May 2023
Economic Outlook – 21 May 2023
gd_support 2023-05-25T08:08:32+00:00USA Retail sales edged up 0.4% in April, half as much as expected by consensus. Sales of motor vehicles and parts rose 0.4% after falling 1.4% the previous month. Without autos, retail outlays increased 0.4% as increases for miscellaneous retailers (+2.4%), non-store retailers (+1.2%), health and personal care items (+0.9%), general merchandise (+0.9%), and building materials [...]
Economic Outlook – 14 May 2023
gd_support 2023-05-14T14:31:22+00:00USA After rising 0.1% in March, the Consumer Price Index climbed a consensus-matching 0.4% in April. Prices in the energy segment were up 0.6% as an increase for gasoline (+3.0%) was only partially offset by decreases for fuel oil (-4.5%) and utility gas services (-4.9%). The cost of food, meanwhile, remained unchanged for the second month [...]
Economic Outlook – 7 May 2023
gd_support 2023-05-11T06:54:30+00:00USA Nonfarm payrolls rose 253K in April, a lot more than the median economist forecast calling for a +185K print. However, this positive surprise was offset by a -143K cumulative revision to the previous months’ data. Average hourly earnings rose 4.4% YoY in April, up from 4.3% the prior month and two ticks above consensus expectations. [...]
April 2023
Economic Outlook – 30 April 2023
gd_support 2023-05-01T10:16:46+00:00US The Bureau of Economic Analysis put out its first estimate of Q1 GDP growth. The economy reportedly expanded 1.1% annualized in the quarter, undershooting the median economist forecast calling for a +1.9% print. This gain being weaker than potential, the output gap widened from 0.9% to 1.1%. Domestic demand strengthened in the three months to [...]
Economic Outlook – 23 April 2023
gd_support 2023-04-25T09:42:56+00:00USA The S&P Global Flash Composite PMI progressed 1.2 point in April to an 11-month high of 53.5, signaling a solid expansion in private sector activity. New orders piled up at the fastest pace in almost a year, while output rose for the third month running. Growth in private sector headcounts was the strongest since last [...]
Economic Outlook – 16 April 2023
gd_support 2023-04-16T22:08:56+00:00USA The U.S. Consumer Price Index edged up 0.1% in March, one tick less than the median economist forecast calling for a +0.2% print and the least in eight months. Prices in the energy segment retreated 3.5% on declines for fuel oil (-4.0%), gasoline (-4.6%), and utility gas services (-7.1%). The cost of food remained unchanged [...]
Economic Outlook – 9 April 2023
gd_support 2023-04-10T09:33:41+00:00USA The ISM Non-manufacturing PMI remained in expansion territory in March but lost considerable vigor (from 55.1 to 51.2). Growth in business activity decelerated (from 56.3 to 55.4) on the heels of new orders (from 62.6 to 52.2). New export orders, for their part, recorded a massive decrease, diving 18 points from their highest level in [...]
Economic Outlook – 2 April 2023
gd_support 2023-04-03T14:15:53+00:00USA Nominal personal income increased 0.3% in February, a bit more than the median economist forecast calling for a 0.2% gain. Amid a labour market that remains healthy, the wage/salary component of income progressed 0.3% in the month, while income derived from government transfers progressed 0.5%. Personal current taxes, for their part, fell 0.6%. All this [...]
March 2023
Economic Outlook – 26 March 2023
gd_support 2023-03-27T06:35:14+00:00USA The S&P Global Flash Composite PMI jumped 3.2 points in March to a 10-month high of 53.3, signalling a solid improvement in private sector activity. New orders (from 48.5 to 51.2) expanded for the first time in six months, while output grew at the fastest pace since last May. Headcounts, for their part, increased the [...]