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Read the highlights of this week's commentary from Helios:
- Economic activity in the US slowed in October, with the Chicago Fed National Activity Index dropping to -0.4, its lowest level in nine months. This decline reflects weaker production, employment, and personal consumption, as 55 of the 85 indicators showed negative contributions. A reading below zero indicates below-trend economic growth and signals easing pressures on future inflation.
- New-home sales rebounded in November, increasing by 5.9% and reaching their highest level since 2007. The median new home price fell 6.3% to $402,600 as builders offered incentives, boosting affordability but squeezing profit margins. Mortgage rates, which are nearing 7% again, remain a challenge as the Federal Reserve prioritizes combating inflation and anticipates two rate cuts in 2025.
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