About

This author has not yet filled in any details.
So far has created 63 blog entries.

July 2022

Economic Outlook – 10 July 2022

2022-07-10T18:47:59+00:00

USA • Nonfarm payrolls rose 372K in June, a lot more than the +265K pint expected by consensus. This positive surprise was partly offset by a 74K downward revision to the previous months’ results. Employment in the goods sector jumped 48K, with gains in manufacturing (+29K), construction (+13K) and, to a lesser, extent, mining/logging (+6K). [...]

Economic Outlook – 10 July 2022 2022-07-10T18:47:59+00:00

Economic Outlook – 3 July 2022

2022-07-06T15:33:22+00:00

USA • Consumer prices measured by the PCE deflator rose another 0.6% in May, lifting the annual rate back up a touch to 6.35% from 6.29% previously. Elevated and persistent price pressures have dramatically weighed on real disposable personal income, which is now about 5.4% below where it would be implied by its trend in [...]

Economic Outlook – 3 July 2022 2022-07-06T15:33:22+00:00

June 2022

Economic Outlook – 26 June 2022

2022-06-29T06:33:11+00:00

USA • Markit’s flash composite PMI cooled from 53.6 in May to a 5-month low of 51.2 in June. While still above the 50-point mark separating expansion from contraction, this result was the second weakest since July 2020, when the economy was emerging from a pandemic-induced lockdown. New orders across the private sector were the [...]

Economic Outlook – 26 June 2022 2022-06-29T06:33:11+00:00

Economic Outlook – 12 June 2022

2022-06-13T16:45:35+00:00

USA • The Consumer Price Index rose 1.0% MoM in May, a lot more than the already solid +0.7% print expected by consensus. This came after a 0.3% increase the prior month. Prices in the energy segment jumped 3.9% in May on steep gains for gasoline (+4.1%), fuel oil (+16.9%) and gas utility (+8.0%). The [...]

Economic Outlook – 12 June 2022 2022-06-13T16:45:35+00:00

Economic Outlook – 5 June 2022

2022-06-05T18:06:23+00:00

USA • Retail sales increased 0.9% in April on top of an upwardly revised gain of 1.4% in March. The April increase in sales could not be entirely attributed to higher prices. Overall consumer prices increased 0.3% in April, but goods prices fell 0.3% in the month • Nonfarm payrolls rose 390K in May, more [...]

Economic Outlook – 5 June 2022 2022-06-05T18:06:23+00:00

May 2022

Economic Outlook – 22 May 2022

2022-05-27T04:20:34+00:00

USA • Retail sales increased 0.9% in April on top of an upwardly revised gain of 1.4% in March. The April increase in sales could not be entirely attributed to higher prices. Overall consumer prices increased 0.3% in April, but goods prices fell 0.3% in the month. • With the retail sales report mostly covering [...]

Economic Outlook – 22 May 2022 2022-05-27T04:20:34+00:00

Economic Outlook – 15 May 2022

2022-05-16T18:39:12+00:00

USA • The Consumer Price Index rose 0.3% MoM in April, slightly more than the +0.2% print expected by consensus. This came after a 1.2% increase in March, the biggest monthly jump since September 2005. Prices in the energy segment cooled 2.7% in April as a 6.1% drop for gasoline was only partially offset by [...]

Economic Outlook – 15 May 2022 2022-05-16T18:39:12+00:00

Economic Outlook – 8 May 2022

2022-05-10T04:20:32+00:00

USA • Nonfarm payrolls rose 428K in April, more than the +380K print expected by consensus. This positive surprise was partly offset by a 39K downward revision of previous months’ results. Employment in the goods sector jumped 66K, with gains in manufacturing (+55K) mining/logging (+9K) and, to a lesser extent, construction (+2K). Services-producing industries, meanwhile, [...]

Economic Outlook – 8 May 2022 2022-05-10T04:20:32+00:00

Economic Outlook – 1 May 2022

2022-05-03T08:58:07+00:00

USA • First quarter GDP was the disappointing marquee release this week, but there were plenty of silver linings. The consensus was for weak, but still positive, growth. Instead, the U.S. economy retreated by 1.4% annualized, after booming 6.9% in the fourth quarter of 2021. The unexpected retrenchment was largely due to a widening trade [...]

Economic Outlook – 1 May 2022 2022-05-03T08:58:07+00:00

April 2022

Economic Outlook – 24 April 2022

2022-04-24T18:54:28+00:00

USA • Markit’s flash composite PMI signaled a strong, but slower increase in business activity across the private sector in April. The headline index came in at 55.1, down from 57.7 the month before. The manufacturing sector tracker advanced from 58.8 to a 7-month high of 59.7 as the rate of increase of both output [...]

Economic Outlook – 24 April 2022 2022-04-24T18:54:28+00:00