Supply chain issues continue to contribute to rising inflation, as manufacturers and distributors of goods struggle to deliver as much as pre-pandemic levels.

The Fed said employers reported significant increases in prices and wages even as economic growth slowed to a “modest to moderate” pace in September and early October.

Jobless claims hit another pandemic low, dropping to 290,000 last week, the 3rd straight drop. Continuing claims also continued their steady decline.

Homebuilding unexpectedly fell in September. Permits dropped to a 1-year low amid shortages of materials and labor, supporting expectations of slowing economic growth.

Existing home sales rose in September, likely due to a brief decline in mortgage rates. First-time buyers made up just 28% of sales, the lowest level since July 2015.

Single-family rents are surging, and investors are flooding the market. August rents rose 9.3% year over year, up from a 2.2% year-over-year increase in August 2020.