National residential new home sales; October 2020

FOR RELEASE AT 10:00 AM EST, WEDNESDAY, NOVEMBER 25, 2020
MONTHLY NEW RESIDENTIAL SALES, OCTOBER 2020
Release Number: CB20-177
November 25, 2020 – The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly
announced the following new residential sales statistics for October 2020:
NEW RESIDENTIAL
SALES
OCTOBER 2020
New Houses Sold1: 999,000
New Houses For Sale2: 278,000
Median Sales Price: $330,600
Next Release: December 23, 2020
1Seasonally Adjusted Annual Rates
2Seasonally Adjusted
Source: U.S. Census Bureau, HUD, November 25, 2020
New Home Sales
Sales of new single-family houses in October 2020 were at a seasonally adjusted annual rate of 999,000, according
to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban
Development. This is 0.3 percent (±13.6 percent)* below the revised September rate of 1,002,000, but is 41.5
percent (±22.6 percent) above the October 2019 estimate of 706,000.
Sales Price
The median sales price of new houses sold in October 2020 was $330,600. The average sales price was $386,200.
For Sale Inventory and Months’ Supply
The seasonally-adjusted estimate of new houses for sale at the end of October was 278,000. This represents a
supply of 3.3 months at the current sales rate.
The November report is scheduled for release on December 23, 2020. View the full schedule in the Economic
Briefing Room: www.census.gov/economic-indicators/. The full text and tables for this release can be found at
www.census.gov/construction/nrs/.

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Conference Board Consumer Confidence Index; November, 2020

The Conference Board Consumer Confidence Index® Decreased in November

Note: The upcoming December Consumer Confidence Index® release date has been changed, moving from December 29th at 10 AM ET to December 22nd at 10 AM ET.

New York, November 24, 2020…The Conference Board Consumer Confidence Index® declined in November, after remaining relatively flat in October. The Index now stands at 96.1 (1985=100), down from 101.4 (an upward revision) in October. The Present Situation Index – based on consumers’ assessment of current business and labor market conditions – decreased slightly from 106.2 to 105.9. The Expectations Index – based on consumers’ short-term outlook for income, business, and labor market conditions – declined from 98.2 in October to 89.5 this month.

The monthly Consumer Confidence Survey®, based on a probability-design random sample, is conducted for The Conference Board by Nielsen, a leading global provider of information and analytics around what consumers buy and watch. The cutoff date for the preliminary results was November 13.

“Consumer confidence declined in November, after remaining virtually flat in October,” said Lynn Franco, Senior Director of Economic Indicators at The Conference Board. “Consumers’ assessment of present-day conditions held steady, though consumers noted a moderation in business conditions, suggesting growth has slowed in Q4. Heading into 2021, consumers do not foresee the economy, nor the labor market, gaining strength. In addition, the resurgence of COVID-19 is further increasing uncertainty and exacerbating concerns about the outlook.”

Consumers’ appraisal of current conditions was relatively unchanged in November. The percentage of consumers claiming business conditions are “good” declined from 18.6 percent to 17.6 percent, but those claiming business conditions are “bad” also decreased, from 34.4 percent to 33.5 percent. Consumers’ assessment of the labor market was unchanged. The percentage of consumers saying jobs are “plentiful” held steady at 26.7 percent, while those claiming jobs are “hard to get” was virtually unchanged at 19.5 percent.

Consumers, however, have grown less optimistic about the short-term outlook. The percentage of consumers expecting business conditions will improve over the next six months decreased from 36.0 percent to 27.4 percent, while those expecting business conditions will worsen increased from 15.9 percent to 19.8 percent. Consumers’ optimism regarding the job market also weakened. The proportion expecting more jobs in the months ahead declined from 32.0 percent to 25.9 percent, while those anticipating fewer jobs increased moderately from 19.8 percent to 20.5 percent. Regarding their short-term income prospects, the percentage of consumers expecting an increase was virtually unchanged at 17.6 percent, while the proportion expecting a decrease declined from 14.2 percent to 13.3 percent.

Source: November 2020 Consumer Confidence Survey®

The Conference Board / Release #7072

The Conference Board publishes the Consumer Confidence Index® at 10 a.m. ET on the last Tuesday of every month. Subscription information and the technical notes to this series are available on The Conference Board website: https://www.conference-board.org/data/consumerdata.cfm.

About The Conference Board

The Conference Board is the member-driven think tank that delivers trusted insights for what’s ahead. Founded in 1916, we are a non-partisan, not-for-profit entity holding 501 (c) (3) tax-exempt status in the United States. www.conference-board.org.

