Existing-home sales

New Single-Family Home Sales Rose but So Did Inventory and Months’ Supply

– September 24, 2021

“New-home sales rose in August but so did inventory and months’ supply. Rising prices will likely continue to force some buyers out of the market, leading to additional inventory build and slower price increases.” – Robert Hughes

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Weekly Initial Claims for Unemployment Benefits Rise Again as Continuing Claims Fall

– September 23, 2021

“Weekly initial claims for unemployment benefits rose for a second consecutive week, likely a result of the recent surge in new Covid cases. However, a tight labor market and a record number of open jobs should support a downward trend, but the path may be extended and more volatile.” – Robert Hughes

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Existing home sales

Existing-Home Sales and Inventory Fell in August

– September 22, 2021

“Existing-home sales and inventories fell slightly in August as high prices and shifting housing preferences weigh on activity.” – Robert Hughes

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Multifamily Segment Leads Housing Market Construction in August

– September 21, 2021

“Multifamily housing activity has been surging recently while the single-family segment struggles. Uncertainty due to the latest wave of Covid combined with rising home prices and ongoing labor and materials shortages for builders all contribute to a challenging environment for housing.” – Robert Hughes

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Consumer Sentiment Improved Slightly but Remained Low in Early September

– September 17, 2021

“Consumer sentiment remained weak in early September as consumers react to the one-two punch of elevated numbers of new Covid cases and rising prices for many consumer goods. The survey results suggest economic conditions in the second half of 2021 could be disappointing.” – Robert Hughes

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Core Retail Sales Post a Strong Gain in August

– September 16, 2021

“Retail sales rose in August with core retail sales particularly strong. Resilient consumer spending is a positive for the outlook but Covid is sustaining an elevated level of uncertainty.” – Robert Hughes

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Weekly Initial Claims for Unemployment Benefits Rose but the Four-Week Average Fell

– September 16, 2021

“Weekly initial claims for unemployment benefits rose in the latest week but the trend remains lower. A tight labor market and a record number of open jobs should support the downward trend, but waves of new Covid cases will continue to boost uncertainty for the economic outlook.” – Robert Hughes

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Everyday Price Index Rises at a Slower Pace in August

– September 14, 2021

“AIER’s Everyday Price Index posted a slower gain in August but is still up 6.8 percent from a year ago. Prices of many goods and services continue to be distorted by the lingering effects of the pandemic and government shutdowns. As these distortions fade, price pressures are likely to ease.” – Robert Hughes

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AIER Leading Indicators Drop Sharply but Remain Above Neutral

– September 13, 2021

“AIER’s Leading Indicators Index posted a sharp decline in August, falling to 58. Five consecutive pullbacks suggest that breadth of growth is likely to narrow in the future. Furthermore, resurging Covid is impacting consumers and threatening the outlook. Caution is warranted.” – Robert Hughes

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Weekly Initial Claims for Unemployment Benefits Fall to the Lowest Level Since March 2020

– September 9, 2021

“Weekly initial claims for unemployment benefits fell to a new pandemic low. A tight labor market and a record number of open jobs should help drive initial claims lower, but waves of new Covid cases will continue to disrupt economic activity.” – Robert Hughes

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Job Openings Hit Another Record High in July

– September 8, 2021

“Job openings hit another record high in July but the weaker-than-expected August jobs report and surging new Covid cases are clouding the economic outlook.” – Robert Hughes

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Covid Resurgence Hurts Recovery in Employment

– September 3, 2021

“Payrolls posted a disappointing gain in August as new Covid cases surge. The outlook is for continued recovery but the threats and headwinds to growth have increased substantially.” – Robert Hughes

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