New Single-Family Home Sales Decline in April
Robert Hughes Sales of new single-family homes fell in April, decreasing 5.9 percent to 863,000 at a seasonally-adjusted annual rate from a 917,000 pace in March. Sales are still up 48.3 percent from the year-ago level but have fallen in five of the last nine months (see top of first chart). Weakness over the last […]
Fears of Price Instability Pull Down Consumer Sentiment in Early May
Robert Hughes The preliminary results from the University of Michigan Surveys of Consumers show overall consumer sentiment fell in early May and remains well below pre-lockdown levels. Fears over rising prices were the primary cause. Overall consumer sentiment decreased to 82.8 in early May, down from 88.3 in April, a 6.2 percent decline (see […]
Everyday Prices Rise 6.1 Percent from a Year Ago
Robert Hughes The AIER Everyday Price Index increased by 0.6 percent in April, the fifth consecutive gain following back-to-back decreases in October and November. The most recent rise puts the 12-month gain at 6.1 percent, the fastest pace since September 2011. The positive contributors to the April rise were led by motor fuels […]
Initial Claims Fall While Continuing Claims Rise
Robert Hughes – March 11, 2021 Initial claims for regular state unemployment insurance totaled 712,000 for the week ending March 6, down 42,000 from the previous week’s upwardly revised tally of 754,000 (see first chart). The latest week is the lowest since results for the week ending November 7, 2020. However, claims remain stuck […]
