{"id":188431,"date":"2010-09-28T19:24:00","date_gmt":"2010-09-29T00:24:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2010\/09\/28\/economics-update-29\/"},"modified":"2010-09-28T19:24:00","modified_gmt":"2010-09-29T00:24:00","slug":"economics-update-29","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2010\/09\/28\/economics-update-29\/","title":{"rendered":"Economics Update"},"content":{"rendered":"

I guess that the lede here is consumer confidence, which The Conference Board reports has fallen to a 7 month low<\/a>. My personal guess is that the number is low because of the news reports that the recession has been over for over a year<\/a>, which is so clearly contrary to what consumers see that it depresses them.<\/p>\n

On the other hand, manufacturing jobs are reported to be growing strongly since the beginning of the year<\/a>, which is a bit of a surprise.<\/p>\n

In real estate, and, as Calculated Risk notes<\/a>, the Case-Shiller numbers are out, and they are positively schizophrenic:<\/p>\n

From the Financial Times: US home prices slip in July<\/a><\/p>\n

From the WSJ: Home Prices Rose in July<\/a><\/p>\n

From CNBC: US Home Prices Slipped In July And May Stabilize Near Lows<\/a><\/p>\n

From MarketWatch: Home price growth slows in July<\/a><\/p>\n

From HousingWire: S&P\/Case-Shiller 20-city composite index rose 0.6% for July
<\/a><\/p><\/blockquote>\n

Basically, some of them are reporting seasonally adjusted numbers, and some are reporting non-seasonally adjusted numbers. I would tend to go with the latter with July, since I think that the expiration of the tax credits probably overwhelmed any seasonal effects, and the composite 10 and the composite 20 numbers are a bit different, but basically it’s flat near the recent bottoms.<\/p>\n

Finally, we have the various reports from the regional Federal reserve banks: Dallas, up slightly<\/a> in September, Chicago down slightly<\/a> in August, and Richmond down slightly<\/a> in September.<\/p>\n","protected":false},"excerpt":{"rendered":"

I guess that the lede here is consumer confidence, which The Conference Board reports has fallen to a 7 month low. My personal guess is that the number is low because of the news reports that the recession has been over for over a year, which is so clearly contrary to what consumers see that …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[973,975,1088,1089],"tags":[],"class_list":["post-188431","post","type-post","status-publish","format-standard","hentry","category-economy","category-employment","category-real-estate","category-recession"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/188431"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=188431"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/188431\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=188431"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=188431"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=188431"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}