Wednesday, November 3, 2010

In charts: House prices, U.S. GDP and more Weekly graphical summary of the key economic reports

[mEDITate-OR:
not watch the Marketwatch graphs show U.S. "things"...
Each week they provide U.S. with another set of charts.
Unique, no; good, yes.
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New Home Sales:
Data released this week showed an increase in house market activity in September, with new-home sales (seen above) and existing-home sales both increasing. Both indicators, however, are at historically depressed levels. So while a floor may have been reached after the expiration of the first-time homebuyer’s tax credit, there’s still ample room to grow.
San Francisco, up 7.8%; San Diego, up 6.9%; Los Angeles, up 5.4%; Washington, up 4.8%; Minneapolis, up 2.9%; Boston, up 1.5%; Phoenix, up 0.4%; New York, up 0.1%;
Detroit, down 0.1%; Cleveland, down 0.4%; Miami, down 1.0%; Denver, down 1.2%; Dallas, down 1.7%; Atlanta, down 2.0%; Portland, down 2.3%; Seattle, down 2.4%; Chicago, down 2.9%; Charlotte, down 3.4%; Tampa, down 4.1%; and Las Vegas, down 4.5%.
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The most closely followed house price index, the S&P/Case-Shiller index, slipped 0.2% in August. The details were disturbing — 15 of the 20 metropolitan areas declined. There were several indexes released over the week, from those embedded in the existing- and new-home sales reports to one based on mortgages bought or guaranteed by Fannie Mae or Freddie Mac. While not universally negative, the gauges broadly showed a softening in prices.
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Weekly initial jobless claims dropped to 434,000, the third straight drop and the lowest level since early July. Most economists believe the indicator needs to fall to around the 400,000 level to signify an upswing in hiring.
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The U.S. economy grew at a 2% annualized clip in the third quarter, slightly faster than the 1.7% rate during the second quarter but not enough to actually get companies hiring again. Consumer spending returned, but business spending growth slowed. The figures aren’t likely to deter the Federal Reserve from announcing a second round of quantitative easing on Wednesday.
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In charts: House prices, U.S. GDP and more
Weekly graphical summary of the key economic reports
http://www.marketwatch.com/story/in-charts-house-prices-us-gdp-and-more-2010-10-29
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U.S. home prices drop 0.2% in August - Report is ‘disappointing,’
http://www.marketwatch.com/story/us-home-prices-fall-02-in-august-case-shiller-2010-10-26
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Jobless claims drop 21,000 to 434,000
Continuing claims down 122,000 at 4.36 million
http://www.marketwatch.com/story/weekly-jobless-claims-fall-21000-to-434000-2010-10-28-844130
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GDP rises 2% in third quarter on consumer spending
Spending growth of 2.6% is fastest since fourth quarter of 2006
http://www.marketwatch.com/story/q3-gdp-up-2-on-consumer-spending-2010-10-29
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