Inflation Ticks Up, But Remains Moderate

December's decline in the unemployment rate was not as positive an indicator as it would seem at first. Courtesy of TotalMortgage.com.

December economic data show that housing continues to see ups and downs. In December single-family starts were down but multifamily starts went up. Nonetheless, 2010, though not stellar, was better than 2009, with total starts up 6.1 percent for the year.

Both consumer and producer prices were sent a bit higher by a rise in energy prices. While rents increased more slowly than overall consumer prices, building materials prices rose more rapidly.

Payroll employment advanced, though not by as much as was hoped. Residential construction employment fell, but by a relatively small number. These are positive signs that the economy is turning around, although the recovery may not be as robust as some had hoped.

- Courtesy of NAHB