Subscribe to our free, weekly email newsletter!



Economists say this is a week to watch

By Patrick Burnson, Executive Editor
October 24, 2011

Housing was in the limelight this past week, and the story is unchanged.

According to IHS Global Insight, The single-family housing market remains stuck at the bottom, while the multi-family market is slowly getting back on track.

Economists report that with nine months of data, 2011 is shaping up to be the worst year on record for single-family housing starts, single-family permits, and existing home sales. New home sales, which come out this week, will also set a record low in 2011. Still, September was a banner month for housing starts, which climbed to their highest level in 17 months on a whopping 51 percent jump in the improving multi-family market.

IHS said the highlight in the very busy upcoming week will be the advance GDP release, which will show the economy growing at its fastest pace in the third quarter of 2011 since the second quarter of 2010.

The two most important measures of consumer confidence, the Conference Board’s consumer confidence index and Reuters/University of Michigan’s consumer sentiment index will show confidence and sentiment at recessionary levels in October.

Despite the gloom, IHS is projecting that the personal income and outlays release will show that real consumer spending increased modestly in September and during the third quarter. The new home sales release for September will show sales still on track for a record low year.

Finally, said economists, durable goods orders will be down in September on a drop in aircraft orders, while the employment cost index will show that wage pressures in the third quarter “remained subdued.”

About the Author

image
Patrick Burnson
Executive Editor

Patrick Burnson is executive editor for Logistics Management and Supply Chain Management Review magazines and web sites. Patrick is a widely-published writer and editor who has spent most of his career covering international trade, global logistics, and supply chain management. He lives and works in San Francisco, providing readers with a Pacific Rim perspective on industry trends and forecasts. You can reach him directly at .(JavaScript must be enabled to view this email address).


Subscribe to Logistics Management magazine

Subscribe today. It's FREE!
Get timely insider information that you can use to better manage your
entire logistics operation.
Start your FREE subscription today!

Recent Entries

The value of exports from America’s Foreign-Trade Zones increased by 13.7 percent in 2013, to a record-high 79.5 billion in merchandise exported, according to figures released by the U.S. Foreign-Trade Zones Board in its Annual Report to Congress.

While summer may be nearing its end, the climate in the manufacturing sector remains very warm, according to the most recent edition of the Manufacturing Report on Business issued today by the Institute for Supply Management.

When publicly-traded Class I freight railroad and intermodal service providers issued second quarter earnings results earlier this summer, the topic of less than ideal service on the rails was a common theme within the earnings releases and question and answer sessions with top management at those companies.

Supply chain security provider Freightwatch International has released its semi-annual report on cargo theft in the Asia Pacific region for the first half of 2014, which contains some heartening news for U.S. shippers reliant on trucking, warehousing and retail.

FedEx Ground, a subsidiary of FedEx Corporation, reports today that a decision by a three-judge panel of the United States Court of Appeals for the Ninth Circuit reversed previous rulings by the District Court for the Northern District of Indiana in three class action cases involving mostly former independent contractors for FedEx Ground

Article Topics

Blogs · Global Logistics · Logistics · Economy · All topics

Comments

Post a comment
Commenting is not available in this channel entry.


© Copyright 2013 Peerless Media LLC, a division of EH Publishing, Inc • 111 Speen Street, Ste 200, Framingham, MA 01701 USA