Following Tuesday’s announcement of the coordinated release of strategic oil reserves, policymakers and investors are focusing on the indirect—or some would say the actual— target of such an action: consumer retail gasoline prices. Based on the relationship between retail gasoline costs and wholesale ... READ MORE >
Coronavirus
Holiday inventory problem: Some firms are better prepared than others
As supply chain bottlenecks continue to plague the economy, hampering output and raising prices, many analysts have warned that there will not be enough goods in stock for the holiday shopping season. Our new RSM US Supply Chain Index also reached a two-decade low in October, pointing to a problem ... READ MORE >
What the global coordinated release of petroleum reserves means
The politics and policy of global inflation will begin to shape markets as major global economies push back in direct and indirect ways on the surging price of oil. Recent jawboning of the oil market by the Biden administration and its global allies has resulted in a roughly 9% decline in the price ... READ MORE >
Introducing the RSM Canada Supply Chain Index
The reports of flooding out of British Columbia recently were unsettling: Rising water had cut off highways and rail lines, stranding consumers and businesses, and led officials to declare a state of emergency. The severe flooding only compounded the disruptions to the delivery of goods and ... READ MORE >
Chart of the day: Existing home sales inched up in October
Sales of existing homes inched up by 0.8% in October to 6.34 million, carrying some of the momentum in September, when sales jumped by a significant 7.0%, according to data released by the National Association of Realtors on Monday. Despite supply constraints and elevated prices, the small increase was ... READ MORE >
Powell reappointed to lead the Fed, with Brainard elevated to vice chairwoman
The Biden administration’s widely expected reappointment of Jerome Powell as chairman of the Federal Reserve on Monday is a strong step toward providing stability and clarity for financial markets at a time when the central bank is under pressure to accelerate efforts to address inflation. In our ... READ MORE >
RSM US Financial Conditions Index: Setting the stage for sustained growth
Manufacturers are expecting increased activity in the coming months, surveys by the regional Federal Reserve banks suggest. But perhaps more important in terms of productivity and global competitiveness, those manufacturers say they plan to increase capital expenditures and spending on ... READ MORE >
Canadian retail sales fall as chip shortage hurts auto sales
Retail sales in Canada decreased by 0.6% in September, to CA$56.6 billion, as a severe shortage of semiconductor chips slowed production in the auto industry, according to data released by Statistics Canada on Friday. The drop was almost entirely driven by sales of motor vehicles and parts, which ... READ MORE >
Looking ahead to 2022 and what to expect in the economy
Nearly two years into the pandemic, there are signs that the worst of a once-in-a-century shock to the global economy is beginning to fade. As the economy approaches a full reopening, we expect growth in 2022 will exceed 4%, the unemployment rate will fall to 3.5% and job growth will average ... READ MORE >
Chart of the day: Decline in initial jobless claims slows
New filings for jobless claims showed little change for the week ending Nov. 13 with a decrease of 1,000 from the prior week to 268,000, according to data from the Labor Department released on Tuesday. The steady weekly declines in new claims in early October have slowed significantly in the first two ... READ MORE >