About NIELSEN

Nielsen Holdings plc (NYSE: NLSN) is a global performance management company that provides a comprehensive understanding of what consumers watch and buy. Nielsen’s Watch segment provides media and advertising clients with Total Audience measurement services for all devices on which content — video, audio and text — is consumed. The Buy segment offers consumer packaged goods manufacturers and retailers the industry’s only global view of retail performance measurement. By integrating information from its Watch and Buy segments and other data sources, Nielsen also provides its clients with analytics that help improve performance. Nielsen, an S&P 500 company, has operations in over 100 countries, covering more than 90 percent of the world’s population. For more information, visit www.nielsen.com.  

Further information:                                                                                                                                                                   

Joseph DiBlasi

joseph.diblasi@tcb.org

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Conference Board Employment Trends Index; September 2020

The Conference Board Employment Trends Index™ (ETI) Increased in September

Job Growth to Continue, But at a Slower Pace

NEW YORK, October 5, 2020…The Conference Board Employment Trends Index™ (ETI) increased in September, following increases in May, June, July, and August. The index now stands at 54.80, up from 53.30 (an upward revision) in August.

“The Employment Trends Index increased again in September, but over the last two months its gains have been more modest, indicating that job growth may be slowing down,” said Gad Levanon, Head of The Conference Board Labor Markets Institute. “The labor market has rebounded better than expected, but with the virus still proliferating, it will not be able to return to its full capacity any time soon. Many companies are restructuring their organizations and layoff rates are high. Despite the US economy growing more slowly, it may still be able to generate a million new jobs by year’s end.”

September’s increase was fueled by positive contributions from all eight components. From the largest positive contributor to the smallest, the components were: the Ratio of Involuntarily Part-time to All Part-time Workers; Initial Claims for Unemployment Insurance; the Percentage of Respondents Who Say They Find “Jobs Hard to Get”; Real Manufacturing and Trade Sales; the Percentage of Firms With Positions Not Able to Fill Right Now; Job Openings; the Number of Employees Hired by the Temporary-Help Industry; and Industrial Production.

The Employment Trends Index aggregates eight labor market indicators, each of which has proven accurate in its own area. Aggregating individual indicators into a composite index filters out “noise” to show underlying trends more clearly.

The eight labor market indicators aggregated into the Employment Trends Index include:

*Statistical imputation for the recent month

**Statistical imputation for two most recent months

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Conference Board Consumer Confidence Index; September 2020

The Conference Board Consumer Confidence Index Increased in September

New York, September 29, 2020…The Conference Board Consumer Confidence Index® increased in September, after declining in August. The Index now stands at 101.8 (1985=100), up from 86.3 in August. The Present Situation Index – based on consumers’ assessment of current business and labor market conditions – increased from 85.8 to 98.5. The Expectations Index – based on consumers’ short-term outlook for income, business, and labor market conditions – increased from 86.6 in August to 104.0 this month.

The monthly Consumer Confidence Survey®, based on a probability-design random sample, is conducted for The Conference Board by Nielsen, a leading global provider of information and analytics around what consumers buy and watch. The cutoff date for the preliminary results was September 18.

“Consumer Confidence increased sharply in September, after back-to-back monthly declines, but remains below pre-pandemic levels,” said Lynn Franco, Senior Director of Economic Indicators at The Conference Board. “A more favorable view of current business and labor market conditions, coupled with renewed optimism about the short-term outlook, helped spur this month’s rebound in confidence. Consumers also expressed greater optimism about their short-term financial prospects, which may help keep spending from slowing further in the months ahead.”

Consumers’ appraisal of current conditions rebounded in September. The percentage of consumers claiming business conditions are “good” increased from 16.0 percent to 18.3 percent, while those claiming business conditions are “bad” decreased from 43.3 percent to 37.4 percent. Consumers’ assessment of the labor market also improved. The percentage of consumers saying jobs are “plentiful” increased from 21.4 percent to 22.9 percent, while those claiming jobs are “hard to get” decreased from 23.6 percent to 20.0 percent.

Consumers were also more optimistic about the short-term outlook. The percentage of consumers expecting business conditions will improve over the next six months increased from 29.8 percent to 37.1 percent, while those expecting business conditions will worsen decreased from 20.7 percent to 15.8 percent. Consumers were more positive about the outlook for the labor market. The proportion expecting more jobs in the months ahead increased from 29.9 percent to 33.1 percent, while those anticipating fewer jobs decreased from 21.2 percent to 15.6 percent. Regarding their short-term income prospects, the percentage of consumers expecting an increase improved from 13.0 percent to 17.5 percent, while the proportion expecting a decrease declined from 16.0 percent to 12.6 percent.

Source: September 2020 Consumer Confidence Survey®
The Conference Board / Release #7046

The Conference Board publishes the Consumer Confidence Index® at 10 a.m. ET on the last Tuesday of every month. Subscription information and the technical notes to this series are available on The Conference Board website: https://www.conference-board.org/data/consumerdata.cfm.

