1 / 12

09-22-10 economist report

09-22-10 economist report. Summer Recap. Summer Recap. Economic standstill. Expiration of first time homebuyer tax credit led to 27.2% drop in July home sales. Fear of a double-dip recession. Frustrated economists and investors predicted very slow growth.

betty
Download Presentation

09-22-10 economist report

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. 09-22-10economist report

  2. Summer Recap

  3. Summer Recap • Economic standstill. • Expiration of first time homebuyer tax credit led to 27.2% drop in July home sales. • Fear of a double-dip recession. • Frustrated economists and investors predicted very slow growth. • Federal Reserve warned recovery may take up to 6 more years. • Some positive signs (i.e. August 26 jobless claims of 473,000, which were 22,000 fewer than expected).

  4. Recent Developments • Positive housing starts report for August. • Rose 10.5%, crushing the estimate of 0.7% growth. • Still “astoundingly weak” –Paul Dales • Much of this gain came from the more volatile multi-family homes (apartments, condos, etc.), which many consider less important than single-family homes (4.3%).

  5. Recent Developments • FOMC Meeting • Federal Open Market Committee met yesterday (09-21-10). • Worried about low inflation. • Lack of action likely tied to political situation. • Committee hinted that November meeting could be more decisive.

  6. Recent Developments • Keeping an eye on unemployment. • Recession officially over . • Most people feel true recovery impossible until we bring down the high rate of unemployment. • Unemployment =lagging indicator.

  7. Coming up… • Existing home sales: September 23. • Durable goods orders: September 24. • Consumer confidence: September 28. • Final revised report of Quarter 2 GDP: September 30. • Political situation.

More Related