Economic Perspectives

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 New Blog from Jim Chessen and the Office of the Chief Economist 
ABA Chief Economist Jim Chessen and his team have launched a blog covering economic issues related to banks.  Come and share your opinion.  Visit the Banks and the Economy blog.

 Quarterly Economic Discussion Q2 2010
An overview of economic conditions related to output, employment, housing, inflation, the value of the dollar and monetary policy.

 Alan Blinder's Economic Outlook - June 2010  

 

Case-Shiller Index: Existing Home Prices Rise 1.3 Percent, Up 4.6 Percent from Year Ago
According to the twenty-city Case-Shiller Index, existing home prices rose in May by 1.3 percent on a non-seasonally adjusted basis. The ten-metro area index rose by 1.2 percent. This was the second consecutive month of price appreciation. Of the twenty metro areas, only Las Vegas saw home price declines over the month. From a year prior, the ten-city index was up 5.4 percent and the twenty-city index was up 4.6 percent. This is a new cyclical high and is the fourth consecutive month for both indices where the year-over-year change was positive.

100 = Jan 2000

May

Apr

Mar

Feb

Jan

Dec

10 City Index

 

   M/M % Change

1.2

0.7

-0.4

-0.7

-0.2

-0.1

   Y/Y % Change

5.4

4.6

3.1

1.4

-0.1

-2.4

20 City Index

 

   M/M % Change

1.3

0.9

-0.5

-0.9

-0.4

-0.2

   Y/Y % Change

4.6

3.8

2.4

0.7

-0.7

-3.1

10.07.27 (Source: Standard & Poor’s)

 

 

Conference Board Consumer Confidence Index Falls by 3.9 Points
According to the Conference Board Consumer Confidence Index, consumer confidence fell in July for a second consecutive month, declining 3.9 points to 50.4. This places the index at its lowest level since last February. The month’s decline was primarily driven by the future expectations component of the index, which fell 6.1 points. Future expectations have fallen sharply over the past two months. The current conditions component also fell, but by a lesser 0.7 point. Consumers, who had been gaining in confidence through the winter and early spring months, have now started to become more pessimistic about the future.

1985 = 100

Jul

Jun

May

Apr

Mar

Feb

Headline Index

50.4

54.3

62.7

57.7

52.3

46.4

   Present Conditions

26.1

26.8

29.8

28.2

25.2

21.7

   Future Expectations

66.6

72.7

84.6

77.4

70.4

62.9

10.07.27 (Source: Conference Board)


 

Questions? Please contact Eric Brescia for more information.