Manufacturing grew at a slower rate in back-to-back months as labor shortages continued to hamper production while demand moderated from January's high. The Institute for Supply Management's manufacturing index registered 55.4%, the slowest growth rate since July 2020, and down from 57.1% in March. An ... READ MORE >
Coronavirus
Consumers spent more in March despite rising inflation
American consumers defied rising inflation and market uncertainties in March, continuing to spend more on goods and services as their wages increased and they saved less. Personal spending rose by 0.2% in March on an inflation-adjusted basis, following an upwardly revised 0.1% increase in February. The ... READ MORE >
RSM US Manufacturing Outlook Index: Decelerating growth as tensions mount
The deceleration of manufacturing is now in its ninth month, with the RSM US Manufacturing Outlook Index signaling the potential for further economic moderation from rising prices and slowing demand. A deeper dive into the RSM survey suggests that geopolitical uncertainty and a resurgent ... READ MORE >
Canada’s inflation hits 6.7% as the global oil shock sets in
Inflation in Canada hit 6.7% in March, up from 5.7% in February and the largest year-over-year increase since January 1991 as supply chain disruptions, the war in Ukraine and a reopening economy all had an effect. Excluding gasoline, inflation rose 5.5% from a year ago, the fastest since the index of ... READ MORE >
Inflation marches higher, hitting 8.5% compared to a year ago
Long ago and far away, it was once taught that inflation has long and variable lags. That still probably applies when setting policy, managing a portfolio or making longer-term investments as top-line inflation jumped by 1.2% in March to 8.5% on a year-ago basis, according to government data released ... READ MORE >
Canada’s unemployment rate lowest in nearly five decades
Canada added 73,000 jobs in March, a relatively modest gain that still helped push the unemployment rate down to 5.3%, the lowest since 1976, according to data released by Statistics Canada on Friday. It is not a coincidence that the unemployment rate is so low while inflation is at its highest level ... READ MORE >
Chart of the day: Initial jobless claims lowest in 54 years
New filings for jobless benefits fell to 166,000 last week—the fewest since 1968—as millions of job vacancies remained unfilled, the Labor Department reported on Thursday. That marked the tenth week in a row that the headline number for U.S. initial jobless claims stayed below the pre-pandemic average ... READ MORE >
RSM U.S. Financial Conditions Index: Pricing in the cost of uncertainty
The recent decline in financial conditions eased in recent weeks as the markets moved from pricing in the risk of holding assets at a moment of deepening geopolitical stress to one of resignation. In our estimation, the likelihood of a protracted conflict in Eastern Europe and higher oil prices as ... READ MORE >
Chart of the day: Manufacturing slows amid surge in raw material prices
Manufacturing slowed down in March as input prices surged on the back of the Russian invasion of Ukraine. The headline manufacturing purchasing managers' index was down to 57.1% from 58.6% in February, the lowest since September 2020, the Institute for Supply Management reported on Friday. The index, ... READ MORE >
U.S. March jobs report: American labor market remains red hot
The American labor market remains red hot as the employment-to-population ratio among prime-age workers surged to 80.0% in March, up from 79.5% in February, and total employment increased by 431,000 jobs. The unemployment rate declined to 3.6%, the Bureau of Labor Statistics reported on Friday. The ... READ MORE >