Economy Watch: Personal Income Expands and Construction Spending Rises
Personal income increased 0.3 percent in January compared with December. Construction spending edged up by 0.1 percent in January as well. Wall Street took a dive on Monday, with investors apparently nervous about the situation in Crimea.
Economy Watch: 4Q GDP Growth Revised Downward; Fewer Homeowners Under Water; Pending Home Sales Down
Revised GDP number shows annualized rate of 2.4 percent for the fourth quarter of 2013. Also, Zillow data shows fewer homeowners under water, while the NAR reports pending home sales are down.
Economy Watch: Mortgage Delinquencies Dropping; Tapering Will Continue; 4Q GDP Numbers Released
The U.S. mortgage delinquency rate decreased more than 10 percent year over year. Also, Janet Yellen testifies before the Senate Banking Committee, hinting that the tapering will continue unless ‘significant’ change in outlook takes place.
Economy Watch: Existing Homes Sales Drop in January
Weather is blamed for slow single-family sales and the G20 announces plans for structural reforms to facilitate global growth.
Economy Watch: Mortgage Delinquencies Closer to “Normal” Levels
The MBA reports a decrease in residential delinquencies, while Bureau of Labor stats show that the the Consumer Price Index increased 0.1 percent in January.
Economy Watch: Home Starts Take a Dip in January
Housing starts drop 16 percent in January, and the Fed releases minutes hinting that tapering will continue at the slow pace previously seen.
Economy Watch: Did the Stimulus Stimulate the Economy?
The Congressional Budget Office examines the impact of the federal stimulus on its fifth anniversary, and both overseas stocks and commodities see an uptick on Presidents’ Day.
Economy Watch: Industrial Production Drops in January
The preliminary Reuters/University of Michigan consumer sentiment index for February came in at 81.2, unchanged from January. A dip in the current conditions component of the index, down 2.8 points to 94 — probably because of the recent weather — was offset by improvements in the expectations component, which were up 1.8 points to 73.
Economy Watch: Retail Sales Drop in January
Census Bureau says retail sales are down month-over-month, but up year-over-year. In addition, the MBA reports a 35 percent increase in January single-family sales from December.
Economy Watch: Residential Foreclosures Still Slowing Down
RealtyTrac reports that foreclosure filings are down 8 percent month-over-month, and DataQuick details a slow down in the SoCal home sale market.