- FHFA HPI +0.4% m/m (+2.3% y/y) in August vs. -0.04% m/m (+2.4% y/y) in July.
- House prices up m/m in seven of nine census divisions but down in Pacific (-0.8%) and West South Central (-0.2%).
- House prices up y/y in eight of the nine regions, w/ the highest rate in Middle Atlantic (+6.3%) and a drop in Pacific (-0.6%).
Introducing
Winnie Tapasanun
in:Our Authors
Winnie Tapasanun has been working for Haver Analytics since 2013. She has 20+ years of working in the financial services industry. As Vice President and Economic Analyst at Globicus International, Inc., a New York-based company specializing in macroeconomics and financial markets, Winnie oversaw the company’s business operations, managed financial and economic data, and wrote daily reports on macroeconomics and financial markets. Prior to working at Globicus, she was Investment Promotion Officer at the New York Office of the Thailand Board of Investment (BOI) where she wrote monthly reports on the U.S. economic outlook, wrote reports on the outlook of key U.S. industries, and assisted investors on doing business and investment in Thailand. Prior to joining the BOI, she was Adjunct Professor teaching International Political Economy/International Relations at the City College of New York. Prior to her teaching experience at the CCNY, Winnie successfully completed internships at the United Nations. Winnie holds an MA Degree from Long Island University, New York. She also did graduate studies at Columbia University in the City of New York and doctoral requirements at the Graduate Center of the City University of New York. Her areas of specialization are international political economy, macroeconomics, financial markets, political economy, international relations, and business development/business strategy. Her regional specialization includes, but not limited to, Southeast Asia and East Asia. Winnie is bilingual in English and Thai with competency in French. She loves to travel (~30 countries) to better understand each country’s unique economy, fascinating culture and people as well as the global economy as a whole.
Publications by Winnie Tapasanun
USA| Oct 07 2025U.S. Consumer Credit Growth Slows in August After July’s Surge
- Consumer credit growth hits a six-month low.
- Revolving credit sees the first m/m decline since May.
- Nonrevolving credit posts the smallest m/m increase since March.
USA| Sep 25 2025U.S. Existing Home Sales Slip in August After July’s Rebound
- August sales -0.2% (+1.8% y/y) to 4.0 mil., the second m/m decline in three months.
- Sales patterns show mixed results: down in the Northeast and South, but up in the Midwest and West.
- Median sales price -0.7% (+2.0% y/y) to a 4-month-low $422,600.
- Unsold inventory -1.3% (+11.7% y/y) to 1.53 mil. units; 4.6 months' supply.
USA| Sep 25 2025U.S. Goods Trade Deficit Narrows in August After July’s Surge
- Deficit: $85.5 bil. in August, down $17.3 bil. (-16.8%) from July’s $102.8 bil.
- Exports -1.3%, the third m/m fall in four months, led by a 6.8% drop in consumer goods exports.
- Imports -7.0%, down for the fourth month in five, led by an 18.9% plunge in imports of industrial supplies & materials.
USA| Sep 24 2025U.S. New Home Sales Surge in August Amid Lower Mortgage Rates
- August sales +20.5% (+15.4% y/y) to 800,000; largest m/m gain in 3 yrs.; highest level since Jan. '22.
- Sales up m/m in all four regions; sales down y/y only in the West (-5.7% y/y).
- Median sales price at a 3-month-high $413,500; avg. sales price at a 3-year-high $534,100.
- Months' supply of new homes for sale drops to 7.4 mths., lowest since July '23.
- CFNAI -0.12 in August, highest since March; -0.28 in July.
- Three of four CFNAI components up m/m, but three make negative contributions.
- CFNAI-MA3 improves to -0.18, the fourth straight negative reading; still above -0.70 (recession signal).
- CFNAI Diffusion Index increases to -0.24, highest since April.
USA| Sep 16 2025U.S. Industrial Production Edges Up in August on Auto Rebound
- August IP +0.1% (+0.9% y/y), driven by a 2.6% recovery in motor vehicle production.
- Mfg. IP +0.2%, w/ durables up 0.2% and nondurables up 0.3%.
- Mining output +0.9%, the third m/m rise in four mths.; utilities output -2.0%, down for the third month in four.
- Key categories in market groups mostly increase.
- Capacity utilization unchanged at 77.4%; mfg. capacity utilization up 0.1%pt. to 76.8%.
USA| Sep 10 2025U.S. Mortgage Applications Rebound 9.2% in the September 5 Week
- Purchase applications +6.6% w/w; refinancing loan applications +12.2% w/w.
- Effective interest rate on 30-year fixed-rate loans falls to 6.66%, the lowest since October.
- Average loan size rises to the highest level since the April 11 week.
- Headline: -1.3% m/m; +1.6% y/y, the smallest y/y gain in three months.
- Durable goods orders (-2.8%) down, but nondurable goods orders (+0.3%) and shipments (+0.9%) both up three straight months.
- Transportation equipt. orders -9.5% m/m, w/ a 32.7% drop in nondefense aircraft & parts orders.
- Unfilled orders unchanged after two successive m/m increases.
- Inventories +0.3%, the third consecutive m/m rise.
USA| Sep 02 2025U.S. Construction Spending Eases in July
- Headline: -0.1% m/m, the third straight m/m fall; -2.8% y/y, the sixth straight y/y slide.
- Residential private construction +0.1% m/m, up for the first time since December.
- Nonresidential private construction -0.5% m/m, the third consecutive m/m decline.
- Public sector construction +0.3% m/m, led by a 1.8% rebound in residential public building.
- Deficit: $103.57 bil. in July, jumping 22.1% from June’s $84.85 bil.
- Exports -0.1%, down for the third straight month, led by a 2.4% decline in exports of other goods.
- Imports +7.1%, up for the first time since March, led by a 25.4% surge in imports of industrial supplies & materials.
USA| Aug 25 2025Texas General Business Activity Turns Slightly Negative in August, But Expectations Remain Positive
- General business activity -1.8 in Aug. vs. +0.9 in July.
- Company outlook (3.3) positive for the second straight mth.; production (15.3) still above historical avg.
- New orders growth (2.6) and new orders (5.8) up; both positive for the first time since Jan.
- Employment (8.8) rises, the fourth consecutive expansion and the highest since Sept. ’23.
- Prices received index up 4 pts. to 15.1; prices paid index up to a 4-month-high 43.7.
- Future general business activity up to 24.8, the highest since Jan.
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