Financial News Network - Economic News

Economy's second-half comeback is now threatened by coronavirus resurgence

Economists expect to see a bounceback in the second half of 2020, but the resurging virus threatens the strength of the rebound.

Read more: https://www.cnbc.com/2020/07/01/economys-second-half-comeback-is-now-threatened-by-coronavirus-resurgence.html

Mortgage demand falls for the second straight week, signaling a potential slowdown in the housing recovery

The surge in mortgage demand from homebuyers over the past two months appears to be waning, even as mortgage rates continue to drop.

Read more: https://www.cnbc.com/2020/07/01/mortgage-demand-falls-for-second-week-suggesting-slowdown-in-housing-recovery.html

Goldman Sachs says a national mask mandate could slash infections and save economy from a 5% hit

A face mask mandate would not only cut the daily growth rate of new cases of Covid-19, but could also save the U.S. economy up to 5% in GDP.

Read more: https://www.cnbc.com/2020/06/30/goldman-sachs-says-a-national-mask-mandate-could-slash-infections-and-save-economy-from-a-5percent-hit.html

U.S. consumer confidence for June jumps more than expected

Consumer confidence rose more than expected in June as the U.S. loosened stay-at-home and quarantine restrictions, according to data released Tuesday.

Read more: https://www.cnbc.com/2020/06/30/us-consumer-confidence-june-2020.html

Home prices heated up in April, despite brief sales drop from coronavirus, S&P Case-Shiller says

Home prices strengthened in April, despite a national economic shutdown and a sharp drop in home sales due to the coronavirus.

Read more: https://www.cnbc.com/2020/06/30/coronavirus-update-home-prices-continued-to-heat-up-in-april-sp-case-shiller-says.html

Nearly half the U.S. population is without a job, showing how far the labor recovery has to go

"To get the employment-to-population ratio back to where it was at its peak in 2000 we need to create 30 million jobs," said Torsten Slok, Deutsche Bank's chief economist.

Read more: https://www.cnbc.com/2020/06/29/nearly-half-the-us-population-is-without-a-job-showing-how-far-the-labor-recovery-has-to-go.html

Powell says recovery path is 'extraordinarily uncertain' amid efforts to control virus

Read more: https://www.cnbc.com/2020/06/29/powell-says-recovery-path-is-extraordinarily-uncertain-amid-efforts-to-control-virus.html

Pending home sales spike a record 44.3% in May, as homebuyers rush back into the market

Pending home sales spiked a stunning 44.3% in May compared with April, according to the National Association of Realtors. That beat expectations of a 15% rise. Sales were still 5.1% lower compared with May 2019.

Read more: https://www.cnbc.com/2020/06/29/coronavirus-update-pending-home-sales-spike-a-record-44point3percent-in-may.html

Employment recovery may be slowing as virus cases climb

Data from staffing firms that track hourly employees show job growth may have stagnated or even declined in recent weeks.

Read more: https://www.cnbc.com/2020/06/26/the-employment-recovery-may-be-slowing-as-virus-cases-climb.html

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Economic News

Economy's second-half comeback is now threatened by coronavirus resurgence

Mortgage demand falls for the second straight week, signaling a potential slowdown in the housing recovery

Goldman Sachs says a national mask mandate could slash infections and save economy from a 5% hit

U.S. consumer confidence for June jumps more than expected

Home prices heated up in April, despite brief sales drop from coronavirus, S&P Case-Shiller says

Nearly half the U.S. population is without a job, showing how far the labor recovery has to go

Powell says recovery path is 'extraordinarily uncertain' amid efforts to control virus

Pending home sales spike a record 44.3% in May, as homebuyers rush back into the market

Employment recovery may be slowing as virus cases climb

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