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The Daily Friday, October 18, 2024

Press Release

October 18, 2024

Monthly credit aggregates, August 2024

In August, the total credit liabilities of households rose 0.3% (+$7.7 billion) to reach $2,982.7 billion. Real estate secured debt, composed of both mortgage debt and home equity lines of credit, grew 0.3% (+$7.0 billion). Household mortgage debt increased 3.8% on an annualized basis (+$6.9 billion), a slight acceleration compared with July (+3.3% on an annualized basis). In August, the policy interest rate remained at 4.50%, after decreases in the prior two months.

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Surveying and mapping services, 2023

After two years of strong growth, operating revenue for the surveying and mapping services industries (+4.8%) increased at a more moderate pace to $2.9 billion in 2023. Demand for these services has slowed, as housing starts, the number of building permits, and investment in new construction have been declining since 2021. Operating expenses grew 7.3% to $2.6 billion in 2023, lowering the profit margin for the second year in a row (from 14.4% in 2021 to 11.0% in 2023). The largest expense item continued to be salaries, wages, commissions and benefits, representing just over half (51.0%) of total operating expenses.

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Real-time local business conditions, October 7 to 13, 2024

Weekly data on real-time local business conditions are now available for October 7 to 13, 2024.

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