by Calculated Risk on 11/30/2024 08:11:00 AM The key report this week is the November employment report on Friday. Other key indicators include the October Trade Deficit, the November ISM manufacturing index and November vehicle sales. —– Monday, December 2nd —– 10:00 AM: ISM Manufacturing Index for November. The consensus is for 47.5%, up from…
Steelmaking is declining in Russia. According to data for January-October 2024, steel production decreased by 7% compared to the same period last year and amounted to 59.1 million tons. The largest drop was shown by Magnitogorsk Iron and Steel Works (MMK) – by 12% and Severstal – by 8%. China will restrict exports of tungsten,…
by Calculated Risk on 11/29/2024 12:21:00 PM Due to the Thanksgiving calendar shift, the U.S. hotel industry reported higher year-over-year performance comparisons, according to CoStar’s latest data through 23 November. … 17-23 November 2024 (percentage change from comparable week in 2023): • Occupancy: 59.7% (+20.7%)• Average daily rate (ADR): US$150.49 (+8.6%)• Revenue per available room…
by Calculated Risk on 11/29/2024 09:11:00 AM From Goldman: Following [Wednesday]’s data, we have left our Q4 GDP tracking estimate unchanged at +2.4% (quarter-over-quarter annualized) and our Q4 domestic final sales forecast unchanged at +2.0%. [Nov 27th estimate] And from the Atlanta Fed: GDPNow The GDPNow model estimate for real GDP growth (seasonally adjusted annual…
Here are five economic reasons to be thankful this Thanksgiving. (Hat Tip to Neil Irwin who started doing this years ago) 1) The Unemployment Rate is at 4.1% The unemployment rate was at 4.1% in October. The unemployment rate is down from 14.7% in April 2020 (the highest rate since the Great Depression). The unemployment…
On Wednesday morning, oil prices showed slight fluctuations, reflecting the impact of both signals of a reduction in fuel reserves in the United States and news of a truce between Israel and Lebanon. Brent futures rose slightly, trading at $72.86 per barrel, slightly above the closing level of the previous session ($72.81). A similar trend…
by Calculated Risk on 11/27/2024 05:16:00 PM What this means: On a weekly basis, Realtor.com reports the year-over-year change in active inventory and new listings. On a monthly basis, they report total inventory. For October, Realtor.com reported inventory was up 29.2% YoY, but still down 21.1% compared to the 2017 to 2019 same month levels. …
by Calculated Risk on 11/27/2024 01:15:00 PM Today, in the Calculated Risk Real Estate Newsletter: Fannie and Freddie: Single Family and Multi-Family Serious Delinquency Rates Increased in October Excerpt: Single-family serious delinquencies increased slightly in October, and multi-family serious delinquencies increased.… Multi-Family Delinquencies Increased, Fannie Rate Matches Highest Since 2011 (ex-Pandemic)…Freddie Mac reported that the…
by Calculated Risk on 11/27/2024 10:13:00 AM The BEA released the Personal Income and Outlays, October 2024 report for October: Personal income increased $147.4 billion (0.6 percent at a monthly rate) in October, according to estimates released today by the U.S. Bureau of Economic Analysis. Disposable personal income (DPI), personal income less personal current taxes,…
by Calculated Risk on 11/27/2024 10:03:00 AM From the NAR: Pending Home Sales Climbed 2.0% in October, Third Straight Month of Gains Pending home sales ascended in October – the third consecutive month of increases – according to the National Association of REALTORS®. All four major U.S. regions experienced month-over-month gains in transactions, with the…