Tag Archives: US Economy

Mortgage applications in the United States declined last week, despite the remaining historically low interest rates, data showed on Wednesday. The seasonally adjusted Purchase Index fell by 4.2% in the week ended May 21 on a weekly basis, according to the Mortgage Bankers Association (MBA). Data showed a 7.2% decrease …

House prices in the United States rose by 12.6% in the first quarter (Q1) of 2021, compared with the Q1 of 2020, data showed on Tuesday. The Federal Housing Finance Agency (FHFA) House Price Index (HPI) rose by 3.5% compared to Q4 of 2020. Meanwhile, FHFA’s seasonally adjusted monthly index …

The U.S. consumer confidence held steady in May, after rising in April, data by the Conference Board showed on Tuesday. The Consumer Confidence Index reached 117.2, compared with 117.5 in April. Meanwhile, the Present Situation Index rose from 131.9 to 144.3. As for the Expectations Index, it registered a decline …

A number of news reports and stories by major international media outlets on Monday shined a light on the rising importance of technology companies in the world economy, as well as their intersection with the issues of privacy and political conflicts. In India, the police announced that they visited a …

Borrowing for capital investments by companies in the United States amounted to $9.8 billion in April, increasing by 19% on an annual basis, according to data by the Equipment Leasing and Finance Association (ELFA) released on Tuesday. The surge in borrowing by U.S. companies came amid the recovery from the …

Home sales in the United States continued to decline during April for the third consecutive month, data showed on Friday. According to the National Association of Realtors (NAR) existing home sales fell by 2.7% to a seasonally adjusted annual rate of 5.85 million units last month. Meanwhile, home sales rose …

Factory activity in the United States expanded this month, supported by a robust local demand, data showed on Friday. The flash U.S. manufacturing purchasing managers’ index (PMI) rose to 61.5 in the first half of May from 60.5 in April, according to IHS Markit. This marked the highest reading for …

The President of the United States, Joe Biden, is set to reveal his first detailed budget proposal on May 28, the White House announced on Wednesday. The new budget will be for the upcoming fiscal year starting next October. Biden took office last January, making this the first fiscal year …

Applications for new claims of unemployment benefits in the United States declined below 500,000 last week, data showed on Thursday. The initial claims for state unemployment benefits decreased by 34,000 to a seasonally adjusted 444,000 for the week ended May 15, according to the U.S. Department of Labor. This marked …

The new leader of the Office of the Comptroller of the Currency (OCC), an independent bureau within the United States Department of the Treasury, has warned against overconfidence in the banking sector, calling for caution. Michael Hsu, pointed to the recent Archegos Capital fund crisis, which negatively impacted a number …