TC Global Commercial | Blog

U.S. - More Strong Housing Numbers

• Existing home sales rose 2.4% to a 6.0-million unit annual pace. The surge in sales further depleted inventories and pushed prices sharply higher.
• The IHS Market Purchasing Managers’ survey noted that manufacturing conditions improved in September.
• New home sales soared 4.8% to

Global Mobility Report

Key takeaways from this week (Google data through September 13, Apple data through September 21) 

• European activity is surging. Germany and Italy are leading the way, but France is close behind despite an ongoing rise in cases. The Google data are a bi

Energy

A March survey by the Federal Reserve Bank of Dallas found most exploration firms need West Texas Inter-mediate (WTI) at $49 per barrel or higher to profitably drill a well. EIA doesn’t forecast WTI to reach that level until late in ’21. And Rystad Energy doesn’t see drilling activity returning to last year’s level for at least f

U.S. - First Impressions Are Not Always Right

The details were generally more favorable. The retail sectors hurt most by the pandemic saw gains in August, factory output is growing and soaring homebuilder confidence suggests soft construction data this week may be transitory. For details on the Fed meeting this week, see Interest Rate Watch on page 6. On the face of th

U.S. - Labor Focus

• In the holiday-shortened week, analysts’ attention remained on the progress of the labor market. Recent jobless claims data remain stubbornly high and point to a slowing jobs rebound.
• Aside from claims, inflation data were also a highlight this week. Prices continued to pick up in August, but we expect it will be

A Faster, but Still Far From Complete, Recovery

Although the recovery from the COVID recession is still far from over, the U.S. economy is bouncing back faster than many expected. The third quarter’s rebound now looks to be even stronger than estimated last month, with GDP increasing at a roughly 25% annualized pace.