US Minutes from the October FOMC meeting indicated the Fed is content to remain on the sidelines for the rest of this year as the looser financial conditions resulting from rate cuts at three consecutive meetings feed through to the economy. Committee members judged the current stance of monetary policy as “appropriate”, while recognizing that [...]
US Reverberations of slowing global growth and trade uncertainty have been most acutely felt in the factory sector, given newly imposed tariffs on a wide array of producer inputs and globally integrated supply chains. The weakness was on full display in October, as manufacturing production slipped 0.6%, the second straight monthly decline. Adding to their [...]
US The ISM non-manufacturing index, a measure of the breadth of activity in the US service sector, beat expectations last week by climbing to 54.7 from a three-year low of 52.6 last month. The multiyear low of the non-man survey was especially concerning last month because it came just two days after its manufacturing counterpart [...]
US US economy grew at a 1.9% annualized pace last quarter, slowing marginally from 2.0% recorded in the second quarter. Sectors centered on the domestic side of the economy, including consumer spending (+2.9%), residential investment (+5.1%), and government spending (+2%), all made positive contributions. US business investment declined for the second straight quarter (-3%), while [...]
