Housing affordability, mortgage rates and a number of economic factors helped drive home sales to their lowest level in 5 years in July 2022 according to the Census Bureau.
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In July, American manufacturers and employers faced wholesale price inflation that continues to be among the highest in the world. This problem which has been persistent since early 2021 may last for the next 18 months or longer according to forecasts.
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New York Federal Reserve Bank identifies that national economic activity has continued to recede in line with the first quarter of this year through at least the third week of July. The more complete data on second quarter GDP will be released July 28.
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S & P Global finds that manufacturing activity contracted shortly during the period of July 6 - 21 across the economy as small improvements in orders and other areas were not enough to compensate for the roughly 10% drop in the manufacturing index spurred by contractions in service and factory activity.
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As Demand Drives Down The Price Of Oil In Global Markets, Sources Find That Industry Is Tapping Little Used Wells At A Near Historic Rate.
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St. Louis Fed President James Bullard backs further interest rate increases and cites the strong new job production numbers the economy continues to post following the last two years of lockdowns despite other economic and employment figures which point to slowdowns in the face of generationally high inflation.
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US Business Activity renewed its sharp contraction in June 2022 down substantially from a multiyear peak in mid-2021. The contraction coincided with sharply higher business and other related costs according to S & P Global.
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Fed Finds Sour Manufacturing Activity Numbers in the Northeast and a Lack of Economic Optimism Amongst That Regions Manufacturers over the next 6 Months.
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