Economy in Brief

• Chicago PMI fell to the lowest level since March 2009. • ISM-Adjusted measure similarly weakened due to the coronavirus. • Lower orders and production led this month's decline. The Chicago Purchasing Managers Business Barometer fell [...]

• Spending cutbacks are widespread due to the coronavirus. • Personal income declines with the fall in employment. • Pricing power weakens. Personal consumption expenditures declined a record 7.5% (-3.8% y/y) during March as hiring [...]

• Initial jobless claims declined to a still extremely-elevated 3.839 million in the week ending April 25. • Over the last six weeks 30.3 million people or 18.6% of the labor force have filed new claims. • Eleven states had over [...]

• Growth of overall compensation unexpectedly picked up to 0.8% q/q in 2020 Q1. • Wages and salaries growth accelerated while benefits slowed. The employment cost index (ECI) for civilian workers rose 0.8% q/q in the first quarter of [...]

• Spending cutbacks are widespread due to the coronavirus.

• Spending cutbacks are widespread due to the coronavirus.

U.S. GDP declined 4.8% (SAAR) last quarter following a 2.1% Q4 2019 rise. A 3.8% fall had been expected in the Action Economics Forecast Survey. The decline was the first since Q1'14 and the largest since an 8.4% drop in Q4'08. The [...]

U.S. GDP declined 4.8% (SAAR) last quarter following a 2.1% Q4 2019 rise. A 3.8% fall had been expected in the Action Economics Forecast Survey. The decline was the first since Q1'14 and the largest since an 8.4% drop in Q4'08. The [...]