The Producer Price Index (PPI) for final demand, seasonally adjusted, increased 0.5% in September.
News in end use
US Consumer Credit Outstanding Shrinks Month-Over-Month but Rises Year-Over Year in August
Consumer credit outstanding reached $4.97 trillion (SAAR) in August, a monthly decrease of $15.6 billion, according the Federal Reserve and NAHB.
Mortgage Credit Availability Increases for Second Consecutive Month in September
The Mortgage Bankers Association’s Mortgage Credit Availability Index increased 0.6% to a reading of 97.2 in September.
NFIB Small Business Optimism Index Declines in September, Remaining Below 49-Year Average
The NFIB Small Business Optimism Index (SBOI) declined 0.5 points to a reading of 90.8 in September.
Fannie Mae’s Home Purchase Sentiment Index® Declines in September as Mortgage Rates Climb
In September, the Fannie Mae Home Purchase Sentiment Index® declined by 2.4 points to a reading of 64.5 as elevated mortgage rates continued to dampen already gloomy consumer housing sentiment.
US Asking Rents Little Changed Year-Over-Year but Down 2% Month-Over-Month in September
Redfin reported that the US median asking rent rose 0.4% year-over-year in September to $2,011. This marks the sixth consecutive month in which rents were little changed from a year earlier.
Construction Sector Gains 11,000 Jobs in September
Employment in the construction sector increased by 11,000 positions in September, according to NAHB analysis of Census Bureau data.
US Nonfarm Payroll Increases by 336,000 in September; Unemployment Unchanged at 3.8%
Total nonfarm payroll employment increased by 336,000 in September. The unemployment rate held steady at 3.8%.
Canadian Employment Increases by 64,000 in September; Unemployment Steady at 5.5%
In September, Canadian employment rose by 64,000, or 0.3%. This follows an increase of 40,000, or 0.2%, in August.
Housing Starts Flat in Canada’s 6 Major Markets During the First Six Months of 2023
During the first 6 months of 2023, housing supply in Canada’s biggest cities grew by only 1% year-over-year, according to the Canada Mortgage and Housing Corporation.