A colder-than-normal January pushed industrial production up significantly as utility production rose 9.9% on the month—the highest rate on record. … READ MORE >
Retail sales outpace inflation in January despite omicron surge
Inflation and the omicron surge did not deter American consumers from beginning the year on a strong note as retail sales rebounded sharply in January. Purchases at retail stores, restaurants and online rose 3.8%, outstripping inflation for the first time in three months. … READ MORE >
Energy shock: Potential impact of Russian invasion of Ukraine
A Russian invasion of Ukraine would shave a little less than 1% from gross domestic product over the next year and cause inflation to rise by close to 2.8 percentage points to over 10%. … READ MORE >
Chart of the day: New jobless claims continue to fall
New filings for jobless benefits dropped by 16,000 to 223,000 for the week ending Feb. 5 on a seasonally adjusted basis, only 5,000 from reaching its pre-pandemic level of 218,000. … READ MORE >
Chart of the day: U.S. trade deficit widens
The U.S. trade deficit widened in December for the second straight month as domestic demand for imported goods ended the year on a strong note. … READ MORE >
Chart of the day: Jobless claims fall as omicron crests
Initial jobless claims dropped to 238,000 on a seasonally adjusted basis for the week ending Jan. 29, a decline of 23,000 from a week earlier. … READ MORE >
Manufacturing slowed in January as labor market remained tight
Manufacturing slowed in January as demand moderated from a recent high in November amid a tight labor market. … READ MORE >
Chart of the day: Consumer confidence falls amid omicron fears
The consumer confidence index inched down to 67.2 in January from 70.6 in December as concerns over the omicron variant’s surge weighed on consumers both now and in the future. … READ MORE >
Key gauges of prices and labor rise, affirming likelihood of rate hikes
Two of the Federal Reserve’s closely watched gauges for prices and labor costs released on Friday reaffirmed expectations that the central bank will begin raising interest rates in March as the Fed moves to tame inflation. … READ MORE >
Chart of the day: Initial jobless claims drop as omicron crests
New filings for jobless claims last week fell to 260,000, following the 14-week high of 290,000 in the previous week as COVID-19 cases continued to retreat from their record high in January, according to government data released Thursday.
… READ MORE >