About

This author has not yet filled in any details.
So far has created 29 blog entries.

October 2021

Economic Outlook – 10 October 2021

2021-10-10T09:03:23+00:00

USA • Non-farm payrolls rose just 194K in September, a lot less than the +500K print expected by consensus. Partially compensating for this disappointing result, the prior month’s results were upgraded by a sizeable 169K. The private sector added 317K jobs. Employment in the goods sector sprang 52K thanks to gains in manufacturing (+26K), construction [...]

Economic Outlook – 10 October 2021 2021-10-10T09:03:23+00:00

Economic Outlook – 3 October 2021

2021-10-10T09:04:24+00:00

USA • Durable goods orders increased in August. Total orders were up 1.8% MoM, far above the +0.7% print expected by consensus. July orders growth was revised from -0.1% to +0.5%. Following the monthly increase for this indicator, total orders were 14.1% above their February 2020 (prepandemic) level. The improvement in August was due mainly [...]

Economic Outlook – 3 October 2021 2021-10-10T09:04:24+00:00

September 2021

Economic Outlook – 26 September 2021

2021-09-29T01:20:18+00:00

USA • New-home starts rose 3.9% to an annual pace of 1.615 million units following a revised decline of 6.2% the previous month. Reflecting stronger demand for apartments, multifamily starts accounted for the overall gain in August. They rose 20.6% or 92K to an annual rate of 539K units. This more than offset the 2.8% [...]

Economic Outlook – 26 September 2021 2021-09-29T01:20:18+00:00

Economic Outlook – 19 September 2021

2021-09-19T15:10:16+00:00

USA • The Consumer Price Index advanced 0.3% MoM in August after climbing 0.5% the prior month. This result was slightly weaker than the +0.4% print expected by consensus. The energy component rose 2.0% thanks in part to a 2.8% gain in the gasoline segment. The cost of food, for its part, increased 0.4%. The [...]

Economic Outlook – 19 September 2021 2021-09-19T15:10:16+00:00

Economic Outlook – 12 September 2021

2021-09-14T09:13:39+00:00

USA • The Producer Price Index (PPI) for final demand jumped 0.7% MoM, one tick more than expected by consensus. This gain came in the wake of seven solid prints in January (+1.2%), February (+0.7%), March (+0.8%), April (+1.0%), May (+0.5%), June (+1.0%) and July (+1.0%). Goods prices rose 1.0% on a healthy gain for [...]

Economic Outlook – 12 September 2021 2021-09-14T09:13:39+00:00

Economic Outlook – 5 September 2021

2021-09-06T18:27:22+00:00

USA • Non-farm payrolls rose 235K in August, a lot less than the median economists forecast calling for a +733K print. Partially compensating for this disappointing result, the prior month’s results were upgraded by a sizeable 134K. The private sector added 243K jobs. Employment in the goods sector sprang 40K thanks to gains in manufacturing [...]

Economic Outlook – 5 September 2021 2021-09-06T18:27:22+00:00

Economic Outlook – 29 August 2021

2021-09-02T19:10:38+00:00

USA • Durable goods orders fell 0.1% to US$257.2 billion after swelling 0.8% and 3.2% in June and May, respectively. Orders for vehicles and parts rose US$2.96 billion or 5.8% to US$53.8 billion, a gain that was more than offset by a 48.9% decline (US$7.04 billion) in non-defence aircraft and parts orders to US$7.4 billion [...]

Economic Outlook – 29 August 2021 2021-09-02T19:10:38+00:00

August 2021

Economic Outlook – 22 August 2021

2021-08-23T10:53:45+00:00

USA • Retail sales fell 1.1% in July, more than the 0.3% drop expected by consensus. The negative surprise was only partially compensated by an upward revision to the prior month’s result from +0.6% to +0.7% • The employment report for July and healthy revisions to prior months marked a strong step toward the Fed's [...]

Economic Outlook – 22 August 2021 2021-08-23T10:53:45+00:00

Economic Outlook – 15 August 2021

2021-08-15T18:25:48+00:00

USA • According to the Job Openings and Labor Turnover Survey, the number of available jobs to be filled totaled 10.07 million as at the last business day of June, a new record high, up 590K from an upwardly revised 9.48 million in May. Job openings were up in all industries but manufacturing, with trade [...]

Economic Outlook – 15 August 2021 2021-08-15T18:25:48+00:00

Economic Outlook – 8 August 2021

2021-08-09T16:33:32+00:00

USA • The ISM manufacturing index for July came in slightly below expectations at 59.5, the first sub-60 headline reading since January. Below the headline, there was some indication that supply and demand were coming back into balance. Supplier deliveries fell to a five-month low of 72.5, as the pace of new orders eased 1.1 [...]

Economic Outlook – 8 August 2021 2021-08-09T16:33:32+00:00