The Blog ofJoselyne Muszynski, PA

Economy gains steam in this week’s Markets in a Minute!



  • Signaling an improving economy, 2nd quarter gross domestic product expanded at a 1.4% rate. The Fed will consider this when making policy rate decisions.
  • The labor market also is continuing to show strength. Jobless claims rose slightly, but less than expected, and remained below the 300,000 mark for the 82nd time.
  • In testimony to Congress this week, Fed Chair Janet Yellen said a Fed increase to policy rates is still likely for this year. The strong data supports that action.


  • August new home sales were higher than expected, and July’s number was also increased. Strong demand for new homes continues to keep inventory in tight supply.
  • Signed contracts to buy existing homes were down slightly in August. However, the slight reduction was blamed on lack of supply, not on lack of demand.
  • One positive effect of tight inventory is that home prices continue to appreciate. Prices are rising at a rate of about 5% annually nationwide.