The following graphs are for inbound and outbound traffic at the ports of Los Angeles and Long Beach in TEUs (TEUs: 20-foot equivalent units or 20-foot-long cargo container). Container traffic gives us an idea about the volume of goods being exported and imported – and possibly some hints about the trade report for January....
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CR Note: There are only a few areas where the MLS breaks down monthly sales by foreclosure, short sales and conventional (non-distressed) sale. I’ve been tracking the Sacramento market to watch for changes in the mix over time. (here was my post this morning: Distressed House Sales using Sacramento Data) Economist Tom Lawler sent...
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Earlier: • Summary for Week ending February 10th The key reports this week are January retail sales on Tuesday, and January housing starts on Thursday. The NAHB builder confidence report for February will be released on Wednesday. For manufacturing, the February NY Fed (Empire state) and Philly Fed surveys, and the January Industrial Production...
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From HotelNewsNow.com: STR: Upper-midscale hotels top weekly gains Overall, the U.S. hotel industry’s occupancy was up 5.5% to 51.7%, its ADR increased 3.1% to US0.45 and RevPAR was up 8.7% to US.98. This is the weak season for hotel occupancy, but this is solid improvement over the same week last year. Note: ADR: Average...
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From the BLS: Job Openings and Labor Turnover Summary There were 3.4 million job openings on the last business day of December, up from 3.1 million in November, the U.S. Bureau of Labor Statistics reported today. … Although the number of job openings remained below the 4.4 million openings when the recession began in...
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By request, here is an update to four key indicators used by the NBER for business cycle dating: GDP, Employment, Industrial production and real personal income less transfer payments. Note: The following graphs are all constructed as a percent of the peak in each indicator. This shows when the indicator has bottomed – and...
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From the BLS: Total nonfarm payroll employment rose by 243,000 in January, and the unemployment rate decreased to 8.3 percent, the U.S. Bureau of Labor Statistics reported today. Job growth was widespread in the private sector, with large employment gains in professional and business services, leisure and hospitality, and manufacturing. Government employment changed little...
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This is technical. Earlier this month there was some discussion about how the ISM manufacturing survey might be overstating the strength of manufacturing in December due to some seasonal adjustment issues. Here was a story from FT Alphaville: ‘Tis (still) the seasonality, ISM edition Today the ISM addressed this issue and released some revisions:...
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Even Big Media is catching on to the potential of seller financing in this tight housing market where you often find buyers who can’t get bank financing. I just came across this article in the WSJ that paints this scenario to a “t” and wanted to pass it on to you… Enjoy–and think about...
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The European Union leaders meet in Brussels tomorrow and there is a growing recognition that austerity alone will not work. From the NY Times: E.U. Leaders Set to Admit Austerity Is Not Enough European leaders are expected to conclude this week that what the debt-laden, sclerotic countries of the Continent need are a dose...
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