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

Working with research partner, The Economist Intelligence Unit, the IBM Institute for Business Value surveyed 1,023 global procurement executives from 41 countries in North America, Europe and Asia.

U.S. Carloads were down 7.8 percent annually at 259,544, and intermodal volume was off 15.7 percent for the week ending February 21 at 213,617 containers and trailers.

The Department of Transportation’s Bureau of Transportation Logistics (BTS) reported this week that U.S. trade with its North America Free Trade Agreement partners Canada and Mexico in December 2014 was up 5.4 percent annually at $95.8 billion. This marks the 11th straight month of annual increases, according to BTS officials.

While the volume decline was steep, there was numerous reasons behind it, including terminal congestion, protracted contract negotiations between the Pacific Maritime Association and the International Longshore and Warehouse Union, and other supply chain-related issues, according to POLA officials.

Truckload rates for the month of January, which measures truckload linehaul rates paid during the month, saw a 7.9 percent annual hike, and intermodal rates dropped 0.3 percent compared to January 2014, which the report pointed out marks the first annual intermodal pricing decline since December 2013.

Article Topics

Blogs · Global Logistics · Logistics · Economy · All topics

Comments

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


© Copyright 2015 Peerless Media LLC, a division of EH Publishing, Inc • 111 Speen Street, Ste 200, Framingham, MA 01701 USA