RSM Canada on Wednesday released the second issue of The Real Economy, Canada. The publication explores the impact of positive economic trends such as Canada’s burgeoning digital economy against the backdrop of a global slowdown in growth, North American trade disruptions and other stresses to the economy. … READ MORE >
Economics
Central banks brace for economic slowdown as manufacturing reflects contraction
As global central banks, including the U.S. Federal Reserve, prepare to proactively stave off an economic slowdown, we turn our attention to the primary rationale behind the push to alter monetary policy–the global economic downturn in manufacturing and its ripple effect on middle market suppliers. … READ MORE >
The RSM Brexit Stress Index: Global growth and the bond market
The RSM Brexit Stress Index moved higher this week, as the currency, equity and bond markets reacted to the political posturing around a hard exit from Europe’s common market and the impact of what looks to be a slowdown in global growth. … READ MORE >
Retail sales boom in June, industrial production flat
Today’s data comes close to wrapping up data collection for the second quarter of 2019, and imply that the consumer sector has robustly rebounded from a weak first three months of the year, while overall industrial production remains tepid at best. … READ MORE >
The RSM Brexit Stress Index: Adding to the list of unintended consequences
The RSM Brexit Stress Index moved higher again this week, as the market processed conflicting central banking trends: global equities pushed higher on an expected U.S. rate cut by the Federal Reserve and a quick turnaround in the U.K. bond market as the slim probability of a base rate cut by the Bank of England grew even smaller. … READ MORE >
Jobs rebound likely to fade in second half of year
The U.S. economy generated 224,000 jobs in June driven by solid increases in education and health, business services, good producing and construction jobs. … READ MORE >
Tug-of-(Trade)-War: RSM Brexit Stress Index eases for week
The RSM Brexit Stress Index eased this week, as global equity markets pushed higher on news of a rapprochement among the parties in the U.S.-China trade war and anticipation of an interest rate cut by the Federal Reserve. … READ MORE >
June US employment preview–slower pace of growth expected for Q2
We expect the labor market will reflect a slower pace of growth through the second quarter, resulting in a below-consensus estimate (165,000) net increase in total employment of 147,000 jobs and an increase in the unemployment rate to 3.7%. In our estimation, the primary narrative emerging from the June report will be sustained deceleration of hiring in the household survey… … READ MORE >
The RSM Brexit Stress Index: Lower highs and lower lows
The RSM Brexit Stress Index closed slightly higher this week, as political talk centers on whether Boris Johnson, the Conservative Party front runner favored to take over as U.K. Prime Minister, can make good on his promise of removing Britain from the European Union with or without a deal. … READ MORE >
RSM Deputy Chief Economist Kevin Depew decodes tariffs, tech changes and labor in this ACG podcast
Kevin Depew, RSM deputy chief economist and industry eminence program leader, discusses the firm’s proprietary second quarter Middle Market Business Index results with Kathryn Mulligan, editor-in-chief of ACG Global’s Middle Market Growth magazine, in a podcast taped on June 19. … READ MORE >