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U.S. GDP More Than Holds Its Own In The Third Quarter: October 30, 2014
The nation's gross domestic product increased by a more moderate, but still appreciable, 3.5% in the third quarter according to the U.S. Commerce Department. That increase was somewhat better than the 3.0% gain estimated, but well under the 4.6% rise that was tabulated during the second quarter. Read more
The Fed Concludes Its Bond Buying
The Federal Reserve has voted to do more or less the expected during the latest FOMC meeting. The central bank decided to conclude its popular bond-buying program at the end of this month. Read more
Consumer Confidence Presses Higher in October 2014
The Conference Board, a private research organization based in New York City, has reported that consumer confidence rose smartly this past month, increasing to a reading of 94.5. That compared favorably with the September survey result of 89.0. Expectations had been that this index would have come in at 87.9. Read more
New Home Sales Up Modestly In September
At 10:00 A.M. (EDT), we received another report on the housing market when the U.S. Department of Commerce issued new residential data for the month of September. At first blush, the report looked decent. Although new home sales were only up nominally on a sequential basis, they were still running considerably above the prior-year pace. Read more
Existing Home Sales Rebound In September 2014
The investment community received another mostly encouraging report on the U.S. economy when the National Association of Realtors, the nation’s largest trade association, reported an increase in existing home sales for the month of September. Read more
Homebuilding Gains Moderately In September
The U.S. Commerce Department earlier this morning reported that housing starts improved further last month, rising by 6.3% to an annualized rate of 1,017,000 units. That was modestly above expectations of an even one million homes started. In August, starts had dipped to 957,000 residences (initially estimated at 956,000 homes). The September total was also well above the year-earlier tally of 863,000 starts. Read more
Industrial Production Gives Wall Street A Pleasant Surprise
Just when it seemed as though the news could only be bad, and worries about economic growth on both sides of the Atlantic were proliferating, the U.S. Commerce Department reported that industrial production jumped notably in September, rising by a full percentage point. Read more
The Beige Book Summation Is Released With Few Surprises
The Federal Reserve's Beige Book summation was released within the past hour and that compilation of economic conditions across the country had no major surprises for embattled investors. Read more
Retail Sales Falter In September 2014
The Commerce Department gave Wall Street and U.S. economists something new to worry about this morning, as that government agency reported that retail sales had fallen by 0.3% last month; a drop of just 0.1% had been the consensus forecast. At the same time, August sales were unrevised and continued to show a 0.6% increase. Read more
Nonmanufacturing Activity Continues To Expand Strongly: October 3, 2014
At 10:00 A.M. (EDT) this morning, we received another encouraging report on the U.S. economy when the Institute for Supply Management reported data on non-manufacturing activity for the month of September. It marked the 56th consecutive month that economic activity in the services sector had grown. Read more
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