2/8: MetroIntelligence Economic Update by P. DUFFY

December CoreLogic HPI shows home prices up 0.5 percent and 6.6 percent year-on-year

Corelogic:  Home prices nationally increased 0.5 percent in November and 6.6 percent year-on-year. CoreLogic HPI Forecast indicates that home prices will increase by 4.3 percent on a year-over-year basis from December 2017 to December 2018.

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Job openings fell 2.8 percent in December as both hires and separations little changed

The number of job openings fell by 2.8 percent to 5.8 million on the last business day of December. Over the month, hires were flat at 5.5 million and separations rose 0.5 percent to 5.2 million.

READ MOREhttps://www.bls.gov/news.release/jolts.nr0.htm

 

U.S. trade deficit up 3.3 percent in November and 11.6 percent YTD thru November

The goods and services deficit was $50.5 billion in November, up 3.3 percent from October. Year-to-date, the goods and services deficit increased $53.4 billion, or 11.6 percent, from the same period in 2016.

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January Non-Manufacturing Index rose 3.9 points to 59.9

The January NMI® registered 59.9 percent, which is 3.9 percentage points higher than the seasonally adjusted December reading of 56 percent. Overall, the majority of respondents’ comments are positive about business conditions and the economy. They also indicated that recent tax changes have had a positive impact on their respective businesses.

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