Source: MNI Chicago business output slipped to in August after hitting a two-month high the month prior, as supply and staffing constraints hit production. The Chicago Business Barometer fell to 66.8 in August, down from July’s 73.4. The reading remains above the 50 threshold that separates expansion from contraction.Firms attributed the decline to the ongoing lack of raw … [Read more...] about Chicago Business Output Slips on Supply Shortage, Staffing Issues
Forex News
American Home Price Growth Hits Record-High for Third Straight Month in June
Source: S&P DJI US home prices grew by a record-high pace for the third straight month in June, as potential homebuyers shifted to suburban areas from urban apartments. The S&P CoreLogic Case-Shiller US National Home Price NSA Index rose by 18.6% in June, up from 16.8% in May. This is the highest reading in over 30 years of data collection.Acceleration was also … [Read more...] about American Home Price Growth Hits Record-High for Third Straight Month in June
Euro Area Inflation Hits 10-Year High in August as Energy Prices Surge
Source: Eurostat Eurozone inflation is likely to have accelerated to a decade-high in August, driven by higher prices of energy and industrial goods during the month. August inflation is expected at 3.0%, the highest since 2011. This compares with 2.2% in July and -0.2% in August 2020.Energy inflation is predicted to be the highest at 15.4%, up from 14.3% in July and … [Read more...] about Euro Area Inflation Hits 10-Year High in August as Energy Prices Surge
China’s Economy Contracted in August, as Manufacturing PMI Dropped to 50.1
Source: Reuters China’s businesses and the wider economy came under significant pressure in August as factory activity grew at a slower pace while the services sector dropped into contraction. CSI 300 Index down -0.16%, CNY USD up +0.07% China’s economy posted an impressive recovery from the Covid-19-engineered slump, but momentum has weakened due to domestic Covid-19 … [Read more...] about China’s Economy Contracted in August, as Manufacturing PMI Dropped to 50.1
Pending Home Sales Moderate as Prices Hit All-Time Highs
Source: NAR Pending home sales slipped in July, as buyers reconsidered with prices hitting all-time highs. VNQ is up 0.45%, MORT is down 0.46%, and IYR is up 0.49%. The Pending Home Sales Index fell 1.8% both-month-on-month and 8.5% year-on-year to 110.7 in June. A 100 index is equivalent to activity in 2001.The Northeast PHSI fell 6.6% month-on-month and 16.9% … [Read more...] about Pending Home Sales Moderate as Prices Hit All-Time Highs
