Tim Iacono's Blog

Founder
tim [at] iaconoresearch [dot] com ()

Tim Iacono is the founder of Iacono Research which provides market commentary and investment advisory services specializing in macroeconomic analysis and commodity based investing. He also writes the popular blog The Mess That Greenspan Made.

Retail Sales Flat in July, Autos Sales Decline

The Commerce Department reported that retail sales were unchanged in July following a modest 0.2 percent gain in June and, for the second month in a row, auto sales declined.

Economy Expands at 4.0% Annual Rate in Q2

The Commerce Department reported that the U.S. economy expanded at a rate of 4.0 percent in the second quarter, well above the consensus estimate of 3.0 percent, and the contraction during the first quarter was revised up from a -2.9 percent rate to -2.1 percent.

U.S. Home Price Gains Slow … or Reverse

Standard & Poor’s reported(.pdf) that U.S. home price gains have slowed dramatically in recent months and, on a seasonally adjusted basis, home prices have now declined for the first time in two-and-a-half years as shown below.

ISM Steady, New Orders Up, Stocks Soar

The Institute for Supply Management reported that the U.S. manufacturing sector continued to expand at a healthy pace last month as their purchasing managers index was little changed, down slightly from 55.4 in May to 55.3 in June.

Consumer Prices Rise, Inflation Reaches 2.1%

The Labor Department reported that annual inflation in the U.S. rose above 2 percent for the first time since late-2012 as a surge in energy prices added to broad-based inflation in other categories of consumer goods and services.

Housing Starts, Permits See Big Rebound

The U.S. housing market received some rare good news this morning as the Commerce Department reported(.pdf) that housing starts and permits for new construction both exceeded analysts’ estimates...

Consumer Prices Jump 0.3% in April

The Labor Department reported that consumer prices jumped 0.3 percent in April, due largely to the rising cost of food, motor fuel, and other transportation items as the annual rate of inflation in the U.S. now stands at 2.0 percent. Excluding food and energy, prices rose 0.2 percent last month, now up 1.8 percent from a year ago.

Payrolls Rise 288K, Jobless Rate Falls to 6.3%

The Labor Department reported that the U.S. economy created the most new jobs in over two years and the unemployment rate fell to the lowest level since late-2008, however, it is unclear how much of the improvement is due to improving fundamentals and how much was driven by a larger than expected spring bounce after a severe winter.

No Spring Rebound for Existing Home Sales

The National Association of Realtors reported that sales of existing homes fell 0.2 percent in March to a seasonally adjusted annual rate of 4.59 million units as there appears to have been no spring rebound in home sales after the severe winter weather that saw home sales slow sharply last December. Unfortunately for buyers, home prices continue to rise.

We Again See Real Estate As Best Investment

The latest Gallup survey on investment preferences in the U.S. puts real estate ahead of gold and stocks for the first time in at least a few years in yet another example of how most people (at least in the U.S.) simply follow established trends.

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