11/1: MetroIntelligence Economic Update by P. DUFFY

Fed lowers interest rates another 25 basis points to 1.50 percent In light of the implications of global developments for the economic outlook as well as muted inflation pressures, the Federal Open Market Committee decided to lower the target range for the federal funds rate to 1-1/2 to 1-3/4 percent. https://www.federalreserve.gov/newsevents/pressreleases/monetary20191030a.htm   Third quarter GDP grew 1.9 percent in first of three estimates Real gross domestic product (GDP) increased at an annual rate of 1.9 percent in the third quarter of 2019 according to the “advance” estimate released by the…

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10/31: MetroIntelligence Economic Update by P. DUFFY

Pending home sales rose 1.5 percent in September and 3.9 percent year-on-year The Pending Home Sales Index rose 1.5% to 108.7 in September. Year-over-year contract signings jumped 3.9%. An index of 100 is equal to the level of contract activity in 2001. https://www.nar.realtor/newsroom/pending-home-sales-rise-1-5-in-september   Case-Shiller Index up 0.3 percent in August and 3.2 percent year-on-year The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S. census divisions, reported a 3.2% annual gain in August, up from 3.1% in the previous month. After seasonal adjustment, the National…

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