11/8: MetroIntelligence Economic Update by P. DUFFY

September CoreLogic Home Price Index up 0.4 percent from August and 3.5 percent year-on-year

The September CoreLogic Home Price Index (HPI™) rose 0.4 percent from August and 3.5 percent year-on-year.  In addition, the CoreLogic HPI Forecast indicates annual price growth will increase another 5.6 percent by September 2020.

https://www.corelogic.com/news/corelogic-reports-september-home-prices-increased-by-3.5-year-over-year.aspx

 

3Q 2019 labor productivity slipped 0.3 percent, first decline since 4Q 2015

Nonfarm business sector labor productivity decreased for the first time since late 2015 in the third quarter of 2019, falling by 0.3 percent in the third quarter of 2019 as output increased 2.1 percent and hours worked increased 2.4 percent.  However, from the third quarter of 2018 to the third quarter of 2019, productivity increased 1.4 percent, reflecting a 2.3-percent increase in output and a 0.9-percent increase in hours worked.

https://www.bls.gov/news.release/prod2.nr0.htm

 

Inflation tracker PCE price index flat in September, up just 1.3 percent year-on-year

Both the inflation-tracking overall PCE price index and the index excluding food and energy were flat in September.  Year-over-year, the PCE price index rose 1.3 percent, while the index excluding food and energy increased 1.7 percent, or below the 2.0-percent level preferred by the Federal Reserve.

https://www.bea.gov/news/2019/personal-income-and-outlays-september-2019

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