U.S. Economic News
August 23, 2018
U.S. Economic Indicators
The FHFA House Price Index shows that U.S. house prices rose 1.1% in the second quarter and were up 6.5% from the same period last year. House prices rose in all fifty states and ninety-nine of the one hundred largest metropolitan areas. Report
New home sales fell 1.7% to a seasonally adjusted annual pace of 627,000 in July, but are 12.8% above the July 2017 rate. The median sales price rose to $328,700 and the inventory of new homes increased to 5.9 months at the current sales rate. Census Bureau Report
Initial jobless claims fell 2,000 to 210,000 last week. The four-week moving average decreased 1,750 to 213,750. DOL Report
U.S. News
The Wall Street Journal reports that Federal Reserve officials at their most recent meeting signaled that they are likely to raise interest rates in September. Most Fed officials see four rate hikes this year, though they also highlighted the risk from escalating trade disputes, which could be a headwind to growth and require slower rate increases. WSJ