The RSM Canada Supply Chain Index in February continued to show stress in the economy, measuring 1.89 standard deviation below normal and little changed from January. … READ MORE >
Coronavirus
Chart of the day: New home sales drop amid rising rates
New home sales posted the second consecutive month of decline in February as elevated prices and rising mortgage rates deterred buyers. … READ MORE >
RSM US Supply Chain Index posted the best result in a year
As much of the world prepares for a post-COVID phase, we believe that the worst of domestic supply chain issues are in the rear-view mirror. Yet rising infections in some countries, along with geopolitical tensions, could delay a full return to normal. … READ MORE >
Initial jobless claims fall below pre-pandemic level while housing starts improve
New filings for jobless claims, a proxy for job layoffs, fell below the pre-pandemic level once again last week to 214,000, according to the Department of Labor. That marked a 15,000 drop from the prior week and a continuing testament to how tight the labor market has been. … READ MORE >
FOMC’s policy decision: Rate hike, balance sheet reduction, revise down forecast, repeat
Policy normalization at the Federal Reserve took a giant step forward on Wednesday as the Federal Open Market Committee hiked the federal funds rate by 25 basis points while slashing its growth forecast and increasing its estimate of inflation. … READ MORE >
Canada’s inflation hits 5.7% in a warmup for what’s ahead
Canada’s inflation rate hit 5.7% year over year in February, up from 5.1% in January, as price increases continued to broaden across categories. … READ MORE >
U.S. retail sales lag inflation in February amid rising energy prices
Retail sales growth fell behind inflation increases in February, posting a weak 0.3% increase, as growth slowed down in most categories except gasoline stations. … READ MORE >
Chart of the day: Producer prices fall, but not for long
Producer prices increased by 0.8% on the month, down from a 1.2% increase in January while registering a 10% rise in back-to-back months compared to a year ago, the Bureau of Labor Statistics reported on Tuesday. … READ MORE >
Life during wartime: Inflation, price controls and economic conflict
Today, with inflation at a 40-year high and a policy rate pinned to the zero boundary, policymakers face significant constraints as they try to find ways to mitigate rising costs on American households. … READ MORE >
Chart of the day: Consumer sentiment slides amid energy shock
Consumer sentiment slid further in March, falling by 3.1 points from February amid spikes in oil and gasoline prices. The University of Michigan sentiment gauge dropped to 59.7, an 11-year low, according to data released Friday. … READ MORE >