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  • A Third Look at GDP Growth in the Second Quarter

    The Bureau of Economic Analysis (BEA) released the third estimate of real GDP growth for the second quarter of 2016. Real GDP grew at a 1.4% seasonally adjusted annual rate, up modestly from the 1.1% previous estimate. Personal consumption expenditures were slightly weaker, investment was less negative based on less drag from the energy sector and equipment spending, government spending… Read More ›

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  • Housing Share of GDP: Housing Services Offsets Slight RFI Decline

    With the release of the final estimates of second quarter 2016 GDP growth (revised up three-tenths to a 1.4% growth rate), housing’s share of gross domestic product (GDP) held steady at 15.7%. The home building and remodeling component—residential fixed investment—as a share of GDP declined slightly to 3.5%. Housing-related activities contribute to GDP in two basic ways. The first is… Read More ›

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  • Pending Sales Decline

    The Pending Home Sales Index decreased 2.4% in August, declining for the third time in four months, and falling 0.2% below its level for the same month a year ago. The Pending Home Sales Index (PHSI), a forward-looking indicator based on signed contracts reported by the National Association of Realtors (NAR), decreased to 108.5 in August from a downwardly revised… Read More ›

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