Research Center
Economy Watch: 4Q GDP Estimate Pared Down
U.S. GDP wasn’t quite as robust in the fourth quarter of 2010 as the U.S. Department of Commerce had previously estimated. On Friday, growth was recalibrated by the Bureau of Economic Analysis to an annualized rate of 2.8 percent, down from an earlier estimate of 3.2 percent.
PODCAST: Economy Watch Weekly with Dees Stribling
For the week ending Feb. 25, as Libya blows up, so do oil prices; the federal government may be on the verge of a shutdown; and just when you thought the housing market couldn’t get any worse, turns out it might have been worse all along. Despite all this, consumer confidence shows resilience.
Economy Watch: New Homes Sales Slump in January
New home sales took a dive in January; Goldman Sachs predicts budget cuts would slow U.S. growth; and oil markets nervously await the outcome of the upheaval in Libya.
Economy Watch: Existing Homes Sales Up
Existing home sales rose unexpectedly during January, according to the National Association of Realtors (NAR), up 2.7 percent from the previous month. The annualized sales rate was 5.36 million units, which compares to roughly 4.9 million sold in all of 2010 (using NAR figures).
Economy Watch: Home Prices Headed for Double-Dip Territory
The latest S&P/Case-Shiller indexes on U.S. housing prices confirm that home valuations are still on the slide. In fact, almost all of the small pricing uptick experienced in 2009, which probably was a result of the long-gone federal homebuyer tax credit, has been erased. A continuing influx of distressed properties put further pressure on prices.
Economy Watch: Feds on Verge of a Nervous Shutdown
Is the federal government going to shut down because of the fracas between zealous House members (including freshman who weren’t around for the ’95 shutdown), somewhat less zealous members of Congress and the administration? On Saturday, the House passed by 235-189 a bill that cut more than $61 billion from fiscal 2011–the year underway–as part of a temporary funding measure.
PODCAST: Economy Watch Weekly with Dees Stribling
For the week ending Feb. 18, there was plenty happening, including a battle in Washington over the federal budget, opposing views on inflation, and the administration formally suggesting a slow process of winding down Fannie and Freddie.
Economy Watch: Multifamily Starts Hot, Single-Family Starts Not
An increase in multifamily starts offset a drop in single-family housing starts in January; and analysts are worried about inflation, although the Fed isn’t.
Economy Watch: The Winners and Losers of Retail
Retail didn’t see quite the jump in January for which many were hoping; Borders finally files for bankruptcy; and Family Dollar may go private.
Economy Watch: Battle of the Budgets Begins
The Obama administration released its version of the fiscal 2012 federal budget to compete with the House Republicans’ version, but neither side is willing to make cuts to non-discretionary spending.