Tag: Breaking News: Economy

Mortgage demand from homebuyers is nearly half what it was in 2021

A house’s real estate for sale sign is seen in front of a home in Arlington, Virginia, November 19, 2020. Saul Loeb | AFP | Getty Images Mortgage demand fell last week to nearly half what it was a year ago, according to the Mortgage Bankers Association, as rates hit their highest level in 21…

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Retail sales September 2022:

Customers shop at the GU Co. store in the SoHo neighborhood of New York, US, on Friday, Oct. 7, 2022. Gabby Jones | Bloomberg | Getty Images Consumer spending was flat in September as prices moved sharply higher and the Federal Reserve implemented higher interest rates to slow the economy, according to government figures released…

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Jobs report September 2022:

Job growth fell short of expectations in September as efforts by the Federal Reserve to slow inflation took their toll on hiring, the Labor Department reported Friday. Nonfarm payrolls increased 263,000 for the month, compared to the Dow Jones estimate of 275,000. The unemployment rate was 3.5% vs the forecast of 3.7%. This is breaking…

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Bank of America pushes out recession call to the first half of 2023

There’s some good news in Bank of America’s expectation that the economy is headed for recession: The contraction now looks likely to start later than expected and is still expected to be shallow by historical norms. Previously, the bank’s economists had been looking for the decline to start later in 2022. But with the labor…

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Producer price index July 2022:

Wholesale prices fell in July for the first time in two years as a plunge in energy prices slowed the pace of inflation, the Bureau of Labor Statistics reported Thursday. The producer price index, which gauges the prices received for final demand products, fell 0.5% from June, the first month-over-month decrease since April 2020, the…

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