October 23, 2017 Weekly Economic Update
Existing home sales advanced 0.7% last month, according to a National Association of Realtors report. This gain broke a 3-month streak of retreats.
Existing home sales advanced 0.7% last month, according to a National Association of Realtors report. This gain broke a 3-month streak of retreats.
Two economic indicators stood out last week. Retail purchases rose 1.6% during September as households and businesses replaced cars damaged in hurricanes.
The Department of Labor’s September employment report revealed the impact of Hurricanes Harvey and Irma: it showed 33,000 fewer people working.
PERSONAL SPENDING BARELY IMPROVES – Consumer spending increased by only a seasonally adjusted 0.1% in August, while consumer incomes rose 0.2%.
Economists had long assumed consumer prices would rise abruptly at some point, and they certainly did last month. The CPI increased 0.4% in August.
Credit reporting agency Equifax disclosed that hackers had raided its databases this spring, accessing the personal information of up to 143 million people.
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