Contrary to recent data signaling otherwise, the U.S. hotel industry hiccuped big time in November, primarily because discounting hurt the top line.
“As noted last month, what we are seeing now is that the hotel industry recovery has gone flat. It seems that the industry, although we are not seeing major declines again yet, is leveling out at very low levels,” commented Maria Simos, CEO of e-forecasting.com.
Dec 15, 2009 7:23 AM
Is this the economic forecasting equivalent of talking your book?
Senior White House economists on Sunday predicted the U.S. economy will start creating jobs by spring and said that boosting employment will be at the top of President Barack Obama's agenda next year.
Dec 14, 2009 11:03 AM
Reading through this roundup of economists' reactions to the strong Friday retail sales numbers, I came away wondering two things: Did electronics retailers make even a dime off their door-buster sales and, more importantly, what are the chances this number gets revised downward a good bit given how surprising it was to so many? This was, after all, the first set of numbers using a new sample.
Dec 14, 2009 9:20 AM
The latest local numbers from First American CoreLogic show no break in the rising trend of people falling well behind on their mortgages. To see an updated map of which Middle Tennessee ZIP codes are suffering most from the real estate crash, click here.
Dec 14, 2009 8:18 AM
The stronger-than-expected rise in November retail sales has a number of people talking. James Picerno says it's another sign we're likely to avoid a painful double-dip, but a snap back is still out of the question.
[W]e'll need to see improving signs in the labor market before we're convinced that retail sales are on a sustained rebound. There's reason to think that the economy will soon be creating jobs on a net basis, as suggested by the trend in nonfarm payrolls. Even then, there's some doubt about the magnitude and duration of the expected recovery in the labor market.Plus, David Rosenberg delivers this little statistical nugget.
That said, the combination of the sequential runup and the detonation in November 2008, when sales plummeted 10% (leaving today’s number with an extremely depressed year-ago base), brought the YoY trend in overall retail sales back into positive terrain (+1.8% from -2.2% in October and -6.3% in September) for the first time since August 2008 — the month before Lehman collapsed.
Dec 11, 2009 12:38 PM
The homebuyer tax credits have helped the headline numbers of late — see yesterday's eye-popping year-over-year gain — but research by Trulia shows Nashville-area home sellers are still lowering prices with the same frequency and to the same extent as four months ago.
Dec 10, 2009 7:30 AM
POSTDATA: WARRANTY DEEDS