the BRIEFING: October 2013

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The Briefing is a monthly piece by Transwestern that discusses the national economy, capital markets and real estate outlook at a glance. It is an aggregation by Tom McNearney, Transwestern's chief investment officer, of other articles and reports.

Published in: Business, Economy & Finance
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the BRIEFING: October 2013

  1. 1. the BRIEFING THE NATIONAL ECONOMY AT A GLANCE OCTOBER 2013 www.transwestern.net
  2. 2. THE ECONOMY 5.6% Houses under-contract fell 5.6% in September due to rising home prices and mortage rates 0.4% 250,000 September retail sales increased a modest 0.4% 200,000 150,000 Inflation at 1.2%, well below the Fed target of 2.0% 100,000 Hiring continued to slow with an average monthly job increase of 143, 000 in 3Q13, down from 182,000 in 2Q13 and 207,000 in 1Q13 Follow us | @Transwestern 1.2% www.transwestern.net
  3. 3. THE ECONOMY, cont. U.S. deficit fell to $680 BILLION On the strength of a steadily improving economy, the budget deficit fell to $680 billion in the fiscal year ending September 30, or 4.1% of GDP − the lowest in 5 years! www.transwestern.net Follow us | @Transwestern
  4. 4. U.S. COMPANIES 6.9% 11% Ten largest banks and securities firms reported adjusted 3Q13 revenues down 4.8% and earnings are down 6.9% Auto sales up 11% to 1.2 mm vehicles in October Follow us | @Transwestern www.transwestern.net
  5. 5. COMMERCIAL REAL ESTATE 16.9% Vacancy rate nudged down to 16.9% from 17.0% in 2Q13 and recession peak of 17.6% Follow us | @Transwestern 0.3% 3Q13 rent growth up 0.3% with 3.3% over past year www.transwestern.net
  6. 6. READ THE FULL REPORT HERE: the BRIEFING THE NATIONAL ECONOMY AT A GLANCE OCTOBER 2013 DISCLAIMER Copyright © 2013 Transwestern. All rights reserved. No part of this work may be reproduced or distributed to third parties without written permission of the copyright owner. The information contained in this report was gathered by Transwestern from various sources believed to be reliable. Transwestern, however, makes no representation concerning the accuracy or completeness of such information and expressly disclaims any responsibility for any inaccuracy contained herein. www.transwestern.net

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