U.S. Outlook: The consumer is solid; what about housing?

Posted By Scott Anderson In Economic Outlook | No Comments

The incoming economic data continues to justify our sanguine outlook for the U.S. economy in 2014.

consumer_graph [1]Below is a brief summary of my weekly analysis, followed by a link to the full U.S. Outlook report, delivered on Jan. 17, 2014.

Key observations:
  • December retail sales were up 3.8% over last year, setting the stage for consumers as economic linchpin of 2014.
  • While mortgage refi applications are down well below last year levels, new mortgages are only 9% below year-ago levels.
  • Homebuilder confidence remains very high in the West, hitting a new cyclical high in January.
  • Bad weather may be a culprit in the December dip in housing starts, partially offsetting the strong gains of November.
  • Our outlook for solid U.S. housing market gains in 2014 remains intact.

Click here to read my full report. [2]


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URL to article: https://changematters.bankofthewest.com/2014/01/18/the-consumer-is-solid-what-about-housing/

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[1] Image: http://blog.bankofthewest.com/wp-content/uploads/2014/01/consumer_graph.jpg

[2] Click here to read my full report.: http://gowe.st/1dvEcCL

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