November construction spending confirms building surge One of my consistent themes in the past few months has been how the housing market is priming the economy for strong growth in 2021 as soon as the pandemic is brought under control. In that vein, November construction spending surged, confirming what we have already been seeing in housing […]
Coronavirus dashboard for January 6, 2021: new infections vastly outpacing vaccinations Total confirmed COVID-19 infections: 21,046,195* Infections last 7 days average: 219,253 Total deaths: 357,258 Deaths last 7 days average: 2,670 Total vaccinations: 4,836,489 *A study just released, based on random blood samples, suggests that as many as 50,000,000 Americans may have already been infected. […]
November construction spending confirms building surge One of my consistent themes in the past few months has been how the housing market is priming the economy for strong growth in 2021 as soon as the pandemic is brought under control. In that vein, November construction spending surged, confirming what we have already been seeing in housing […]
Weekly Indicators for December 28 – January 1 at Seeking Alpha – by New Deal democrat My Weekly Indicators post is up at Seeking Alpha. In a sparse data environment, it continues to stand out how surprisingly well – under the circumstances – the economy is doing, and how primed it is to really take off once […]
Final jobless claims of 2020 continue to show a lack of progress New jobless claims declined for the second week in a row this week, but are still significantly above their recent pandemic lows, while continuing claims, seasonally adjusted, once again made a new pandemic low. There is a sizable but by no means certain […]
Coronavirus dashboard for December 29: a final look back at the pandemic disaster in 2020 US confirmed cases: 19,132,726*Average cases last 7 days: 184,005Total US deaths: 333,118Average deaths last 7 days: 2,207 Total vaccinated: 2,127,143 (per CDC via Bloomberg) *Because many asymptomatic people probably never get tests, actual cases are probably more like 26 million, […]
The Four big coincident indicators as of the end of 2020 All of the important economic data for 2020 has already been released. In this final week only November house prices and one last week of jobless claims remain. So this is a good time to take a look at the current state of the […]
Jobless claims continue to show a sideways to an upward trend New jobless claims declined this week, but are still significantly above their recent pandemic lows, while continuing claims, seasonally adjusted, made a new pandemic low. The downward trend in claims has clearly ended for now, although whether the current trend is sideways or upward […]
Decline in personal income and spending adds to evidence of reversal of economic rebound This morning’s release of personal income and spending for November adds to the evidence that the economic recovery from the onset of the pandemic has stalled, and potentially reversed. Real personal income declined -1.3% in November, the first decline since April. […]
The 2004-2020 political red/blue shift: the intersection of geography, the economy, and ethnic migration It’s a very slow, holiday-shortened economic week. We’ll get new home sales, plus personal income and spending Wednesday, and jobless claims as usual Thursday. In the meantime, here is something I found revealing. It’s a map, created by Nathan Jordan, a college […]