Economic Outlook – 10 September 2023
USA The ISM Services Index bested consensus expectations and rose to 54.5, hitting the highest reading since February. The monthly upturn highlights ongoing strength in the service sector, which has shown little indication of slowing in [...]
Economic Outlook – 3 September 2023
USA Nonfarm payrolls rose 187K in August, a bit more than the median economist forecast calling for a +170K print. However, this positive surprise was held back by a -110K cumulative revision to the previous month’s [...]
Economic Outlook – 27 August 2023
USA Existing-home sales declined 2.2% in July to 4,070K (seasonally adjusted and annualized). Contract closings fell in both the single-family (-1.9% to 3,650K) and the condo (-4.5% to 420K) segments. Lower sales, combined with an increased [...]
Economic Outlook – 20 August 2023
USA Retail sales advanced 0.7% in July, overshooting the +0.4% print expected by consensus. The prior month’s growth was revised up from +0.2% to +0.3%. Sales of motor vehicles and parts contributed negatively to the headline [...]
Economic Outlook – 6 August 2023
USA Nonfarm payrolls rose 187K in July, a bit less than the median economist forecast calling for a +200K print. This negative surprise was compounded by a -49K cumulative revision to the previous two months’ data. [...]
Economic Outlook – 30 July 2023
USA According to the Bureau of Economic Analysis, real GDP expanded 2.4% annualized in the second quarter, more than the median economist forecast calling for a +1.8% print. YoY, economic output rose 2.6%. Domestic demand continued [...]