Job openings cooled in back-to-back months to 8.86 million in January with December’s figure revised down to 8.89 million from 9.03 million previously, according to the Bureau of Labor Statistics. … READ MORE >
Economics
Service sector continues to grow in February
The service sector continued to grow in February for the 14th straight month, according to the Institute for Supply Management on Tuesday. … READ MORE >
Canadian economy grew by 1%, ending 2023 on a positive note
The Canadian economy seems to have bottomed out and be on the rebound, growing by 0.2% in the fourth quarter of last year and by 1% on an annualized basis, exceeding expectations. … READ MORE >
RSM US Manufacturing Outlook Index: Soft sentiment in an uneven recovery
The slowdown in manufacturing continued into February, but at a slower pace, according to surveys conducted by regional Federal Reserve banks. … READ MORE >
January inflation and spending data implies more noise than trend
The Federal Reserve’s closely watched measure of inflation, the personal consumption expenditures index, continued to show strength in January, rising by 0.3% on the month and by 2.4% from a year ago. … READ MORE >
How real is the wealth effect in a bull market?
Using a back-of-the-envelope calculation, we estimate that the sharp rebound in equities last year contributed to an increase of roughly $900 billion in households’ stock wealth, or $288 billion in consumer spending. … READ MORE >
Softer economic data reaffirms prospect of a soft landing
Softer economic data reaffirms we are inching closer to a soft landing
… READ MORE >
What would Keynes do? Russian assets and funding the war in Ukraine
One way to finance the Ukraine war: Use Russia’s foreign exchange reserves as collateral to raise private sector debt. John Maynard Keynes just might have approved. … READ MORE >
New home sales grew more slowly in January amid elevated mortgage rates
Sales of new homes grew 1.5% in January, much slower than the 7.2% increase in December, most likely because of elevated mortgage rates. … READ MORE >
Initial jobless claims fall to lowest in a month
New claims fell by 12,000 to 201,000 for the week ending Feb. 17, according to the Labor Department’s data on Thursday. … READ MORE >