Chief Economist

WASHINGTON | US hiring slower but steady as employers add 155K jobs

WASHINGTON  — U.S. employers added 155,000 jobs in November, a slowdown from recent months but enough to suggest that the economy is expanding at a solid pace despite sharp gyrations in the stock market. The Labor Department said Friday that the unemployment rate remained 3.7%, nearly a five-decade low, for the third straight month. Average … Continue reading WASHINGTON | US hiring slower but steady as employers add 155K jobs

WASHINGTON | US home sales rise 1.4 percent, snap 6-month losing streak

WASHINGTON — U.S. home sales rose in October, breaking a six-month losing streak. But sales are still down from a year ago, hurt by rising interest rates. The National Association of Realtors says that sales of existing homes climbed 1.4 percent to a seasonally adjusted annual rate of 5.22 million last month from 5.15 million … Continue reading WASHINGTON | US home sales rise 1.4 percent, snap 6-month losing streak

FRANKFURT, Germany | Oil plunge could help consumers; Trump tweets ‘Enjoy!’

FRANKFURT, Germany — Holiday shoppers should enjoy more spending power thanks to the recent sharp drop in oil prices, though cheaper energy could also weigh on the U.S. economy by dampening investment in shale oil production. While the fall in oil prices doesn’t yet match the 2014-2016 slump to $26 per barrel, the current decline … Continue reading FRANKFURT, Germany | Oil plunge could help consumers; Trump tweets ‘Enjoy!’

WASHINGTON | US home sales fell in September to slowest pace in 3 years

WASHINGTON — U.S. home sales fell for the sixth straight month in September, a sign that housing has increasingly become a weak spot for the economy. The National Association of Realtors said Friday that sales declined 3.4 percent last month, the biggest drop in 2 ½ years, to a seasonally adjusted annual rate of 5.15 … Continue reading WASHINGTON | US home sales fell in September to slowest pace in 3 years

WASHINGTON | US retail sales edged up in September

WASHINGTON— U.S. consumer spending edged up a slight 0.1 percent in September, a disappointing performance in which rebounding auto sales were offset by weakness in other areas. But a category of retail sales that excludes volatile categories showed a much stronger 0.5 percent gain in September, a big improvement after no gain in August. The … Continue reading WASHINGTON | US retail sales edged up in September

Realtors® Chief Economist Reflects on Past Recession, What’s Ahead for Housing

WASHINGTON/ Aug. 27, 2018 (STL.News)– American financial and lending systems look vastly different nearly a decade after the defining moments of the Great Recession, thanks in part to safe and sound lending and regulatory policy reforms, strongly supported by the National Association of Realtors®. Today, home prices are at or approaching record highs in many … Continue reading Realtors® Chief Economist Reflects on Past Recession, What’s Ahead for Housing

WASHINGTON | IMF: A major trade rift could imperil solid global economy

WASHINGTON | April 17, 2018 (AP)(STL.News)  The International Monetary Fund warned Tuesday that rising trade tensions between the United States and China risk undermining a global economy that the IMF believes should otherwise grow solidly this year. The lending agency has kept its forecast for worldwide growth this year at 3.9 percent, which would be … Continue reading WASHINGTON | IMF: A major trade rift could imperil solid global economy

German business confidence falls in December

BERLIN  /December 19, 2017 (AP)(STL.NEWS) — A closely watched survey shows German business confidence is down in December, from a record high a month earlier. The Munich-based Ifo Institute said Tuesday its business climate indicator fell to 117.2 points from 117.6 points in November. The ebb in optimism was due to waning euphoria, with company … Continue reading German business confidence falls in December