Economy in Brief: 2009

During last year's fourth quarter, labor productivity in the nonfarm business sector fell 0.4% (AR), revised down sharply from last month's indication of a 3.2% increase. The downward revision to 4Q08, however, was offset by upward [...]

This trend is not a friend - In our select group of EMU members (see table) all show month-to-month deterioration in services activity. Meanwhile, the UK continues to cut losses relative to its November low. The US follows a pattern [...]

Challenger, Grey & Christmas reported that February job cut announcements eased slightly to 186,350 following 241,749 layoffs during January. Challenger also reported that announced hiring plans reversed much of the strong January [...]

The Composite Index for the nonmanufacturing sector from the Institute for Supply Management (ISM) slipped in February to 41.6 from an unrevised January reading of 42.9. Consensus expectations were for a somewhat larger decline to [...]

The payroll processor ADP indicated in its latest National Employment Report that private nonfarm payrolls fell 697,000 last month. That followed a 614,000 decline during January which was revised from the initial estimate of a [...]

The payroll processor ADP indicated in its latest National Employment Report that private nonfarm payrolls fell 697,000 last month. That followed a 614,000 decline during January which was revised from the initial estimate of a [...]

The Australian Central Bank kept its benchmark interest rate at 3.25% today after reductions of 400 basis points over the last seven months, as shown in the first chart. Governor Glenn Stevens, in announcing the decision, remarked [...]

What can be said about the decline in U.S. vehicle sales that hasn't already been noted? It's been picking up momentum recently. It's been to the lowest level since 1982. It's been broad-based across manufacturers and product type. [...]