Robert Hughes

New Single-Family Home Sales Jump but Prices Sink

“New-home sales rose in December, but prices plunged, and months’ supply remains relatively high. Rising prices, higher mortgage rates, and continued inventory build may continue to weigh on price increases.” ~ Robert Hughes

Consumer Confidence Softened in January

“Consumer expectations weakened in January, pulling down overall consumer confidence. Continued expansion remains the likely course, but weaker consumer attitudes could become a headwind.” ~ Robert Hughes

Manufacturing Output Fell Slightly in December

“Industrial output fell in December, but many industries are producing more now than prior to the pandemic. Still, it may take some time for materials shortages and logistical problems to be fully resolved.” ~ Robert Hughes

Retail Spending Fell Sharply in December

“Retail sales fell in December but remain at a high level, sustaining pressure on prices. However, there may be early signs of easing pressures as sales growth moderates and inventories rise.” ~ Robert Hughes