Economic data released this week shows jobless claims improving, manufacturing growing, but housing starts faltering.
In the short-term, people are buying stuff, and manufacturers are spinning up to make things as the supply crisis continues offshore. However, long-term, like buying a house, the market is stalling.
American are concerned about coming hyperinflation and buying today accordingly.
Continuing Jobless Claims (Nov 5) printed at 2.08M vs 2.12M consensus estimate.
Philadelphia Fed Manufacturing Survey (Nov) printed at 39 vs 24 estimate.
Initial Jobless Claims (Nov 12) printed at 268k vs 260k estimate.
Initial Jobless Claims 4-week average (Nov 12) printed at 272.75k.
MBA Mortgage Applications (Nov 12) printed at -2.8%.
Building Permits (MoM) (Oct) printed at 1.65M vs 1.638M estimate.
Housing Starts (MoM) (Oct) printed at 1.52M vs 1.576M estimate.
Building Permits Change (Oct) printed at 4% vs 3.5% estimate.
Housing Starts Change (Oct) printed at -0.7% vs 0.6% estimate.