As Russia’s invasion of Ukraine takes a mounting human and economic toll, it also has the potential to threaten the food supply for millions of people who depend on agricultural commodities from those two countries. … READ MORE >
Coronavirus
Canada’s GDP rises, led by construction and trade
Canada’s gross domestic product in January had a modest increase of 0.2% from December as the effects of the omicron variant paused growth in the services sector. … READ MORE >
A key inflation gauge surged in February, dampening spending
The likelihood of a 50 basis-point rate hike by the Federal Reserve in May increased on Thursday as the government reported that a key inflation gauge continued to surge in February. … READ MORE >
Robust job openings data might accelerate Fed’s rate hikes
Job openings in February came in blazing hot again at 11.3 million, which translated into 1.8 jobs available per unemployed worker, the Bureau of Labor Statistics reported on Tuesday. … READ MORE >
What is the yield curve telling us?
Fears of an imminent recession are somewhat overblown. A closer look at the different components of the yield curve reveals a nuanced picture of the economic outlook … READ MORE >
RSM US Manufacturing Outlook Index: Geopolitical tensions and possibility of a midcycle slowdown
The RSM US Manufacturing Outlook Index increased in March but is showing signs of impending economic damage caused by the Russian invasion of Ukraine. … READ MORE >
Chart of the day: Pending home sales drop again in February
Pending home sales in February dipped for the fourth straight month as depleted inventory and rising mortgage rates dampened sales. … READ MORE >
Durable goods orders decline amid rate hikes and geopolitical uncertainties
Durable goods orders declined for the first time in five months in February because of geopolitical uncertainties and the anticipation of the Federal Reserve’s first interest rate hike since 2018. … READ MORE >
Chart of the day: Initial jobless claims lowest since 1969
New filings for jobless benefits last week dropped to the lowest since 1969 as the tight labor market showed no sign of cooling. … READ MORE >
That ’70s Show: Lessons from the oil shortages of nearly 50 years ago
The doubling of gasoline prices in 1979 and 1980 came during the turmoil that followed Iran’s revolution and the beginning of Iran’s decade-long war with Iraq. … READ MORE >