EconUpdate by P. Duffy
Initial unemployment claims rebound slightly to 353,000
In the week ending August 21, initial unemployment claims were 353,000, an increase of 4,000 from the previous week’s revised level. Continued claims during the week ending August 14 were 2,862,000, a decrease of 3,000 from the previous week’s revised level. The total number of continued weeks claimed for benefits in all programs for the week ending August 7 was 12,007,632, an increase of 182,165 from the previous week.
2Q2021 GDP growth raised to 6.6 percent in second estimate
Real gross domestic product (GDP) increased at an annual rate of 6.6 percent in the second quarter of 2021, according to the “second” estimate released by the Bureau of Economic Analysis. In the advance estimate, the increase in real GDP was 6.5 percent. In the first quarter, real GDP increased 6.3 percent.
Homebuyer Demand Index up 20 percent year-on-year for week ending 8/22
During the week ending August 22, the seasonally adjusted Redfin Homebuyer Demand Index—a measure of requests for home tours and other services from Redfin agents—edged up slightly from the previous week to its highest point since the week ending April 11, and was up 20% from a year earlier.