Magazine article The CPA Journal

Forté Capital's Selected Statistics

Magazine article The CPA Journal

Forté Capital's Selected Statistics

Article excerpt

Conference Board Leading Indicators

The Conference Board index of leading indicators climbed 0.4% in July, slightly above expectations. The increase was led by industrial production. Nonfarm payrolls added 255,000 jobs in July, which is higher than the average monthly addition of 175,000 jobs in the first half of the year. Job creation maintained the unemployment rate at 4.9%. This indicates that the U.S. economy's near-term expansion will be slightly more robust than initially anticipated.

Construction Spending

Construction spending dropped 0.6% in June, against expectations of a 0.5% gain, making this the third consecutive monthly drop. In private residential construction, spending on multifamily units was up 16.4% from a year earlier, compared to 4.8% for single-family units. The low rental vacancy rates and a shift to renting over buying support the strength in the multifamily category. …

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