The Canadian economy is slipping into no-growth territory. In December, Canada lost 23,500 full-time jobs, replaced by a gain of 23,600 part-time positions. Still, the mixed signals that dominated the latter half of last year have not given way to more unanimous signs of a stalling economy. The ... READ MORE >
Economics
December employment report caps an extraordinary year of 2.7 million jobs added
The U.S. economy added 216,000 jobs in December, closing out an extraordinary year that saw an increase of 2.7 million in total employment and a record 167 million Americans employed. During the past year, the unemployment rate averaged 3.6% and closed the year at 3.7% in the best year for labor ... READ MORE >
U.S. income and spending see strong gains as year nears an end
This past year was a remarkable one in the American economy as inflation eased, employment gains remained rock solid and household consumption advanced at a robust pace. November’s personal income and spending report, released by the Commerce Department on Friday, showed a 0.4% monthly increase in ... READ MORE >
Consumer confidence ends the year on a positive note
Consumer confidence rose in December to the highest level in five months as sentiment on both the current and future situations improved markedly. The data from the Conference Board released on Wednesday adds to a string of economic data in recent months that supports further sustained expansion in the ... READ MORE >
Inflation in Canada stayed steady at 3.1%
Canada’s inflation in November failed to make progress, staying steady at 3.1%. But core inflation apart from housing and food continued to trend lower and came in around 3.5%, markedly lower than earlier this year. Food and housing remain primary drivers of inflation. On a year-over-year basis, ... READ MORE >
U.S. retail sales grew by more than expected in November
Retail sales surprised to the upside in November as American consumers continued their robust spending. The gloomy holiday spending forecasts now seem to be out of the conversation. Instead, our estimate of billions in excess savings left on American households' balance sheets looks much more on point ... READ MORE >
Fed signals end of rate hikes and projects cuts in 2024
The Federal Reserve signaled at its meeting on Wednesday that it is done raising its policy rate and is poised to reduce it by 75 basis points next year, with more cuts after that. The Fed also reduced its inflation forecast for next year to 2.8% from 3.3%, and to 2.4% from 2.5% for 2025, which ... READ MORE >
U.S. November Consumer Price Index: Inflation continues to abate
Inflation continued to abate in November as energy prices declined by 2.3% and gasoline prices dropped by 6%, resulting in a 0.1% monthly advance in the Consumer Price Index and a 3.1% annual increase. Over the past three months, the decline in top-line inflation implies that the overall rate is ... READ MORE >
America’s real economy in 2024: A webinar from RSM US and the U.S. Chamber of Commerce
Interest rates, inflation, access to capital, the regulatory environment and the rapidly changing global economy are all having a distinct impact on the middle market and America's real economy. How can senior executives at middle market businesses make sense of it all? Join RSM Chief Economist Joe ... READ MORE >
U.S. November jobs report: This is what a soft landing looks like
This is what a soft landing looks like. Through November this year, the American economy has produced nearly 2.6 million jobs as inflation has eased from 6.4% to 3.2%, all while the unemployment rate has remained below 4%. This is not a recession but instead is a sustained expansion amid labor ... READ MORE >