US homebuyers are increasingly paying in cash. The share of all-cash deals rose to the highest since 2013 last year, while institutional investors, who usually account for many cash sales, retreated, according to data from real estate data analytics firm Attom. That suggests more regular buyers turned to self funding to dodge punishing mortgage rates.
The Federal Reserve’s preferred inflation measures eased in December to the slowest annual paces in over a year while consumer spending fell, helping pave the way for policymakers to further scale back the pace of interest-rate hikes.
The US economy grew faster than forecast into the end of 2022, but there were signs of slowing underlying demand as the steepest interest-rate hikes in decades threaten growth this year.
Sales of previously owned US homes fell in December to the slowest pace in over a decade, capping one of the housing market’s worst years on record amid a rapid jump in mortgage rates.
US retail sales fell by the most in a year and business equipment production slumped, raising concerns that the economy is losing momentum under the weight of tighter Federal Reserve policy.
The path of US inflation in 2023 may have more surprises in store after a year in which consumers suffered the biggest cost-of-living hit in 40 years, spurring steep interest-rate hikes by the Federal Reserve and spooking investors.
US short-term inflation expectations unexpectedly declined to the lowest level in more than a year and consumer sentiment picked up, helped by falling gasoline prices.
Applications for US unemployment benefits rose last week to a three-month high amid a wave of layoffs at technology companies, a sign of cooling in a tight labor market.
A cooling in US consumer prices offered cheer to households, investors and Federal Reserve officials, but there’s still a long way before high inflation becomes history.
US long-term inflation expectations continued to ease in September, helping slightly lift consumer sentiment from the previous month despite growing economic uncertainty.
US retailers that stockpiled goods to cushion against supply-chain snarls are finding inventory reduction to be challenging and costly as American households start to pull back from a two-year spending spree.
The ocean shipping industry, among the world’s biggest polluters, is asking a key regulator to overhaul its emissions directives so that all carriers are working off the same rulebook as they make the expensive changes needed to cut output of harmful carbons.
The share of global wealth held by billionaires surged to a record during the Covid-19 crisis, according to a group founded by French economist Thomas Piketty.
Alumni of the Massachusetts Institute of Technology are the graduates best positioned to find a job as the global economy roars back and employers look to fill open positions.
U.S. single-family home rental prices jumped 7.5% in June, showing no sign of abating amid a hot housing market and construction lags.
