American consumers ended the year on a strong note, with sales at retail stores, restaurants and online continuing to show significant gains in December. Total retail sales increased by 0.4%, following an upward revision to 0.8% from 0.7% in November, according to Commerce Department data released on ... READ MORE >
Initial jobless claims fall to lowest level since April
Initial jobless claims fell unexpectedly to 211,000 for the last week of December, the Labor Department reported on Thursday. The decline put initial claims at their the lowest level since April, fully offsetting the spike in the summer, which by now is looking more like seasonal volatility. Read ... READ MORE >
The Fed is right: Strong GDP data points to fewer rate cuts
The latest estimate of gross domestic product in the third quarter came out stronger than expected, rising by 3.1% instead of 2.8%, according to government data released on Thursday. Upward revisions to personal consumption, trade and government spending drove the gains. The labor market also showed ... READ MORE >
Housing starts fall below estimates as permits rebound
Housing starts dropped unexpectedly again in November to 1.289 million on an annualized basis, continuing the downtrend that began in 2022. The increase in starts from rebuilding in the South after the hurricanes was not enough to offset declines in the Midwest and the West. But the downside ... READ MORE >
Rising demand helps U.S. retail sales top forecasts
Retail sales topped forecasts in November, growing at a robust pace for the third month in a row. Sales at retail and online stores increased by 0.7%, according to the Census Bureau on Tuesday. Car sales were behind the increase, yet sales also looked strong in other key components. The control ... READ MORE >
American household net worth sets record, bringing debt-to-asset ratio to 50-year low
American household net worth reached a record in the third quarter, rising to nearly $170 trillion, according to the Federal Reserve on Thursday. The primary driver of this increase was rising equity prices, which added $2.8 trillion, marking the fourth consecutive quarter of significant ... READ MORE >
Inflation ticks up amid seasonal factors and strong growth
The disinflation trend continued to stall in November, according to the most recent consumer price index data released on Wednesday. November marked the first month since April when overall CPI inflation grew by 0.3% monthly, or 3.7% annualized, well above the Federal Reserve's 2% target and a cause ... READ MORE >
October job openings surge as labor market shows resilience
The sharp increase in job openings in October reaffirmed our call that the weaknesses of recent months were short-lived. Most of the gains in vacancies came from the South, which was hit by Hurricane Milton. Total job openings in October rose to 7.74 million from 7.37 million, the Bureau of Labor ... READ MORE >
Durable goods orders were mixed in October as Q3 GDP remained strong
Business spending on equipment was mixed in October, likely because of uncertainty over the direction of fiscal and monetary policies, the Commerce Department reported on Wednesday. But that is likely to increase in the months ahead as those uncertainties ease. And with more domestic growth as the base ... READ MORE >
U.S. consumer confidence improves to highest level in more than a year
Consumer confidence edged up in November to its highest level in more than a year, driven by improved sentiment about both the current economic situation and future expectations. The consumer confidence index rose to 111.7 from an upwardly revised 109.6, the Conference Board reported on Tuesday. The ... READ MORE >