U.S. Economic News
September 26, 2019
U.S. Economic Indicators
The third estimate of Q2 GDP indicates that the U.S. economy expanded at an annualized rate of 2.0%, unchanged from the prior estimate. The latest reading reflects downward revisions to consumer expenditures and nonresidential investment offset by upward revisions to government spending and net exports. BEA Report
The U.S. Census Bureau Advance Economic Indicators Report shows that the goods deficit widened to $72.8 billion in August from $72.5 billion (revised) in July. Meanwhile, wholesale inventories rose 0.4% and retail inventories were unchanged. Census Bureau Report
The National Association of Realtors pending home sales index increased 1.6% in August (up 2.5% Y/Y). NAR reports that buyers are responding favorably to low interest rates, with home prices expected to appreciate as demand rises in the absence of an increase in supply. NAR Report
Initial jobless claims rose 3,000 to 213,000 last week. The four-week moving average fell 750 to 212,000. DOL Report