News in end use

A closer look at the nonfarm payroll employment on a state-by-state basis in October reveals that employment increased in 42 states and declined in 8 other states and DC. Nationwide nonfarm payroll increased by 261,000 jobs in October.

A closer look at the Bureau of Labor Statistics October 2022 Producer Price Index (PPI) report reveals that the price of building materials declined 0.2% in October (not seasonally adjusted), following a 0.5% decline in September.

A closer look at the Bureau of Labor Statistics October 2022 Producer Price Index (PPI) report reveals that the price of building materials declined 0.2% in October (not seasonally adjusted), following a 0.5% decline in September.

Statistics Canada reported today the prices of products manufactured in Canada, as measured by the Industrial Product Price Index (IPPI), rose 2.4% on a monthly basis in October and were 10.1% higher year-on-year.

The Conference Board released today (11-18-22) the Leading Economic Index® (LEI) for the US in October 2022. According to the report, the LEI declined 0.8% in October to a reading of 114.9 (2016=100), following a 0.5% drop in September and remaining unchanged in August.

The National Association of Realtors® reported on Friday that total existing home sales recorded a 5.9% decline in October, reaching a seasonally adjusted rate of 4.43 million homes. This is the nineth consecutive monthly decrease.

The US Census Bureau reported on Thursday that privately‐owned housing starts in October were at a seasonally adjusted annual rate of 1,425,000. This is 4.2% below the revised September estimate of 1,488,000 and 8.8% below the October 2021 rate.

The National Association of Home Builders today released the results of its Multifamily Market Survey (MMS) for 22Q3. According to the MMS, builders’ confidence in the market for new multifamily housing declined appreciably during the time period.

Freddie Mac has released its Primary Mortgage Market Survey® (PMMS) for the week ending November 17th. The PMMS reports that the 30-year fixed-rate mortgage (FRM) averaged 6.61%, down from last week when it averaged 7.08%.

Redfin, the real estate brokerage firm, reported on the Wednesday that in October the US median asking rent rose 7.8% year-over-year to $1,983. This is the smallest annual increase since August of 2021.