Weekly economic review & outlook
Looking for positivity beyond the headlines
OCT. 21, 2019
You Need to Know
Week in review
Retail sales surprise to the downside
Retail spending fell 0.3 percent in September, countering what had been an improved pace of consumer spending in recent months.
Housing starts down too for September
Starts declined entirely due to a plunge in multifamily units while single-family construction continues to trend higher.
Existing home sales up slightly in September
Existing home sales are likely to increase with low mortgage rates continuing to boost housing affordability.
New home sales also on the rise
New home sales are expected to rise as low inventory on existing homes pushes more buyers into the market for new homes.
Economic data were decidedly downbeat last week as retail sales, housing starts and industrial production for September all missed expectations. Estimates for real GDP growth in the third quarter have fallen below 2.0 percent, signaling a further waning of economic activity this year. Still, there is little sign that a recession is coming soon even as the economy downshifts a bit.