Economy/Ecommerce
Economy Watch: Mortgage Delinquencies Drop
Fannie Mae reported on Friday that the single-family serious delinquency rate for the mortgages that it owns and insures dropped in May to 2.83 percent from 2.93 percent in April, down to the lowest level since January 2009, when delinquencies were on the way up.
Economy Watch: Pending Home Sales Continue Rising
The National Association of Realtor’s Pending Home Sales Index, a forward-looking indicator based on residential contract signings, but not closings, increased 6.7 percent to 112.3 in May from 105.2 in April.
Economy Watch: First Quarter GDP Revised Downward
Real gross domestic product increased at an annualized rate of 1.8 percent in the first quarter of 2013, according to the third and final estimate by the Bureau of Economic Analysis.
Economy Watch: Chicago Fed National Activity Index Sees Uptick
The Chicago Fed reported that its National Activity Index (CFNAI) increased to –0.30 in May from –0.52 in April, noting that production- and employment-related indicators drove the uptick.
‘Economy Watch’ Podcast with Dees Stribling: Ben Bernanke Spooks the Markets
Ben Bernanke spooks the markets, but the housing recovery is still chugging along.
Economy Watch: Most State Unemployment Rates Down
Twenty-five states had unemployment rate decreases, 17 states had increases and eight states and the District of Columbia had no change, the Bureau of Labor Statistics reported.
Economy Watch: Existing Home Sales Spike
Total existing-home sales rose 4.2 percent to an annualized rate of 5.18 million units in May from 4.97 million in April, and are 12.9 percent above the 4.59 million-unit pace in May 2012, according to the National Association of Realtors.
Economy Watch: Days Numbered for QE3?
Investors, economists and financial journalists were watching the Federal Open Market Committee as it concluded its second day of meetings, and in the end the FOMC surprised on the side of winding the stimulus down, or at least reducing the rate of bond-buying starting at the end of 2013.
Economy Watch: Housing Starts Up
Homebuilders were reported to be more optimistic on Tuesday, and on Wednesday they had some reason to be, though not quite to the level of irrational exuberance: housing starts in May came in at an annualized rate of 914,000 units, according to the Census Bureau.
Economy Watch: Homebuilders Happy
American homebuilders have finally climbed out of their crummy funk, according to the National Association of Home Builders.