U.S. Economic News
August 20, 2020
U.S. Economic Indicators
Initial jobless claims rose 135,000 to 1,106,000 last week. The four-week moving average decreased 79,000 to 1,175,750. DOL Report
The Conference Board’s Leading Economic Index (“LEI”) increased 1.4% in July following a 3.0% increase in June. While improvements in manufacturing hours, building permits, and initial unemployment claims helped bolster the LEI in July, the slower pace of improvement suggests that the economic recovery is losing steam. Conference Board Report
U.S. News
Bloomberg reports that many Americans are leaving urban centers and moving to less densely populated areas amid the pandemic, leading to a surge in demand for single-family suburban homes. However, real estate experts are uncertain how long the housing boom can last, as federal aid programs expire and the pace of economic recovery slows. Bloomberg