Individuals felt the need to bolster savings account balances and pared back spending during January. Additions to savings were aided by tax cuts. Personal consumption expenditures gained 0.2% (4.4% y/y) during January following an [...]
Global| Mar 01 2018
U.S. Personal Spending Growth Eases as Savings Are Rebuilt
by:Tom Moeller
|in:Economy in Brief
Global| Mar 01 2018
U.S. Initial Claims for Unemployment Insurance Reach 48-Year Low
Initial unemployment insurance claims fell to 210,000 (-7.9% y/y) during the week ended February 24 from 220,000 in the prior week, which was revised from 222,000. Expectations in the Action Economics Forecast Survey looked for [...]
Global| Feb 28 2018
Japan's IP Tanks, Housing Starts Plunge and Retail Sales Drop...What's Next?
Japan had more than a bad hair day as economic reports showed helter-skelter weakness. Industrial output in January fell by 6.6%, an astoundingly weak one month result. Retail sales fell by 1.2% in January. Housing starts in Japan [...]
Global| Feb 28 2018
Chicago Purchasing Managers Index Weakens Again
The Chicago Purchasing Managers Business Barometer for February declined to 61.9 following a fall to 65.7 in January. It was the lowest index level since August 2017 and well below December's peak of 67.8. A decline to 64.0 had been [...]
by:Tom Moeller
|in:Economy in Brief
Global| Feb 28 2018
U.S. GDP Growth Is Slightly Lessened
In the second estimate of Q4'17 real GDP, the U.S. economy grew 2.5% (AR), slightly less than 2.6% estimated in the advance report. That followed a 3.2% Q3 rise and a 3.1% Q2 gain. Growth picked up, however, from Q4-to-Q4 to 2.5%, its [...]
by:Tom Moeller
|in:Economy in Brief
Global| Feb 28 2018
U.S. Pending Home Sales Cool
The National Association of Realtors (NAR) reported that pending home sales fell 4.7% (-3.8% y/y) in January to an index level of 104.6 (2001=100). This is the lowest level since October 2014 and is down 7.5% from its current-cycle [...]
Global| Feb 27 2018
U.S. Consumer Confidence Firms
The Conference Board Consumer Confidence Index increased 1.9% during January (12.4% y/y) to 125.4 following a 4.3% December decline to 123.1, revised from 122.1. A level of 123.2 had been expected in the Action Economics Forecast [...]
by:Tom Moeller
|in:Economy in Brief
Global| Feb 27 2018
U.S. Consumer Confidence Strengthens to 2000 High
The Conference Board Consumer Confidence Index increased 5.2% during February (12.7% y/y) to 130.8, following a 1.0% January rise to 124.3, revised from 125.4. It was the highest index level since November 2000. A level of 126.7 had [...]
by:Tom Moeller
|in:Economy in Brief
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