About The Conference Board
The Conference Board is the member-driven think tank that delivers trusted insights for what’s ahead. Founded in 1916, we are a non-partisan, not-for-profit entity holding 501 (c) (3) tax-exempt status in the United States. http://www.conference-board.org.

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National residential sales for August, 2020

Click to access newressales.pdf

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Conference Board Leading Economic Index; August 2020

The Conference Board Leading Economic Index® (LEI) for the U.S. Increased in August

Slowing pace of improvement points to weakening growth in final months of 2020

NEW YORK, September 18, 2020…The Conference Board Leading Economic Index® (LEI) for the U.S. increased 1.2 percent in August to 106.5 (2016 = 100), following a 2.0 percent increase in July and a 3.1 percent increase in June.

“While the US LEI increased again in August, the slowing pace of improvement suggests that this summer’s economic rebound may be losing steam heading into the final stretch of 2020,” said Ataman Ozyildirim, Senior Director of Economic Research at The Conference Board. “Despite the improvement, the LEI remains in recession territory, still 4.7 percent below its February level. Weakening in new orders for capital goods, residential construction, consumers’ outlook, and financial conditions point to increasing downside risks to the economic recovery. Looking ahead to 2021, the LEI suggests that the US economy will start the new year under substantially weakened economic conditions.”

The Conference Board Coincident Economic Index® (CEI) for the U.S. increased 0.6 percent in August to 100.8 (2016 = 100), following a 1.2 percent increase in July and a 3.9 percent increase in June.

The Conference Board Lagging Economic Index® (LAG) for the U.S. decreased 0.6 percent in August to 107.6 (2016 = 100), following a 0.6 percent decrease in July and a 3.5 percent decrease in June.

About The Conference Board Leading Economic Index® (LEI) for the U.S.
The composite economic indexes are the key elements in an analytic system designed to signal peaks and troughs in the business cycle. The leading, coincident, and lagging economic indexes are essentially composite averages of several individual leading, coincident, or lagging indicators. They are constructed to summarize and reveal common turning point patterns in economic data in a clearer and more convincing manner than any individual component – primarily because they smooth out some of the volatility of individual components.

The ten components of The Conference Board Leading Economic Index® for the U.S. include:

Average weekly hours, manufacturing
Average weekly initial claims for unemployment insurance
Manufacturers’ new orders, consumer goods and materials
ISM® Index of New Orders
Manufacturers’ new orders, nondefense capital goods excluding aircraft orders
Building permits, new private housing units
Stock prices, 500 common stocks
Leading Credit Index™
Interest rate spread, 10-year Treasury bonds less federal funds
Average consumer expectations for business conditions

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National new home permits and starts metrics; August 2020

Click to access newresconst.pdf

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Conference Board Employment Trends Index; August 2020

The Conference Board Employment Trends Index™ (ETI) Increased in August

Job Growth Retains Upward Momentum

NEW YORK, September 8, 2020…The Conference Board Employment Trends Index™ (ETI) increased in August, following increases in May, June, and July. The index now stands at 52.55, up from 51.37 (an upward revision) in July. However, the index is down from 109.8 a year ago.

“Despite the rise in new COVID-19 cases at the beginning of the summer, job growth continues to gain momentum: the Employment Trends Index increased for the fourth consecutive month,” said Gad Levanon, Head of The Conference Board Labor Markets Institute. “Over the coming months, job growth will persist as industries impacted by social distancing such as travel, hotels, restaurants, and personal care will continue to recover. However, another wave of infections this fall would limit the expansion of the US labor market.”

August’s increase was fueled by positive contributions from six of the eight components. From the largest positive contributor to the smallest, the components were: Initial Claims for Unemployment Insurance; the Number of Employees Hired by the Temporary-Help Industry; the Ratio of Involuntarily Part-time to All Part-time Workers; Percentage of Firms With Positions Not Able to Fill Right Now; Job Openings; and Industrial Production.

The Employment Trends Index aggregates eight labor market indicators, each of which has proven accurate in its own area. Aggregating individual indicators into a composite index filters out “noise” to show underlying trends more clearly.

