New US home construction unexpectedly picked up in October, indicating builders continue to benefit from a limited supply in the resale market.
The average 30-year mortgage rate plunged last week by the most in more than a year, helping generate the biggest advance in home purchase applications since early June.
US retail sales exceeded all forecasts and industrial production strengthened last month, fresh evidence of a resilient American consumer whose spending is helping stabilize manufacturing.
US housing affordability worsened to a fresh record low in August as Americans continue to bend under the weight of soaring mortgage rates and sticky prices.
Wall Street economists are growing more upbeat about US economic growth while acknowledging that it may require interest rates to stay higher for longer, in line with recent projections by the Federal Reserve.
The imminent US government shutdown that threatens to delay the publication of key economic data will test policymakers’ and investors’ trust in a range of less-regarded third-party indicators.
Underlying US inflation ran at a faster-than-expected monthly pace in August, leaving the door open for additional interest-rate hikes from the Federal Reserve.
US hiring picked up in August and wage growth slowed, offering a mixed picture of both resilience and moderation in the labor market.
Key US inflation measures continued to cool and consumer spending picked up in June, adding to momentum in the economy ahead of the third quarter.
Sales of previously owned US homes barely rose in May as high mortgage rates continued to crimp demand and discourage owners from listing their properties.
US homebuyers are increasingly paying in cash. The share of all-cash deals rose to the highest since 2013 last year, while institutional investors, who usually account for many cash sales, retreated, according to data from real estate data analytics firm Attom. That suggests more regular buyers turned to self funding to dodge punishing mortgage rates.
The Federal Reserve’s preferred inflation measures eased in December to the slowest annual paces in over a year while consumer spending fell, helping pave the way for policymakers to further scale back the pace of interest-rate hikes.
The US economy grew faster than forecast into the end of 2022, but there were signs of slowing underlying demand as the steepest interest-rate hikes in decades threaten growth this year.
Sales of previously owned US homes fell in December to the slowest pace in over a decade, capping one of the housing market’s worst years on record amid a rapid jump in mortgage rates.
US retail sales fell by the most in a year and business equipment production slumped, raising concerns that the economy is losing momentum under the weight of tighter Federal Reserve policy.
The path of US inflation in 2023 may have more surprises in store after a year in which consumers suffered the biggest cost-of-living hit in 40 years, spurring steep interest-rate hikes by the Federal Reserve and spooking investors.
US short-term inflation expectations unexpectedly declined to the lowest level in more than a year and consumer sentiment picked up, helped by falling gasoline prices.
Applications for US unemployment benefits rose last week to a three-month high amid a wave of layoffs at technology companies, a sign of cooling in a tight labor market.
A cooling in US consumer prices offered cheer to households, investors and Federal Reserve officials, but there’s still a long way before high inflation becomes history.
US long-term inflation expectations continued to ease in September, helping slightly lift consumer sentiment from the previous month despite growing economic uncertainty.
US retailers that stockpiled goods to cushion against supply-chain snarls are finding inventory reduction to be challenging and costly as American households start to pull back from a two-year spending spree.
The ocean shipping industry, among the world’s biggest polluters, is asking a key regulator to overhaul its emissions directives so that all carriers are working off the same rulebook as they make the expensive changes needed to cut output of harmful carbons.
The share of global wealth held by billionaires surged to a record during the Covid-19 crisis, according to a group founded by French economist Thomas Piketty.
Alumni of the Massachusetts Institute of Technology are the graduates best positioned to find a job as the global economy roars back and employers look to fill open positions.
U.S. single-family home rental prices jumped 7.5% in June, showing no sign of abating amid a hot housing market and construction lags.