Housing starts and permits continued to slide in October but completions rose from a year ago in October. The housing starts have been declining since April when mortgage rates started to climb.
Retail sales rose in October driven by higher gasoline and auto dealers sales but department stores and electronics and appliances sales continued to decline in the month and the year.
Consumer prices rose at a slower pace in October after goods prices increase eased and apparel and used vehicle price indexes dropped. Medical and transportation services indexes declined as well.
Weekly jobless claims increased but the report is likely to understate the count as several states including Florida and New Jersey have still not fixed access to broken filing systems for months.
The U.S. economy continues to add jobs at a robust pace and nonfarm payrolls expanded and wages rose in October, despite multiple rate increases this year.
Private sector job growth picked up in October after the service sector added jobs at a brisk pace. Travel, hospitality and entertainment companies led the job additions.
Pending home sales plunged 31% from a year ago after sellers and buyers stayed away. Sales in the West plunged 39% and in the South and Northeast fell 30% and in the Midwest declined 27% from a year ago.
