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Economy

“Key Fed inflation measure rose 0.4% in January as expected, up 2.8% from a year ago”

“… …” https://www.cnbc.com/2024/02/29/pce-inflation-january-2023-.html Inflation is up and unfortunately its going to get worse. Banks are going to have some major problems in March. This doesn’t bode well for the economy.

Economy

“Retail sales tumbled 0.8% in January, much more than expected”

“…Advance retail sales declined 0.8% for the month following a downwardly revised 0.4% gain in December, according to the Census Bureau. A decrease had been expected: Economists surveyed by Dow Jones were looking for a drop of 0.3%, in part to… Continue Reading…

Economy

“Prices rose more than expected in January as inflation won’t go away”

“…The consumer price index, a broad-based measure of the prices shoppers face for goods and services across the economy, increased 0.3% for the month, the Bureau of Labor Statistics reported. On a 12-month basis, that came out to 3.1%, down… Continue Reading…

Economy

“U.S. economy added 353,000 jobs in January, much better than expected”

“…Nonfarm payrolls expanded by 353,000 for the month, much better than the Dow Jones estimate for 185,000, the Labor Department’s Bureau of Labor Statistics reported Friday. The unemployment rate held at 3.7%, against the estimate for 3.8%. Wage growth also showed… Continue Reading…

Economy

“Drugmakers set to raise U.S. prices on at least 500 drugs in January”

“Drugmakers including Pfizer, Sanofi and Takeda Pharmaceutical plan to raise prices in the United States on more than 500 unique drugs in early January, according to data analyzed by healthcare research firm 3 Axis Advisors. The expected price hikes come as the pharmaceutical industry gears… Continue Reading…

Economy

“Job openings declined in January but still far outnumber available workers”

“Job openings declined slightly in January but still far outnumber available workers as the labor picture remains tight, according to data released Wednesday. The Labor Department’s Job Openings and Labor Turnover Survey showed there are 10.824 million openings, down some… Continue Reading…

Economy

“160,138,000: Record Number of Employed in January”

“The Labor Department’s Bureau of Labor Statistics says a whopping 517,000 non-farm jobs were created in January, way above estimates of 183,000. “Job growth was widespread, led by gains in leisure and hospitality (+128,000), professional and business services (+82,000), and… Continue Reading…

Real Estate

“January home sales jump 6.7% despite a record low supply”

“Sales of previously owned homes in January rose 6.7% from December to a seasonally adjusted annualized rate of 6.5 million units, according to the National Association of Realtors. That exceeded Wall Street expectations significantly. Sales were 2.3% lower compared with… Continue Reading…

Economy

“Retail sales surge 3.8% in January, much more than expected amid inflation rise”

“…Retail sales for the month rose 3.8%, much better than the 2.1% Dow Jones estimate. The numbers are not adjusted for inflation; the 0.6% rise in the consumer price index for the month helped push a reversal from the 2.5% sales… Continue Reading…

Economy

“Payrolls show surprisingly powerful gain of 467,000 in January…”

“…Nonfarm payrolls surged by 467,000 for the month, while the unemployment rate edged higher to 4%, according to the Bureau of Labor Statistics. The Dow Jones estimate was for payroll growth of 150,000 and a 3.9% unemployment rate… Along with the… Continue Reading…