The RSM US Supply Chain Index improved to 0.19 standard deviations above neutral in August as inventories and industrial capacity utilization continued to rebound. That marked the second month in a row of supply chain efficiency after nearly three years of being underwater. While it remains too early ... READ MORE >
Consumer sentiment rises to highest level since May
Consumer sentiment improved in September as inflation concerns eased, according to the University of Michigan's index released on Friday. The index rose to 59.5 in September, the highest since May. Still, consumers remain pessimistic compared to before the pandemic, when the long-term average was above ... READ MORE >
Industrial production falls for the first time since June
Industrial production fell by 0.2% in August, the first decline in three months, amid a slowdown in manufacturing and a sharp drop in electricity production. At the same time, mining outputs were flat, likely driven by lower oil prices as demand stalled. After a year and a half of robust growth, ... READ MORE >
Retail sales rebound on strong autos spending
Retail sales in the United States rose by 0.3%, in August, driven by a sharp rise in spending on automobiles, according to Commerce Department data released on Thursday. But after adjusting for inflation, real retail sales growth was flat on the month, following the strong rebound of 0.8% in ... READ MORE >
Producer prices ease as energy costs fall
Prices paid to domestic producers deflated for the second month in a row as energy prices continued to fall and food prices remained unchanged. August's producer inflation index for final demand fell by 0.1% from July, according to data released Wednesday by the Bureau of Labor Statistics. On a ... READ MORE >
Initial jobless claims drop to lowest level since May
The labor market showed continuing strength as last week's new filings for jobless claims fell for the fourth week in a row, tempering recession concerns and bolstering the case for the Federal Reserve to stay aggressive in its interest rate increases. New claims dropped to 222,000, the fewest since ... READ MORE >
Service sector continued to expand in August
Service sector growth inched up in August, marking the 27th month in a row of expansion despite recession fears, according to data from the Institute for Supply Management released on Tuesday. New orders and employment, a proxy for future business activities, also grew faster in August, suggesting a ... READ MORE >
How high must unemployment rise to tame inflation?
Restoring price stability is now the paramount policy goal at the Federal Reserve. Chairman Jerome Powell went out of his way on Friday to point out the lessons of the high inflation in the 1970s and 1980s, and the sacrifice it took to wring it out of the economy after years of delays. "Our aim is to ... READ MORE >
Spending remains steady on strong income growth and inflation relief
U.S. personal income and spending in July signaled a gradual rebound of the economy in the third quarter after six months of declines in gross domestic product. The catalyst was a combination of a tight labor market with steady wage income growth and a sharp drop in inflation on the back of falling ... READ MORE >
Better-than-expected GDP and jobless claims push back recession fear
The decline in U.S. gross domestic product growth in the second quarter was less than previously estimated, according to a revised report from the Bureau of Economic Analysis released on Thursday. GDP contracted by only 0.6% in the second quarter instead of by 0.9%, as estimated in July. In the same ... READ MORE >