Category Archives: Economic News

Economic Update 1-10-2023  Economic data for the first week of the year included several reports continuing to show a strong labor market, although not as strong as it has been. However, ISM manufacturing fell further into contraction, joined by ISM … Continue reading →

Economic Update 1-03-2023  Economic data for the week included housing prices that continued a decline from peak levels, as well as a drop in pending home sales. Some regional PMI data improved, while jobless claims remained at a steady low … Continue reading →

Economic data for the week included consumer inflation decelerating at a faster degree than expected; however, the Federal Reserve and other global central banks maintained policies of raising interest rates at a fast clip. Retail sales and industrial production both … Continue reading →

The Federal Reserve Open Market Committee raised the Fed funds rate today by 0.50%, to a range of 4.25-4.50%. The vote was unanimous, and marks a downshift from a pace of four straight 0.75% hikes. The formal statement language was … Continue reading →

Economic Update 12-12-2022  Economic data for the week included an unexpected gain in ISM services/non-manufacturing, higher-than-expected producer prices, and an improvement in consumer sentiment. Global equity markets fell back last week, along with higher interest rates; however, Chinese stocks gained … Continue reading →

Economic Update 12-05-2022  Economic data for the week included an upward revision to Q3 U.S. GDP, higher personal income/spending, as well as a positive surprise from the November employment situation report. These were offset by a decline of ISM manufacturing … Continue reading →

Economic Update 11-28-2022  On a Thanksgiving-shortened week, economic reports included surprisingly positive data from durable goods orders and new home sales, and improvement in consumer confidence, while jobless claims rose a bit. Global developed market equities gained last week, while … Continue reading →

Economic Update 11-21-2022  Economic data for the week included a gain in retail sales, while industrial production fell back slightly, and several housing metrics continued their multi-month declines. Regional manufacturing indexes were mixed, showing sharply divergent results. The Index of … Continue reading →

Economic Update 11-16-2022  Economic data for the week included consumer price inflation coming in still higher relative to history and the Fed’s target, but at a slower pace than last month. The widely-anticipated mid-term elections resulted in a likely divided … Continue reading →

Economic Update 11-07-2022  Economic data for the week included the Federal Reserve continuing its robust pace of interest rate increases—last week again by 0.75%. The ISM manufacturing and services surveys declined, but remained in expansionary territory. Labor reports continued to … Continue reading →

The Federal Reserve Open Market Committee raised the fed funds rate today by another 0.75%, from 3.00-3.25% to 3.75-4.00%. The vote was unanimous, with no dissents. The formal statement language was hardly changed except for the addition of two lines, … Continue reading →

Economic data for the week included Q3 GDP showing positive growth, slightly better than expected. Durable goods orders also experienced a positive month, as did personal income and spending for September. On the other hand, new home sales and various … Continue reading →