advice: Economic Update
- 10/27/09 06:18 PM
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 reported that the combined construction … (1 comments)
advice: Economic Update (W/E 10/11)
- 10/14/09 12:28 PM
The U.S. non-manufacturing sector grew for the first time since August 2008. The Institute for Supply Management reported the monthly index of non-manufacturing activity rose to 50.9 in September from 48.4 in August. A reading above 50 signals expansion. Big gains were made in new orders, up more than four points to 54.2; backlog of orders, up 10.5 points to 51.5; and productivity, up nearly four points to 55.1. According to the ICSC-Goldman Sachs index, retail sales rose 0.3% in the week ending October 3. On a year-over-year basis, retailers saw sales increase by 1%, the second-best showing in a year. … (2 comments)
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.
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