The ADP April estimate of private sector hiring released on Wednesday pointed to strong hiring by middle market businesses amid robust service sector and goods producing sector hiring. … READ MORE >
Economics
April U.S. employment preview: another solid month of labor market growth
We expect the U.S. labor market to expand by 207,000 jobs in April, on the back of strong expansion in construction, trade, transport and service sector hiring, with the unemployment rate unchanged at 3.8 percent. … READ MORE >
FOMC preview: Real economy in focus at Fed
The Federal Reserve will keep its policy rate unchanged at its May 1 meeting this week. The committee will also likely update its statement to reflect recent economic data releases and reiterate a focus on inflation that continues to run below the central bank’s 2 percent target. … READ MORE >
Tech is taking hold in Canada–The Real Economy, Canada has the story
Either by federal and local government promotion of technology or the invisible hand of capitalism, technology has taken hold in cities throughout Canada. The knock-on benefits to local economies as tech industries establish footholds include: the revitalization of city life; increased tax revenue that can be applied to improvements in infrastructure; increased demand for better education and cultural facilities; and demographic shifts to complement the existing labor force. … READ MORE >
RSM Brexit Stress Index shows slightly more pressure ahead of elections
The RSM Brexit Stress Index finished the week at -0.01 from -0.16 a week earlier, showing a slight increase in stress as the markets corrected after a holiday lull. … READ MORE >
U.S. Q1 ’19 GDP: Strong topline 3.2 percent growth, real private demand at 1.3 percent
U.S. economic output for the first three months of 2019 expanded at a strong 3.2 percent pace, despite a slowdown in household consumption to 1.2 percent, headwinds from the external sector, a lengthy government shutdown and a rough winter. … READ MORE >
Wholesale gasoline prices point to 8% rise in retail costs in time for summer holidays
U.S. consumers are likely to feel a modest jolt in commuting costs, as wholesale gasoline futures now point to an 8 percent rise in retail gasoline prices in coming days, with risk of a much more pronounced increase to follow.The surge is due to non-market derived pricing action caused by a recent policy shift from Washington on waivers around imports of Iranian oil. … READ MORE >
First quarter GDP will show moderate growth, but with an asterisk
U.S. first quarter gross domestic product likely expanded 2.6 percent, a generous pace of growth given significant headwinds from a slowing global economy, the lengthy government shutdown and a rough winter. But put an asterisk next to it, as the first-quarter expansion was driven by unsustainable inventory accumulation, a temporary … … READ MORE >
RSM offers a new index to measure Canadian financial conditions
RSM Canada has developed a quarterly index of Canadian financial conditions, using marketassessments of risk and accommodation as a proxy for lending and borrowing attitudes. … READ MORE >
RSM Brexit Stress Index eases ahead of holiday weekend
The RSM Brexit Stress Index finished lower for the week at -0.16 from -0.09 a week earlier, following a recent extension for Britain’s imminent departure from the European Union. … READ MORE >