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10-23-2006, 02:46 PM
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Hummer Guru
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Join Date: Dec 2002
Location: Anywhere you're not!
Posts: 5,006
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Economic Update
Sorry I haven't been writing these for a while. Been extremely busy.
Helped by sinking gasoline prices, consumer prices fell by 0.5% in September, the largest dip in 10 months, the Labor Department reported October 18. The decline was better than the 0.3% drop predicted by Wall Street analysts. Consumer core inflation, which excludes energy and food, rose 0.2%, the third straight month of modest gains.
Producer prices -- the prices that producers charge wholesalers -- fell by 1.3%, nearly double the expected decline and the largest in more than three years. Producer core inflation, however, jumped 0.6% in September, the biggest increase in 20 months. Much of the rise in core inflation was attributed to auto dealers ending their incentives to try to sell a glut of unsold cars.
Meanwhile, the Conference Board said on October 19 that its September Index of Leading Economic Indicators edged up 0.1%. The index, which had slipped 0.3% in July and 0.2% in August, is designed to predict economic activity three to six months in the future. The small September gain fits with economists' expectations that growth will slow in coming months.
Housing starts showed an unexpected rise of 5.9% in September, the Commerce Department reported October 18. While an improvement over August, September's housing starts are still 17.9% lower than a year ago. Issuance of building permits -- a key indicator of future building activity -- declined 6.3% in September, the biggest drop since October 2001.
After last week's gain, rates on 30-year fixed mortgages declined for the week ending October 19.
This week look for updates on existing home sales on October 25 and new home sales on October 26.
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10-23-2006, 04:03 PM
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Hummer Messiah
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Join Date: Feb 2003
Location: Federal penitentiary
Posts: 21,046
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Re: Economic Update
Quote:
Originally Posted by Adam in CO
Sorry I haven't been writing these for a while. Been extremely busy.
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Ahhhhhh! Please go back to car shopping. Thank you.
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<({O})>
Fishing Again.
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10-23-2006, 04:04 PM
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Hummer Messiah
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Join Date: Apr 2003
Location: Virginia Beach
Posts: 37,474
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Re: Economic Update
Thanks Adam... or whomever posted that for you.
Housing should be looking good over the next 6-12 months growing stronger.
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"My reading of history convinces me that most bad government results from too much government."---Thomas Jefferson
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10-23-2006, 04:33 PM
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Hummer Guru
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Join Date: Dec 2002
Location: Anywhere you're not!
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Re: Economic Update
Quote:
Originally Posted by CO Hummer
Ahhhhhh! Please go back to car shopping. Thank you.
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I'll remember that.
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10-23-2006, 04:52 PM
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Hummer Guru
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Join Date: Jul 2005
Location: Idaho
Posts: 4,744
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Re: Economic Update
Housing in MI is going downhill faster than in a mudslide.
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Black Sheep Hummer Squadron
(ME TOO)
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10-23-2006, 05:13 PM
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Hummer Guru
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Join Date: Dec 2002
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Re: Economic Update
Quote:
Originally Posted by f5fstop
Housing in MI is going downhill faster than in a mudslide.
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That's okay. It makes for the perfect window to exercise a "buy low, sell high" investment strategy.
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10-23-2006, 09:47 PM
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Hummer Guru
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Join Date: Jul 2005
Location: Idaho
Posts: 4,744
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Re: Economic Update
Quote:
Originally Posted by Adam in CO
That's okay. It makes for the perfect window to exercise a "buy low, sell high" investment strategy.
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Not sure if MI's economy will ever have a sell high strategy again.
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Black Sheep Hummer Squadron
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10-23-2006, 10:08 PM
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Hummer Messiah
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Join Date: Apr 2003
Location: Virginia Beach
Posts: 37,474
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Re: Economic Update
Quote:
Originally Posted by f5fstop
Not sure if MI's economy will ever have a sell high strategy again.
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Move south.
__________________
"My reading of history convinces me that most bad government results from too much government."---Thomas Jefferson
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10-23-2006, 10:11 PM
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Hummer Guru
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Join Date: Jul 2005
Location: Idaho
Posts: 4,744
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Re: Economic Update
Quote:
Originally Posted by KenP
Move south.
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In three years, I will be moving southwest...
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Black Sheep Hummer Squadron
(ME TOO)
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10-23-2006, 10:22 PM
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Hummer Messiah
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Join Date: Apr 2003
Location: Virginia Beach
Posts: 37,474
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Re: Economic Update
Quote:
Originally Posted by f5fstop
In three years, I will be moving southwest...
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Oooohhhhhh yeeeaaaaahhhhh.
__________________
"My reading of history convinces me that most bad government results from too much government."---Thomas Jefferson
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