institute for Supply Management reported the monthly index of manufacturing activity rose to 55.9 in December after reaching 53.6 in November. It was the fifth straight month of expansion and the fastest pace of growth since April 2006. A reading above 50 signals expansion.
The Commerce Department reported total construction spending fell 0.6% in November after dropping 0.5% in October. Economists had expected a decrease of 0.4%.
The Commerce Department reported factory orders rose 1.1% in November, more than double the 0.5% increase economists had anticipated. It was the seventh gain in the past … (0 comments)
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commerce department: Economic Update - Re-Cap in Plain English ~ 12/28/09 - 12/28/09 10:59 AM
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commerce department: Economic Update - Re-Cap in Plain English ~ 12/21/09 - 12/21/09 11:32 AM
Last Week in the News
The Commerce Department reported that the combined construction of new single-family homes and apartments in November rose 8.9% to a seasonally adjusted annual rate of 574,000 units. Applications for new building permits, seen as an indicator of future activity, rose 6%, the highest level since November 2008.
The producer price index, which tracks wholesale prices, rose 1.8% in November, following a 0.3% increase in October. Economists had expected a gain of 0.8%.
Industrial production at the nation’s factories, mines and utilities rose 0.8% in November, following a revised 0.1% increase in October. The overall factory-operating … (0 comments)
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commerce department: Economic Update - Re-Cap in Plain English ~ 12/14/09 - 12/14/09 10:27 PM
Last Week in the News
Retail sales increased 1.3% in November, following a downwardly revised 1.1% increase in October. Excluding automobiles, retail sales rose 1.2%, the largest gain since January. Sales of building materials increased 1.5%, the biggest gain since April 2008.
According to the Federal Reserve, consumer credit debt fell in October by $3.51 billion, an annual rate of 1.7%. Economists had forecast that consumer debt would drop $9.3 billion. That’s a sign the financial crisis is easing as more households cautiously increase their purchasing activity.
The Mortgage Bankers Association said its seasonally adjusted index of mortgage applications for the … (0 comments)
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commerce department: Economic Update - Re-Cap in Plain English ~ 11/30/09 - 11/30/09 10:48 AM
Last Week in the News
Existing home sales rose 10.1% in October to a seasonally adjusted annual rate of 6.1 million units from 5.54 million units in September. The increase was largely due to the tax incentive for first-time homebuyers. The inventory of unsold homes on the market fell 3.7% to 3.57 million, a 7-month supply at the current sales pace, and the lowest level since February 2007.
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 2.8% in the third quarter of … (2 comments)
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commerce department: Economic Update - Re-Cap in Plain English ~ 11/23/09 - 11/23/09 09:44 AM
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commerce department: Economic Update - Re-Cap in Plain English ~ 11/16/09 - 11/18/09 09:23 AM
Last Week in the News
According to the ICSC-Goldman Sachs index, retail sales fell 0.1% in the week ending November 7. On a year-over-year basis, retailers saw sales increase 2.9%, the best showing since August 2008.
Initial claims for unemployment benefits fell by 12,000 to 502,000 in the week ending November 7. It was the lowest level since January and the figure was lower than the 510,000 that economists had forecast. Continuing claims for the week ending October 31 fell by 139,000 to 5.63 million.
The Reuters/University of Michigan consumer sentiment index for November fell to 66 from 70.6 in October. … (1 comments)
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commerce department: Economic Update - Re-Cap in Plain English ~ 11/02/2009 - 11/02/09 10:15 AM
Last Week in the News
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 3.5% in the third quarter of 2009. The rebound ended four consecutive quarters of contracting economic activity, the longest period of decline since quarterly records began in 1947.
The Conference Board reported that its consumer confidence index fell to 47.7 in October from a revised 53.4 in September. Economists had expected a reading of 53.5. The index was benchmarked at 100 in 1985, a year chosen because it was … (1 comments)
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commerce department: Economic Update - Re-Cap in Plain English ~ 10/26/2009 - 10/26/09 10:55 AM
Last Week in the News
Existing home sales rose 9.4% in September to a seasonally adjusted annual rate of 5.57 million units from 5.1 million units in August. The increase was largely due to the tax incentive for first-time homebuyers.
