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As housing market rebounds, a struggle to afford materials
In the past twelve months Juan Carlos Ramos has seen his small home building/remodeling firm in Matawan, New Jersey, growing to levels he hadn’t experienced in years. His clientele is getting bigger and often lately he founds himself having difficulty in keeping up with the increased workload. Yet Mr. Ramos doesn’t even think of hiring …
Key Objectives in U.S. – EU Trade Deal
When Michael Newburg, owner of a small Connecticut-based company selling imported Provencal linens, decided to move production of his tablecloths from France to the U.S. he was surprised to find that his import duties went up. “I couldn’t understand it,” said Mr. Newburg. “The cost of bringing the raw material home was more than bringing …
Manufacturing ‘Renaissance’ Absent from Data
There are signs that the manufacturing sector is bouncing back in Rockford, Illinois, a former industrial powerhouse about 90 miles northwest of Chicago that was hit hard by factory closings and layoffs during the economic downturn. The nearby Chrysler plant, which reduced staff to about 200 and briefly shutdown before bailout funds arrived in early …
Growth at service sector expected to slow
A weakening service sector suffering from slow growth will be reflected in ISM’s April non-manufacturing report that is scheduled to be released Friday. Economists expect the survey’s composite index to decline to 54, from 54.4 in March, which will be its lowest reading in eight months. Nevertheless, readings above 50 indicate expansion in the industries …
Auto sales expected to be modestly strong
Automakers are expected to post modest sales increases for new automobiles for the month of April, continuing a trend of moderate growth since the year began. Economists estimate that sales this year will exceed 15 million vehicles, surpassing the 15 million units sold in 2012 and the 13 million sold in 2011, according to data …
Case-Shiller report is expected to confirm gains in home prices
Home prices are expected to go up in February, continuing the upward trend. Economists estimated that the Case-Shiller City-20 composite, to be released by S&P Dow Jones Indices on Tuesday, would grow by 9 percent for the year ending in February 2013, showing the biggest gain in prices since summer 2006. Gradual improvement in …
Personal Income Grows Modestly in March; Consumer Spending Flat
Don’t look at the personal income report that comes out Monday if you hope to find good news. Personal income probably increased modestly in March, economists surveyed by Bloomberg estimate, and consumer spending remained flat. The economists expect personal income to increase 0.4 percent in March, down from a 1.1 percent increase a month before. …
Durable Goods Report Expected to be Weak
New orders for durable goods likely slowed in March, as a drop off in aircraft purchases was expected to drive down the key measure of manufacturing activity. Economists surveyed by Bloomberg expected orders for durable goods to fall 3 percent on average, a sharp departure from February, when orders spiked 5.7 percent and reached the …
Sales of Existing Homes Expected to Rise in March
Existing home sales are expected to increase modestly in March, with investors driving the gain as they continue to take advantage of low interest rates. The median estimate of existing home sales by economists surveyed by Bloomberg was a seasonally adjusted 5.01 million, up slightly from 4.98 million a month ago. The last time sales …