The eight labor market indicators aggregated into the Employment Trends Index include:
 Percentage of Respondents Who Say They Find “Jobs Hard to Get” (The Conference Board Consumer Confidence Survey®)
 Initial Claims for Unemployment Insurance (U.S. Department of Labor)
 Percentage of Firms With Positions Not Able to Fill Right Now (© National Federation of Independent Business Research Foundation)
 Number of Employees Hired by the Temporary-Help Industry (U.S. Bureau of Labor Statistics)
 Ratio of Involuntarily Part-time to All Part-time Workers (BLS)
 Job Openings (BLS)**
 Industrial Production (Federal Reserve Board)*
 Real Manufacturing and Trade Sales (U.S. Bureau of Economic Analysis)**
*Statistical imputation for the recent month
**Statistical imputation for two most recent months

Please note that on September 3, 2020, the Department of Labor (DOL) changed the way it calculates seasonal adjustment factors for national initial claims and continued claims data. The revised seasonal factors are calculated as additive factors as opposed to multiplicative factors. See details: https://www.dol.gov/sites/dolgov/files/OPA/newsreleases/ui-claims/20201671.pdf. Starting this September the Bureau of Labor Statistics’ staff, who provide the seasonal adjustment factors, specified these series as additive.

The Conference Board is currently using official data published by DOL as an input to calculate the Employment Trends Index (ETI) – namely, the initial unemployment claims series. The impact on the ETI from the differences in the historical values of the initial claims component of the ETI under the alternative seasonal adjustment methodologies were minimal. Seasonal adjustment models and factors will be reviewed at the beginning of next calendar year, when prior years of ETI data undergo an annual benchmark revision. If changes for the input data are needed, they will be reviewed and implemented.

The Conference Board publishes the Employment Trends Index monthly, at 10 a.m. ET, on the Monday that follows each Friday release of the Bureau of Labor Statistics Employment Situation report. The technical notes to this series are available on The Conference Board website: http://www.conference-board.org/data/eti.cfm.

About The Conference Board
The Conference Board is the member-driven think tank that delivers trusted insights for what’s ahead. Founded in 1916, we are a non-partisan, not-for-profit entity holding 501 (c) (3) tax-exempt status in the United States. http://www.conference-board.org.

Media Contact
Joseph DiBlasi
joseph.diblasi@conference-board.org

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Conference Board Consumer Confidence Index; August 2020

The Conference Board Consumer Confidence Index Decreased in August

New York, August 25, 2020…The Conference Board Consumer Confidence Index® decreased in August, after declining in July. The Index now stands at 84.8 (1985=100), down from 91.7 in July. The Present Situation Index – based on consumers’ assessment of current business and labor market conditions – decreased sharply from 95.9 to 84.2. The Expectations Index – based on consumers’ short-term outlook for income, business, and labor market conditions – declined from 88.9 in July to 85.2 this month.

The monthly Consumer Confidence Survey®, based on a probability-design random sample, is conducted for The Conference Board by Nielsen, a leading global provider of information and analytics around what consumers buy and watch. The cutoff date for the preliminary results was August 14.

“Consumer Confidence declined in August for the second consecutive month,” said Lynn Franco, Senior Director of Economic Indicators at The Conference Board. “The Present Situation Index decreased sharply, with consumers stating that both business and employment conditions had deteriorated over the past month. Consumers’ optimism about the short-term outlook, and their financial prospects, also declined and continues on a downward path. Consumer spending has rebounded in recent months but increasing concerns amongst consumers about the economic outlook and their financial well-being will likely cause spending to cool in the months ahead.”

Consumers’ assessment of present-day conditions receded in August. The percentage of consumers claiming business conditions are “good” declined from 17.5 percent to 16.4 percent, while those claiming business conditions are “bad” increased from 38.9 percent to 43.6 percent. Consumers’ appraisal of the job market was also less favorable. The percentage of consumers saying jobs are “plentiful” declined from 22.3 percent to 21.5 percent, while those claiming jobs are “hard to get” increased from 20.1 percent to 25.2 percent.

Consumers were also more pessimistic about the short-term outlook. The percentage of consumers expecting business conditions will improve over the next six months declined from 31.6 percent to 29.9 percent, while those expecting business conditions will worsen increased slightly from 20.2 percent to 20.5 percent. Consumers’ outlook for the labor market was also less positive. The proportion expecting more jobs in the months ahead declined from 29.6 percent to 29.1 percent, while those anticipating fewer jobs increased from 21.3 percent to 21.9 percent. Regarding their short-term income prospects, the percentage of consumers expecting an increase declined from 14.8 percent to 12.7 percent, while the proportion expecting a decrease rose from 15.8 percent to 16.6 percent.

Source: August 2020 Consumer Confidence Survey®
The Conference Board / Release #7026

The Conference Board publishes the Consumer Confidence Index® at 10 a.m. ET on the last Tuesday of every month. Subscription information and the technical notes to this series are available on The Conference Board website: https://www.conference-board.org/data/consumerdata.cfm.

About The Conference Board
The Conference Board is the member-driven think tank that delivers trusted insights for what’s ahead. Founded in 1916, we are a non-partisan, not-for-profit entity holding 501 (c) (3) tax-exempt status in the United States. http://www.conference-board.org.

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National new home sales metrics; July 2020

Click to access newressales.pdf

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