Archive for June, 2011
U.S. existing home prices stabilized month to month in April
There were month-to-month increases in the April data on single-family home resale prices in the U.S., according to S&P Case-Shiller. Versus March, the 10-city composite index nudged up 0.8% and the 20-city composite index rose 0.7%. These were the first gains in eight months.
Housing Starts Inch Up in May, But Sustained Recovery Has Not Begun
The new home market strengthened slightly in May but only to the top of the range where it has been stuck for two years. However, the existing home market softened further with continuing declines in sales, prices and a rise in the inventory of homes for sale to 9.3 months, far above the 5-6 months that is the top of the normal range.
May Economic Growth Slows in Every Region
Economic growth slowed sharply in May in every part of the country as national economic growth slowed in response to higher commodity inflation, layoff due to the Japanese parts shortage and a significant drop in consumer and business confidence. Economic activity indexes declined marginally in twelve states.
Ranking States by Recent Economic Performance – May 2011
This chart shows the ranking of states by recent economic performance, including data on the last three months (annualized – May) and changes in economic activity for the latest three months (annualized) versus the previous year.
Supply chain disruptions and U.S. fiscal problems put temporary chill on outlook
The recent, larger-than-expected drop in the U.S. Institute for Supply Management’s (ISM) Purchasing Managers’ Index (PMI), plus the news that the U.S. economy added far fewer (54,000) jobs in May than had been projected (165,000), has clearly sent shivers through North American financial markets.
