Thursday, August 28, 2014
Inquirer Daily News

Archive: July, 2013

POSTED: Wednesday, July 31, 2013, 3:13 PM

In a Nutshell: "The Committee will closely monitor incoming information on economic and financial developments in coming months."

Rate Decision: Fed funds rate maintained at a range between 0% and 0.25%

Quantitative Easing Decision: Bond purchases remain at $85 billion

Joel L. Naroff @ 3:13 PM  Permalink | 0 comments
POSTED: Wednesday, July 31, 2013, 11:47 AM

INDICATOR: Second Quarter GDP/ADP July Jobs Estimate

KEY DATA: GDP: +1.7%; Consumption: +1.8%; Investment: +9%/ADP: 200,000

IN A NUTSHELL: "While the economy limps along, job gains seem to be holding up quite well."

Joel L. Naroff @ 11:47 AM  Permalink | 0 comments
POSTED: Tuesday, July 30, 2013, 3:59 PM

INDICATOR: May Case Shiller Home Price Index/June CoreLogic Foreclosures

KEY DATA: Case Shiller (20-Cities): up 1%; Year-over-Year: up 12.2%/CoreLogic Foreclosures: up 2.5%; Year-over-Year: down 20%

IN A NUTSHELL: "Home prices are rising and with the distressed homes falling sharply, those home price increases are likely to continue for a while."

Joel L. Naroff @ 3:59 PM  Permalink | 0 comments
POSTED: Thursday, July 25, 2013, 10:06 AM
In this April 27, 2012 photo, washing machines and air conditioners line the aisles of a Cowboy Maloney's Electric City Superstore in Jackson, Miss. (AP Photo/Rogelio V. Solis)

INDICATOR: June Durable Goods/Weekly Jobless Claims

KEY DATA: Durables: +4.2%; Excluding Aircraft: +1.5%; Business Investment: +0.7%/Claims: 343,000 (up 7,000)

IN A NUTSHELL: "Demand for big-ticket items remains strong but the continued growth is not being translated into a lot more jobs."

Joel L. Naroff @ 10:06 AM  Permalink | 0 comments
POSTED: Wednesday, July 24, 2013, 1:58 PM

INDICATOR: June New Home Sales

KEY DATA: Sales: up 8.3%; Year-over-Year: up 38.1%; Median Prices (Year-over-Year): up 7.4%

IN A NUTSHELL: "The jump in new home sales is great news but whether it was due to growing demand or fears of even higher mortgage rates is not clear."

Joel L. Naroff @ 1:58 PM  Permalink | 0 comments
POSTED: Tuesday, July 23, 2013, 4:02 PM
(AP Photo/Paul Sakuma)

INDICATOR: May Federal Housing Finance Agency Home Prices

KEY DATA: FHFA: +0.7%; Year-over-Year: +7.3%

IN A NUTSHELL: "Home prices continue to rise but the pace may be slowing."

Joel L. Naroff @ 4:02 PM  Permalink | 0 comments
POSTED: Monday, July 22, 2013, 3:51 PM
There is some concern that a slowdown in housing could occur. The June data don't give us much of an insight into that possibility. (AP photo)

INDICATOR: June Existing Home Sales

KEY DATA: Sales: 5.08 million units annualized (down 1.2%); Prices (Year-over-Year): up 13.5%

IN A NUTSHELL: "Home sales are hanging in but it is too early to tell what the impact will be of the jump in mortgage rates."

Joel L. Naroff @ 3:51 PM  Permalink | 0 comments
POSTED: Thursday, July 18, 2013, 3:33 PM
The stock market is hitting new highs but interest rates are up and gasoline prices are jumping so where are we going?

INDICATOR: June Leading Indicators/July Philadelphia Fed Survey/Jobless Claims

KEY DATA: Leading Indicators: 0.0%/Phila Fed: up 7.3 points; Expectations: up 11.2 points/ Claims: 334,000 (down 24,000)

IN A NUTSHELL: "If growth was moderating in June, before the impact of higher rates hit, where will growth be during the summer?"

Joel L. Naroff @ 3:33 PM  Permalink | 0 comments
About this blog
Joel L. Naroff is the president and founder of Naroff Economic Advisors, a strategic economic consulting firm in Bucks County. He advises companies across the country on the risks and opportunities that economic developments may have on the organization’s operating environment. An accomplished public speaker, Joel’s humor and unique ability to make economics understandable have brought him a wide following. Reach Joel at joel@naroffeconomics.com .

Joel Naroff
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