With job openings falling back to normal and the labor supply increasing, the labor market was in balance in July. … READ MORE >
Manufacturing sector declines at a slightly slower rate in August
A result of the slowdown was another month of employment declines, though at a slower pace at 46 compared to 43.4 in the prior month. … READ MORE >
Second quarter GDP is revised higher amid stronger consumer spending
With price stability essentially achieved, a well-performing labor market should continue to be a significant tailwind for growth, especially for consumer spending, in the last two quarters of the year. … READ MORE >
Demand for business spending on equipment falls in July
Core capital goods orders, which exclude aircraft and defense spending, posted a 0.1% decline in July. … READ MORE >
Jobless claims stabilize amid concerns over weak job gains
Initial claims last week rose by only 4,000, to 232,000, on a seasonally adjusted basis. Similarly, continuing claims for the week ending Aug. 8 increased by 4,000, to 1.863 million. … READ MORE >
Consumer sentiment rebounds in August
Consumer sentiment rose for the first time in five months, according to the University of Michigan’s survey in August. … READ MORE >
Robust July retail sales defy growth scare
While the robust July retail sales numbers might come as a surprise given the various pressures on American consumers, the data was very well in line with our forecasts. … READ MORE >
Producer prices grow slower than expected, adding evidence to support rate cut
Key inflation metrics reflect a more-than-tolerable range of inflation that requires no further tightening of monetary policy. … READ MORE >
Initial jobless claims fell 17,000 last week, easing growth concerns
The impact of Hurricane Beryl in Texas faded faster than expected in U.S. initial jobless claims data, helping push new claims to a four-week low of 233,000 for the week ending Aug. 3 … READ MORE >
Service sector bounces back in July, easing growth concerns
The ISM service index for July rose to positive territory at 51.4 after dropping in June to 48.8, suggesting that some of the concerns over an imminent recession looked overblown. … READ MORE >