Economy in Brief: November 2020

• State initial claims climb by 31,000 but maintain recent lower range. • Federal Pandemic Unemployment Assistance claims rise but also maintain low range. • Continuing claims decreased for state and PUA, while PEUC increase. • [...]

• Existing home sales reach highest level since February 2006. • Sales' strength is broad-based across regions. The National Association of Realtors (NAR) reported that sales of existing homes increased 4.3% (26.6% y/y) in October to [...]

• Growth continued though at a slower pace than in October. • Increases in orders, production and employment slowed. • Expectations for six months ahead also ebbed slightly. The Federal Reserve Bank of Kansas City reported that its [...]

• Leading index rises 0.7% in October. • Coincident indicators up 0.5%, suggesting a healthy start to Q4. • October coincident measure is up 4.3% annualized above the Q3 average. The Conference Board reported that its Composite Index [...]

• Headline index reverses some of October's improvement. • Component declines are broad-based. • Expectations weaken. The Federal Reserve Bank of Philadelphia reported that its General Factory Sector Business Conditions Index has [...]

To some, this chart may looks a lot like things are back to normal... but they are not The table below that presents growth rates on several established fixed timelines reveals some of wildness and complexity in evaluating car [...]

• Home purchase applications rise following two weeks of decline. • Refinancing applications weaken. The Mortgage Bankers Association Mortgage Loan Applications Index eased 0.3% (+68.6% y/y) in the week ended November 13, about as it [...]

• Single-family home building increases to highest level since April 2007. • Building permits hold steady. Housing starts rose 4.9% (14.2% y/y) in October to 1.530 million (SAAR) from 1.459 million in September, revised from 1.415 [...]