New filings for jobless claims inched up by 1.8% last week to 230,000, remaining above the pre-pandemic level for the fifth week in a row. … READ MORE >
U.S. service sector grows, adding pressure on Fed
The Institute for Supply Management’s service index rose in November as business activities increased on the month. … READ MORE >
Canada job gains slow in November
The Canadian economy added 10,100 jobs in November, easing some of the concerns over an overheating labor market after a blockbuster October jobs report. … READ MORE >
Manufacturing sector nears contraction
The ISM’s manufacturing index slowed to 49%, barely above the contraction threshold at 48.7%. It was the third straight decline as demand for manufactured goods stalled. … READ MORE >
Spending holds strong as inflation moderates in October
Spending rose by 0.8% in October while income increased by 0.7%. After adjusting for inflation, real spending rose by 0.5% and income was up by 0.4%. … READ MORE >
Job openings and quits continue to moderate
There remained 1.7 job vacancies per unemployed worker, significantly higher than 2019’s average of 1.2. … READ MORE >
Consumer confidence drops as outlook darkens
The Conference Board’s confidence index dipped to 100.2 in November from 102.2 in the prior month, significantly below the pre-pandemic level at 130. … READ MORE >
Durable goods spending and jobless claims rise
Durable goods orders and shipments posted sharp increases in October, defying recession fears, while jobless claims increased last week. … READ MORE >
RSM US Supply Chain Index returns to pre-pandemic level
Our RSM US Supply Chain Index pointed to supply efficiency for the fourth month in a row, reaching 0.49 standard deviations above neutral in October. … READ MORE >
Housing starts and initial jobless claims give Fed mixed signals
The housing market continued to cool, but not the labor market, government data showed. … READ MORE >