US US April factory orders declined 0.8%, reversing part of March’s 1.7% increase. The closely watched core capital goods shipments component climbed 0.9% in the first month of the quarter, supporting the view of a modest pace of equipment investment. There were, however, signs of strain in the supply chain as the number of unfilled [...]
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US US consumers’ optimism about the economy helped to fuel spending above and beyond income growth in April. US household spending rose 0.6% in April, while personal income rose 0.3%. Stronger spending has also been driven by the recent federal tax changes leading to lower withholding for many households. Income outpaced spending the first two [...]
US New US home sales declined 1.5% in April, dropping to an annual pace of 662,000 units. This was better than the consensus estimate of a 2.1% decline. However, March new home sales were revised downward to a 2.0% monthly gain from a first reported 4.0% rise. New home sales are now 8.4% higher year-to-date [...]
US US small business optimism rose slightly in April after losing some ground in March. That followed a cycle high hit in February after the tax cuts boosted the mood on main street. The mood is still very upbeat. Strong demand is translating into rising earnings on net for firms. Small businesses are also seeing [...]
US The US personal income and spending report showed an encouraging spending rebound in March. Consumer spending rose 0.4% during the month on both a real and nominal basis. The 0.4% rise came on the heels of a weaker February gain, with nominal spending flat and real spending declining 0.2%. Consumer spending took a breather [...]
US US real GDP growth slowed in the first quarter to an annualised pace of 2.3 %. One key reason for the slower growth rate was that consumer spending grew at just a 1.1% annualised clip. That is the slowest pace in more than four and a half years. Did something happen to surging consumer [...]
To understand the recent situation regarding China and the oil industry, it is important to note some key points that put things into context: Oil is the most traded commodity in the world. China is the world's largest consumer of oil. They only became the largest importer of oil in 2016, before that it was [...]
US Retail sales were above consensus and increased 0.6% in March, reversing the recent three-month string of declines. Winter weather in the Northeast, which was widely expected to have a greater adverse effect, was limited. The improvement was driven by auto sales, health and personal care and non-store retailers’ sales. Control group sales, which are [...]
US Those who were hoping for signs of firming inflation were not disappointed. The inflation celebration was kicked off on Tuesday with the release of March’s producer price index (PPI), which rose 0.3% ahead of expectations for a 0.1% gain. Besides the energy component, all major sub-sectors saw prices rise last month. Moreover, this now [...]
On Wednesday 21 March 2018, the Federal Open Market Committee (FOMC) of the Federal Reserve Bank (Fed) announced they would raise the interest rates by 0.25 % to a new target range between 1.5 % and 1.75 %. The FOMC argues that compared to its last meeting in January 2018, the economic activity and labor market [...]