From MarketWatch: General Motors U.S. March sales rise 20.6% This is based on a very easy comparison: in March 2009 U.S. light vehicle sales fell 35% to 9.69 million (SAAR) from 14.9 million (SAAR) in March 2008. The sharp decline last year was due to the financial crisis, the recession,…
Private residential construction spending has turned down again over the last few months. I expect some growth in residential spending in 2010, but the increases will probably be sluggish until the large overhang of existing inventory is reduced. Private non-residential spending decreased in February, and is now at the lowest…
Freddie Mac’s weekly mortgage survey says … 30-year fixed-rate mortgage (FRM) averaged 5.08 percent with an average 0.7 point for the week ending April 1, 2010, up from last week when it averaged 4.99 percent. Last year at this time, the 30-year FRM averaged 4.78 percent. 15-year FRM this…
I am a big fan of three sports: basketball, baseball, and golf. The next week and a half is perhaps the most exciting period of the year for someone who is a fan of those three sports. The Masters. The men’s and women’s Final Four. The opening of the…
PMI at 59.6% in March, up from 56.5% in February. From the Institute for Supply Management: March 2010 Manufacturing ISM Report On Business® Economic activity in the manufacturing sector expanded in March for the eighth consecutive month, and the overall economy grew for the 11th consecutive month, say the nation’s…
A real estate broker is on trial for allegedly conspiring with her boyfriend and his brother to commit $17.5 million in real estate fraud by buying 35 properties using stolen identities and purposely defaulting on loans to get the money. Kathy Chen Kathy Chen, 49, Westminster, is charged with 157 felony counts,…
From David Baker at the San Francisco Chronicle: State gas usage falls for 4th straight year Driven lower by high prices and the recession, gasoline sales in California fell for the fourth year in a row during 2009, state officials reported Tuesday. … Annual gas sales in California peaked at…
Bloomberg reports on Dr. Nouriel Roubini’s remarks on comparative growth in India and China. Dr. Roubini argues that India needs to invest in human capital and innovation if it wants to match Chinese GDP growth:
Read more here – To Catch China, India Needs Human and Physical Capital, Says…
I’d like to highlight a few key points from Atlanta Fed President Dennis Lockhart’s speech today: Prospects for Sustained Recovery and Employment Gains The normal state of affairs in the country’s labor market is a dynamic mix of separations from employment and new job creation. There are two causes of…
In yet another stunning example of how much time and effort went into the Health Care debate, word comes that FEMA’s National Flood Insurance Program has expired. That means that any home closing that requires Flood Insurance is now delayed until the program is refunded. The Senate adjourned for their…