US Weekly US jobless claims fell to 220,000 in the week ending 6 January, the lowest reading since 1973, when the US population was far smaller than today. The US Department of Labor reported last Friday that the US unemployment rate held steady at 4.1% In December. Industrial production rose 0.9% last month, which was [...]
US The Job Openings and Labor Turnover Survey (JOLTS), import price index and producer price index all came in a bit on the soft side. Job openings edged down for a second straight month in November, a respite from the sharp run-up over the first three-quarters of 2017. Openings are up 4.4% over the past [...]
US The ISM manufacturing index for December remained in solid expansion territory, coming in at a mild 59.7 to extend a five-month streak above 58. The last time the index posted such a run was in 2004, then 1987 prior to that. Activity rose across most sub-categories, particularly new orders, which surged to its 13-year [...]
US US housing market conditions were largely positive in October and November with forward-looking indicators suggesting upbeat conditions to continue. The NAHB/Wells Fargo survey of homebuilder sentiment in December revealed optimism not seen since 1999. The strong report exceeded expectations, as the overall gauge rose five points on the month to a reading of 74. [...]
US US economic data this week continued to signal moderate economic growth and inflation started to show signs of picking up. Following November’s performance, consumer prices are now up 2.2% on a year-on-year basis, while producer prices are now up 3.1%. The more recent inflation data combined with the rate hike out of the FOMC [...]
US US employers added 228,000 new jobs in November, which was better than expected. The print is particularly encouraging given that the distortions related to the storms this hurricane season have largely dissipated. Gains were widespread across major industries, with only information and federal government employment seeing declines. US unemployment held steady at 4.1% last [...]
US October’s new home sales report suggests that the market was very competitive and there is little relief ahead. The pace of new sales accelerated to the fastest of the current cycle, as products were sold even before construction. Some of the uptick may be traced to seasonal factors. The largest gains were in the [...]
US Data on existing home sales came in slightly above expectations. Overall sales rose 2.0% in October, rising to a 5.48 million unit pace, following a smaller than initially reported 0.4% increase in September. Those two gains followed three consecutive monthly drops during the summer months that have raised some concerns that the housing recovery [...]
US Three of the leading US inflation indicators, the consumer price index, the producer price index and the import price index, collectively showed a firming of price growth in October. Although the headline CPI decelerated slightly in October, the slowdown reflected a decline in energy prices as the supply disruptions surrounding Hurricanes Harvey and Irma [...]
US On Tuesday, the JOLTS survey was released and indicated that demand for workers continues exhibiting strength. This is not necessarily a surprising story, given to low unemployment rate at just 4.1%, since December 2000. The job openings rate, which is the percentage of openings compared to the total level of employment including open roles, [...]
