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Category Archives: Economic News
Weekly Economic Update
Economic Update (0/-) The ISM Non-manufacturing index came a bit weaker than expected, falling from November’s 53.9 to 53.0 for December (expectations called for 54.7). On the positive side, employment improved by several points, while business activity was generally … Continue reading
Weekly Economic Update
(+) The ISM Manufacturing survey came in stronger than expected for December, at 57.0 versus a forecasted 56.8, but was a bit lower than November’s 57.3 result. Underlying data was similarly strong, little changed from the prior month, with higher … Continue reading
Weekly Economic Update
During the holiday-shortened week, we received a small dose of economic data. For the most part, the news was positive: consumer confidence rebounded while shopping for the holiday season, a stronger than expected number of durable goods orders in November, … Continue reading
Weekly Economic Update
Economic Update (+) We discussed this already in depth via the mid-week ‘Fed Note,’ but the FOMC elected to taper—on the order of $10 bil. in total (taking the monthly $85 bil. purchases down to $75 bil.). Per the official … Continue reading
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FOMC Final Meeting
The Federal Reserve Open Market Committee completed their final meeting of 2013 a few minutes ago, and while some economists called for the closely-watched tapering decision to be put off until 2014, a $10 billion/month program was announced (with tapered … Continue reading
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Weekly Economic Update
(+) Retail sales for November came in stronger than expected, gaining +0.7% for the month versus an expected +0.6%. More specifically, the ‘core’ number, that excludes volatile results from autos and gasoline, rose +0.5% relative to the expected +0.3%, and … Continue reading
Weekly Economic Update
Following the holiday, it was somewhat of a big week for economic reports as we head into the final pre-Christmas stretch. (+) The second estimate of 3rd quarter GDP was revised up substantially from the original 2.8% to 3.6%, which … Continue reading
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Weekly Economic Update
I hope you all had a great Thanksgiving and enjoyed some wonderful bargains on Black Friday. What is great about Black Friday is that it pushes sellers to offer the best deals to entice price-conscious shoppers. The holiday sales phenomena … Continue reading
Weekly Economic Update
(+) Retail sales rose +0.4% for October, which exceeded expectations of a +0.1% increase. Removing the usually volatile automobile, gasoline and building materials components pushed the gain up to +0.5%, which also outperformed the consensus forecast of +0.3%. The monthly … Continue reading
Weekly Economic Update
A week shortened by Veteran’s Day left us with fewer data points than usual, but enough to weave a story around. (0/+) Industrial production fell -0.1% in October, which was a bit of a surprise considering expectations called for a … Continue reading
The Chairwoman and QE
Janet Yellen had her Senate confirmation hearing this morning to become the Chairwoman of the Federal Reserve when the Bernank’s term ends in January. Now it’s simply a matter of time until she takes the reigns. So what does this … Continue reading
Weekly Economic Update
(+/0) The advance GDP figure for the third quarter came in at +2.8%, which dramatically surpassed consensus expectations of +2.0% or so. However, much of the positive impact (0.8% of that 2.8%) came from larger inventory accumulation coupled with a … Continue reading
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