According to the ICSC-Goldman Sachs index, retail sales rose 0.2% in the week ending October 17. On a year-over-year basis, retailers saw sales increase by 2.8%, the best showing in a year.
The producer price index, which tracks wholesale prices, rose 0.6% in September, following a 1.7% increase in August. For the year, wholesale prices are down 4.8%.
The Commerce Department … (0 comments)
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commerce department: Economic Update - Re-Cap in Plain English ~ 10/19/2009 - 10/19/09 10:58 AM
Last Week in the News
Retail sales decreased 1.5% in September, following a revised 2.2% increase in August. However, excluding automobiles, retail sales rose 0.5%, more than the 0.2% increase economists had expected. Car sales fell 10.4% from their August high, as the ‘cash for clunkers’ program expired.
The Commerce Department reported that total business inventory decreased 1.5% in August, following a 1.1% drop in July. It was the 12th straight monthly decline as retailers, manufacturers and wholesalers sought to cut inventory. Total business sales rose 1% in August, pulling the stock-to-sales ratio down to 1.33 months to exhaust inventories at … (0 comments)
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commerce department: Economic Update - Re-Cap in Plain English ~ 09/28/2009 - 09/29/09 12:11 AM
Last Week in the News
The index of leading economic indicators — designed to forecast economic activity in the next three to six months — rose 0.6% in August after an upwardly revised 0.9% gain in July. It was the fifth straight monthly increase.
The Mortgage Bankers Association said its seasonally adjusted index of mortgage applications for the week ending September 18 rose 12.8% to 668.5, the highest since the week ending May 22. Purchase volume rose 5.6% to 288.3. Refinancing applications increased 17.4% to 2,881.5.
Initial claims for unemployment benefits fell by 21,000 to 530,000 in the week ending September … (1 comments)
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commerce department: Economic Update - Re-Cap in Plain English ~ 09/21/2009 - 09/21/09 09:10 PM
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commerce department: Economic Update - Re-Cap in Plain English ~ 09/7/2009 - 09/08/09 11:12 AM
Last Week in the News
The U.S. manufacturing sector grew for the first time since January 2008. The Institute for Supply Management reported the monthly index of manufacturing activity rose to 52.9 in August from 48.9 in July. A reading above 50 signals expansion. The increase was driven by new orders, which was up 9.6 points to 64.9, the highest reading since December 2004.
The National Association of Realtors reported that its pending home sales index, a forward-looking indicator based on signed contracts, rose 3.2% to 97.6 in July from a revised 94.6 in June. It was the sixth consecutive monthly … (1 comments)
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commerce department: Economic Update - Re-Cap in Plain English ~ 07/06/2009 - 07/06/09 10:15 AM
Last Week in the News
On Tuesday, June 30, the Conference Board reported that its consumer confidence index fell to 49.3 in June from a slightly revised 54.8 in May. Economists had expected an increase to 55. The index was benchmarked at 100 in 1985, a year chosen because it was neither a peak nor a trough in consumer confidence. The Standard & Poor’s / Case-Shiller 20-city housing price index dropped 18.1% from April 2008 to April 2009. It was the third straight month the index didn't post record drops, indicating that the slump in home values might be easing. The … (0 comments)
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commerce department: Economic Update - Re-Cap in Plain English ~ 06/15/09 - 06/15/09 12:53 PM
Last Week in the News
On Tuesday, June 9, the Commerce Department said wholesalers reduced their inventories by 1.4% in April following a 2.4% drop in March. Economists had forecast a 1.1% decrease in April. It was the eighth straight monthly decline. Sales at the wholesale level fell 0.4% in April after a 2.4% decline in March.
According to the ICSC-Goldman Sachs index, store sales rose 0.2% in the week ending June 6 compared to the previous week.
The Commerce Department reported Wednesday that the trade deficit rose 2.2% to $29.2 billion in April, from a revised $28.5 billion in March. … (0 comments)
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Julie Chroust, NMLS# 249458, Direct Lender & Mortgage Banker
Walnut Creek,
CA
More about me…
Julie Chroust, Prospect Mortgage, Walnut Creek, CA
Address: 1910 Olympic Blvd,, Suite 120, Walnut Creek, CA, 94596
Office Phone: (925) 516-5809
Cell Phone: (925) 381-1481
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