Economy Decked with Holly? (December 2nd – 6th) 🎅
Ho-ho-hope you’re all ready for another economic update! While you were busy decking the halls and maybe indulging in a cookie or two, the economic elves were hard at work churning out reports. Let’s see what they delivered to our stockings this week.
The Week That Was (December 2nd – 6th):
- Jobs Jingle All the Way: The December jobs report was the star of the show this week, and it brought some good tidings! The economy added more jobs than expected, and the unemployment rate held steady. It seems like Santa’s workshop is buzzing with activity, and businesses are still hiring those holiday helpers.
- Manufacturing’s Merry Melodies: The ISM Manufacturing PMI also chimed in with some positive news. The manufacturing sector is still growing, although at a slightly slower pace. Think of it like Santa’s elves – they’re working hard, but maybe taking a few short breaks to sip some hot cocoa.
What does this mean for YOU?
This week’s reports suggest that the economy is still chugging along, despite those worries about a potential slowdown. This could give the Fed some confidence to keep raising interest rates to fight inflation, which might mean a slight upward nudge for mortgage rates. But don’t worry, it’s unlikely to be a dramatic increase. Think of it like adding a few extra ornaments to your Christmas tree – a subtle change, but still festive!
Looking Ahead (December 9th – 13th):
As we get closer to the holidays, the economic calendar starts to wind down. But there are still a few things to keep an eye on:
- Inflation Insights: We’ll get another update on inflation with the CPI (Consumer Price Index) report. This will give us a better sense of whether those price increases are finally starting to cool down. Fingers crossed for some holiday discounts!
- Consumer Sentiment Check: We’ll also get a reading on consumer sentiment from the University of Michigan. Are people feeling optimistic about the economy as they finish their holiday shopping? This could give us some clues about spending patterns in the new year.
The Bottom Line:
The economy seems to be in a relatively good mood this holiday season, with strong job growth and continued expansion in the manufacturing sector. But inflation is still a Grinch that could spoil the party, so we’ll need to keep a close eye on those upcoming reports. In the meantime, enjoy the festivities, and don’t hesitate to reach out if you have any questions!
Speaking of houses, did you know that December 12th is Gingerbread House Day? Just like building a gingerbread house requires careful planning and the right ingredients, building your dream home (or finding the perfect one) takes careful consideration and the right mortgage. Let’s work together to build a solid foundation for your homeownership goals!
-tom