Download the November 2020 Snapshot
- Growth of consumer spending picked up in September.
Real expenditures on nondurable goods and especially on durable goods increased robustly, while real spending on services rose moderately; services expenditures remained well below their February level.
Consumer confidence measures were mixed in October.
- Real business equipment spending rebounded strongly in 2020Q3.
Shipments of nondefense capital goods ex-aircraft continued to rise in September, and new orders were modestly above shipments, suggesting some further near-term momentum.
- Housing activity continued to expand in September.
Single-family starts and existing home sales rose with signs of further near-term momentum; however, new home sales fell, and uncertainty about the longer-term outlook remains high.
- Payroll employment grew at a slower pace in October. The unemployment rate fell, mainly due to a further decline in temporary layoffs. The labor force participation rate and the employment-to-population ratio both posted sizable gains but remained well below their pre-pandemic levels.
The number of long-term unemployed and the median duration of unemployment both continued to rise.
- Core PCE inflation remained below the FOMC’s longer-run objective.
- U.S. equity indices fluctuated near their all-time highs, amid significant volatility. The nominal 10-year Treasury yield increased modestly but remained low. The market-implied expected policy rate path rose moderately for all maturities. The broad dollar index declined and oil prices fell slightly.
We post accompanying data for the charts, if permitted, with the intent to expand the series to the fullest extent possible.
Read more about the launch of the series: Just Released: U.S. Economy in a Snapshot
, Liberty Street Economics
, June 2015
2020 Release Dates