Source: Bloomberg Lumber futures dropped to the lowest level in over nine months after sawmills increased production and demand from builders stabilized. LBS down -2.42%, DXY down -0.14% September futures in Chicago dropped 4.4% to $482.90 per thousand board feet, the lowest for a most active futures contract.The decline signals a drop of over 70% from the record … [Read more...] about Lumber Futures Drops to 4.4%, The Lowest Level Since October 2020
American Hourly Earnings Down for Seventh Straight Month
Source: Bureau of Labor Statistics Average hourly earnings for American employees fell in July, marking the seventh straight month of declines. Real average hourly earnings for all employees decreased by 0.1% from June to July.The reading compares with the 0.5% decline in June and the 0.4% drop in July 2020. Earnings have declined in all the months of 2021 so far.Hourly … [Read more...] about American Hourly Earnings Down for Seventh Straight Month
US Inflation Still Highest in Over a Decade
Source: Bureau of Labor Statistics US inflation stood steady at a 13-year high in July, as supply issues and heightened demand impacted prices of goods during the period. Annual inflation remained at 5.4% in July, unchanged from June. This is the highest since 2008.Core inflation, which excludes food and energy, rose stood at 4.3%. The food index climbed 3.4%, higher … [Read more...] about US Inflation Still Highest in Over a Decade
Biden’s Economic Agenda Gains Ground as Senate Democrats Support $3.5T Blueprint
Source: Bloomberg Senate Democrats have passed a $3.5-trillion budget blueprint that would pave the way for the economic agenda pushed by President Joe Biden. The measure recorded a 50-49 vote, with Democrats controlling the Senate.The proposal includes provisions for universal pre-K for children aged three and four, paid family leave, and two years of tuition-free … [Read more...] about Biden’s Economic Agenda Gains Ground as Senate Democrats Support $3.5T Blueprint
Biden’s $550 Billion Infrastructure Plan Hurdles Senate
Source: Bloomberg The United States Senate approved a $550-billion infrastructure plan, making President Joe Biden’s economic agenda one step closer to realization. The measure recorded a bipartisan vote of 69-30, including 50 Democrats and 19 Republicans who voted in favor.The approval comes months after negotiations, Republican lawmakers forcing Democrats to exhaust … [Read more...] about Biden’s $550 Billion Infrastructure Plan Hurdles Senate
