Disinflation across the economy driven by easing goods and some service costs is good news for beleaguered households that have had to bear the burden of both inflation and interest rate shocks in recent years. The 3% year-ago increase in the consumer price index reported by the Labor ... READ MORE >
Economics
U.S. employment report: Strong gains continue in June
A remarkable run of monthly job gains continued in June as the American economy generated 209,000 new jobs and the unemployment rate fell to 3.6%. For the year, 1.67 million new jobs have been created, an average of more than 278,000 jobs each month, according to data released by the Bureau ... READ MORE >
Strong economic data signals another rate hike in July
A series of economic reports released on Thursday showed a much more resilient economy than expected heading into a crucial period when the Federal Reserve is on the verge of hiking interest rates again. While the data on job openings and jobless claims showed some softening inside the labor ... READ MORE >
Spending and inflation cool in May
Inflation continued to decelerate in May as the Federal Reserve's key pricing metric—the personal consumption expenditures index—grew by only 3.8% from a year ago, the lowest level in more than two years. The Fed's job in restoring price stability, however, is not done. Underlying inflation, ... READ MORE >
June jobs preview: Low unemployment shows a rapidly evolving labor market
The national unemployment rate has been 4% or lower since December 2021. Robust job gains have averaged 314,000 this year through May, and gross domestic product grew by a strong 2% in the first quarter—a reflection of the American economy’s underlying resilience. When the June employment ... READ MORE >
U.S. economy was a lot stronger in first quarter, final GDP estimate shows
The U.S. economy was stronger in the first quarter than previous estimates indicated, the Bureau of Economic Analysis reported on Thursday. The third and final estimate of gross domestic product showed a drastic upward revision to a 2.0% gain from 1.3% on a quarterly and annualized basis. The increase ... READ MORE >
RSM US Manufacturing Outlook Index: Slowdown continues
Manufacturers across much of the United States reported slowing activity in June, according to surveys by regional Federal Reserve banks. The RSM US Manufacturing Outlook Index remained 1.7 standard deviations below normal, the 14th consecutive month of negative values. Our index is based ... READ MORE >
Business equipment spending rises for the second straight month
Durable goods orders came in stronger than expected in May, driven by a sharp increase in aircraft orders from Boeing, the Commerce Department reported on Tuesday. Core orders on capital goods—a proxy for private investment excluding aircraft and defense—rose by 0.7% on the month, also above market ... READ MORE >
The benefits of diversity for middle market companies
Companies large and small are embracing corporate diversity and inclusion campaigns amid increased pressure from investors, customers and employees. After all, bringing diversity to a company’s leadership, its workforce and its suppliers is not only good for society, but also, research has ... READ MORE >
Is the economy headed for a recession? Jobless claims are saying yes.
The United States economy appears to be approaching a recession, as recent jobless claims data—a reliable precursor to the end of a business cycle—portends. Despite the labor market's resilience and persistently low claims compared to historical norms, the steady increases in claims since ... READ MORE >