U.S. Economic News
November 15, 2018
U.S. Economic Indicators
Retail sales rose 0.8% in October and were up 4.6% on the year. Core sales — which excludes autos, gasoline, building materials, and food services — increased 0.3%. Census Bureau Report
Business inventories were up 0.3% in September and were up 4.4% from last year. Manufacturers’ sales increased 0.9% and were up 6.7% on the year. Census Bureau Report
Initial jobless claims rose 2,000 to 216,000 last week. The four-week moving average increased 1,500 to 215,250. DOL Report
The March Empire State Manufacturing Survey indicated that industrial activity in the New York region grew at a solid clip, as the headline index inched up 2 points to 23.3. The new orders index edged down to 20.4, the shipments index was little changed at 28.0, and the index for number of employees rose to 14.1; meanwhile, hours worked increased. NY Fed Report
U.S. News
Neil Irwin of the New York Times writes that despite a booming economy the U.S. housing market is slumping. Irwin points to the fact that home prices have risen twice as fast as incomes in several major cities, which has priced many buyers out of the market now that mortgage rates have jumped above 5%. NYT