Kansas City Fed Survey: Activity Expanded in January
The latest index came in at 24, up from 22 last month, indicating steady continued expansion in January. The future outlook rose to 37. All figures are seasonally adjusted. Here is a snapshot of the complete Kansas City Fed Manufacturing Survey.
Pending Home Sales Fell in December
The National Association of Realtors released the December data for their Pending Home Sales Index. According to the National Association of Realtors®, "Pending home sales fell in December, denoting two straight months of declines."
Liftoff in March
The Fed stayed the course today, with no change in the Fed Funds rate, no adjustment to the pace of tapering, no shift in the timeline for raising rates, and no indication that they intend to lift rates in larger steps.
Headline Durable Goods Orders Down 0/9% in December
The latest new orders number at -0.9% month-over-month (MoM) was slightly worse than the Investing.com -0.5% estimate. The series is up 12.7% year-over-year (YoY). If we exclude transportation, "core" durable goods was up 0.4% MoM and up 11.9% YoY.
Economists Implore Biden to Get Key Climate Number Right
Four prominent economists are imploring the White House to rethink a critical lever for policymaking that they call “insufficient to deliver the climate targets set in the Paris Agreement and by the Biden administration.”
New Home Sales Up 11.9% in December
This morning's release of the December New Home Sales from the Census Bureau came in at 811K, up 11.9% month-over-month from a downwardly revised 725K in November. The Investing.com forecast was for 760K. The median home price is now at $377.7K.
Men Are Getting Left Behind in the Jobs Boom
Insights into the economy can be found in surprising places. In a brothel, for instance, how services are priced and who ends up working there can reveal a lot about the state of the business cycle. It also reflects structural changes in our economy and society.