Housing starts increased 3.5% to a 560,000 annual pace in May and the previous two months were revised slightly higher. This is a rare item of good news amidst a flurry of sour economic reports in the last two months. The May total is almost at the 565,000 monthly average over the last year. The housing market remains stalled. The May gain is not a signal that sustained gains are immediately ahead.
December U.S. housing starts and building permits data are out. Starts fell 9.8% to 999,000 units at an annualized pace. November's starts figure was revised up to 1.107 million units annualized from 1.091 million. Building permits ... Read Post
In a small but still encouraging sign the economic recovery has picked up, the government on Thursday revised its estimate of third-quarter growth slightly upward to an annualized rate of 2.6%. The figure is up from the previous est... Read Post
WASHINGTON (Reuters) - The U.S. economy likely created 7,000 more jobs in the 12 months through March than previously estimated, the Labor Department said on Thursday. The reading is a preliminary estimate of the department's annual... Read Post