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US economy

US factory orders surge, but business spending on equipment slowing
World

US factory orders surge, but business spending on equipment slowing

  • The Commerce Department said on Thursday that factory orders shot up 2.6% after rising 1.6% in December. Economists polled by Reuters had forecast factory orders advancing 2.1% in January. Orders increased 1.3% on a year-on-year basis.
  • Unfilled orders at factories edged up 0.1% in January after decreasing 0.2% in December.
Updated 04 Mar, 2021 09:52pm
US mortgage rates jump by most in nearly a year
World

US mortgage rates jump by most in nearly a year

  • The contract rate on a 30-year fixed-rate mortgage, the most popular US home loan, rose by 0.15 percentage point to 3.23% in the week ended Feb. 26.
  • The MBA said its weekly index of mortgage applications rose 0.5% to 794.5, its first increase in four weeks.
Published 03 Mar, 2021 07:13pm
US existing home sales unexpectedly rise in January
World

US existing home sales unexpectedly rise in January

  • Home resales, which account for the bulk of US home sales, surged 23.7% on a year-on-year basis.
  • The inventory crunch could ease as builders step up construction, though they are facing challenges from record lumber prices as well as shortages of land and labor.
Published 19 Feb, 2021 08:59pm
US housing starts fall in January; permits soar
World

US housing starts fall in January; permits soar

  • Housing starts decreased 6.0% to a seasonally adjusted annual rate of 1.580 million units last month, the Commerce Department said on Thursday.
  • Permits for future homebuilding shot up 10.4% to a rate of 1.881 million units in January. Permits typically lead starts by one to two months.
Published 18 Feb, 2021 08:01pm
US retail sales rebound strongly in January amid additional stimulus
World

US retail sales rebound strongly in January amid additional stimulus

  • Retail sales surged by a seasonally adjusted 5.3% last month, the Commerce Department said on Wednesday.
  • Further gains in sales are expected in the months ahead. The US Congress is considering President Joe Biden's $1.9 trillion recovery plan, which will include an additional $1,400 checks to households.
Published 17 Feb, 2021 08:56pm
PIMCO says 2021 'not a time for excessive optimism'
World

PIMCO says 2021 'not a time for excessive optimism'

  • In its 2021 outlook published Tuesday, the California-based fixed-income investor, which manages over $2 trillion in assets.
  • Investors may have become too complacent as reflected by the bullish consensus positioning. As these risk factors underline.
Published 12 Jan, 2021 08:44pm