Weekly economic review & outlook
Still difficult to find a home for sale
OCT. 28, 2019
You Need to Know
Week in review
Home sales drop for September
While the trend in sales activity remains upward this year, both new and existing home sales dipped in September.
Improved signals from manufacturing
The IHS Markit manufacturing flash index moved higher for October and could signal that the sector has bottomed out for now.
The Fed is expected to ease monetary policy again
The Fed is expected to cut the federal funds rate by 25 basis point in an attempt to reduce risks to domestic growth from the ongoing trade war and slower global growth.
Employment growth temporarily down
Trend job gains are slipping, but the big drop for October should come from the impacts of the UAW strike against GM.
Housing activity dipped in September with both existing and new home sales falling slightly from August. Still, the trend in home demand remains upward in response to lower mortgage rates, positive demographics, and a solid (if slowing) job market. Housing should continue to be a positive for the economy, helping offset some of the weakness in the business sector.