4627 Outlook

Economic Outlook: February 19, 2021

Feb 19, 2021  | Ep4627

Many factors make up economic health. Each region of the country is dependent on different things, but one area that unites us is shopping. 

January marked the largest increase in eight months for retail sales as $600 stimulus checks quickly fueled activity. A jump of 5.3 percent came in all sectors fueled by purchases of new furniture, clothing and appliances.

The rate of new home building slumped as several factors like higher lumber prices weighed on the pace. However, applications for building permits spiked signaling activity ahead.

The existing home sale market rose slightly in January as record low inventory pushed prices higher.

The Rural Mainstreet Index, again, climbed above growth neutral as sharply higher commodity prices and federal farm support boosted bottom lines.

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