Thursday:• At 8:30 AM, The initial weekly unemployment claims report will be released. The consensus is for 215,000 initial claims, up from 211,000 last week.• At 8:30 AM, The Producer Price Index for October from the BLS. The consensus is for a 0.3% increase in PPI, and a 0.2% increase…

Thursday: PPI, Unemployment Claims, Fed Chair Powell Testimony

The Cleveland Fed released the median CPI and the trimmed-mean CPI this morning:According to the Federal Reserve Bank of Cleveland, the median Consumer Price Index rose 0.2% (2.3% annualized rate) in October. The 16% trimmed-mean Consumer Price Index rose 0.3% (3.6% annualized rate) during the month. The median CPI and…

Cleveland Fed: Key Measures Show Inflation Above 2% YoY in October, Core PCE below 2%

From the NY Fed: Household Debt Continues to Climb in Third Quarter as Mortgage and Auto Loan Originations Growhe Federal Reserve Bank of New York’s Center for Microeconomic Data today issued its Quarterly Report on Household Debt and Credit, which shows that total household debt increased by $92 billion (0.7%)…

NY Fed Q3 Report: "Household Debt Continues to Climb in Third Quarter as Mortgage and Auto Loan Originations Grow"

Testimony from Fed Chair Jerome Powell Before the Joint Economic Committee, U.S. Congress, Washington, D.C.: The Economic Outlook. Excerpts: The U.S. economy is now in the 11th year of this expansion, and the baseline outlook remains favorable. Gross domestic product increased at an annual pace of 1.9 percent in the…

Fed Chair Powell: The Economic Outlook

Another solid regional market in October.From the HAR: Buyers Maintain Demand for Houston Housing in OctoberContinued low mortgage interest rates kept consumers in a buying mood in October, powering home sales to a fourth consecutive positive month. According to the latest monthly report from the Houston Association of Realtors (HAR),…

Houston Real Estate in October: Sales up 6% YoY, Inventory Up 7%

From the BLS: The Consumer Price Index for All Urban Consumers (CPI-U) rose 0.4 percent in October on a seasonally adjusted basis after being unchanged in September, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 1.8 percent before seasonal adjustment….The…

BLS: CPI increased 0.4% in October, Core CPI increased 0.2%

Wednesday:• At 7:00 AM ET, The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.• At 8:30 AM, The Consumer Price Index for October from the BLS. The consensus is for a 0.3% increase in CPI, and a 0.2% increase in core CPI.• At 11:00…

Wednesday: CPI, Fed Chair Powell Testimony, Q3 Quarterly Report on Household Debt and Credit

From Dodge Data Analytics: Dodge Momentum Index Moves Higher in OctoberThe Dodge Momentum Index increased 6.9% in October to 152.6 (2000=100) from the revised September reading of 142.7. The Momentum Index, issued by Dodge Data & Analytics, is a monthly measure of the first (or initial) report for nonresidential building…

Leading Index for Commercial Real Estate Increased in October

CR Note: Most of this survey is noise, but there is some information, especially on the labor market and the “Single Most Important Problem”.From the National Federation of Independent Business (NFIB): October 2019 Report: Small Businesses Continue to Push the Economy ForwardThe small business half of the economy continued its…

Small Business Optimism Index Increased Slightly in October

During the recession, I wrote about the troubles in Las Vegas and included a chart of visitor and convention attendance: Lost Vegas. Since then Las Vegas visitor traffic recovered to new record highs.However, in 2018, visitor traffic declined 0.2% compared to 2017, but was still 7.5% above the pre-recession peak.Convention…

Las Vegas: Convention Attendance and Visitor Traffic up Slightly in 2019 Through September