| Tuesday, October 29, 2019 |
| Today's Economy
Economic Roundup: U.S. Consumers Less Cheery but Still Buying Homes Consumer confidence fell in October, but pending home sales posted a solid gain in September. Final Thoughts Ahead of Q3 U.S. GDP We look for third-quarter growth of 1.6% annualized. Europe Daily Briefing: December Elections Won't Solve Brexit A victory for the Conservatives would keep the U.K. in limbo. Major Fallen-Angel Downgrade Boosts Third-Quarter Outstandings of High-Yield Bonds A record high for the market value of common stock is not a trustworthy leading indicator of the business cycle. » VIEW MORE TODAY'S ECONOMY
Commentary
U.S. Credit Outlook: Unsecured Lending Leads Households continue to take on credit despite rising economic uncertainty. U.S. Chartbook: Much Ado About Housing Home sales slipped in September, but the broader trend remains positive. U.S. Weekly Highlights and Preview, October 28, 2019 We expect the Fed to cut rates by 25 basis points. U.S. Employment Outlook: Not Too Cool, Not Too Hot The deceleration in job growth is likely to persist into next year. » VIEW MORE COMMENTARY
Today's Economic Indicators
Spain
Retail Sales
Sep. 2019: 0.1%
Spain’s retail sales continued to rise for a fourth consecutive month in September, increasing 0.1% in seasonally adjusted terms. United States
Bankruptcy Filings
2019Q3: 1.6%
Personal bankruptcy filings fell on a quarterly basis in the third quarter, following their normal seasonal pattern, but the decrease was slightly smaller than last year despite the strong labor market's support to household finances. United States
Industry GDP
2019Q2: 1.64 ppt, SAAR
The U.S. economy slowed in the second quarter and fewer industries contributed positively to GDP growth. United States
S&P CoreLogic Case-Shiller® Home Price Indexes
Aug. 2019: 2.0%
House price appreciation held relatively steady in August, with year-ago growth in the 20-city composite index staying flat at 2% compared with the prior month. United States
Pending Home Sales
Sep. 2019: 108.7
The pending home sales index rose 1.5% to 108.7 in September on a seasonally adjusted basis, fully recouping its July losses and clocking in its highest level since the start of 2019. United States
Moody’s Analytics Policy Uncertainty Index
October 25:
United States
Housing Vacancies & Homeownership
2019Q3: 64.8%
The homeownership rate increased in the third quarter of 2019, resuming the upward drift that begin in 2016. United States
Conference Board Consumer Confidence
Oct. 2019: 125.9
The Conference Board’s consumer confidence index fell short of both our and consensus expectations in October. Japan
Retail Sales
Sep. 2019:
Australia
Consumer Price Index
2019Q3:
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