Industrial production, housing starts and permits in July have set the tone for a robust third quarter, as GDP growth is expected to be stronger than the long-run level of 1.8%. Industrial production rose 1% on the month, while housing starts and permits rose 3.9% and 0.1%, respectively, according to ... READ MORE >
Industrials
Fed survey of loan officers shows rising impact of higher interest rates
The Federal Reserve’s latest survey of bank loan officers confirms that the dampening effect of monetary-policy tightening on borrowing and lending continued in the second quarter. This implies that the residual impact of interest rate increases and the banking turmoil that engulfed local and regional ... READ MORE >
RSM US Manufacturing Outlook Index: A continued decline in July
The RSM US Manufacturing Outlook Index moved sideways in July as manufacturing firms in four of the five Federal Reserve regions again reported outright declines in activity as well as declines in new orders. Only the New York region reported increased activity and a rise in new orders, and ... READ MORE >
New data points to further economic slowdown and disinflation
Economic data released on Tuesday suggested that the economy is continuing to slow as the labor market loosened, price gains eased and manufacturing contracted in June and July. Indicators came in lower than expected, implying that while the economy has remained resilient, it has lost some ... READ MORE >
Business orders for equipment rise despite higher borrowing costs
Business investment on productivity-enhancing equipment continues to be one of the brightest spots across the U.S. economy. Encouraged by spending on infrastructure and manufacturing, along with the promise of artificial intelligence, businesses were not afraid to spend more on capital goods, ... READ MORE >
Surging manufacturing construction: Industrial policy and U.S. semiconductors
For the past half century, the political economy of the United States has rested upon a foundation of free markets and trade, and a federal government that refrains from picking winners and losers when it comes to domestic investment. The exceptions to that rule have revolved around national security ... READ MORE >
Mixed signals from retail sales and industrial production data ahead of Fed meeting
Underlying retail sales showed a strong increase in June while industrial production posted another sharp drop, giving mixed signals on the health of the economy heading toward a pivotal period for rate hike decisions. Both data points, released by the government on Tuesday, are key factors ... READ MORE >
Manufacturing sector gained jobs in June, labor shortage remained
The manufacturing sector added 7,000 jobs in June, following an adjusted net loss of 3,000 jobs in May, according to the latest jobs report released Friday by the Bureau of Labor Statistics. Overall, the sector employed 12.9 million workers last month. Even with the job growth in June, the ... READ MORE >
This week in energy: Summer brings the heat; clean energy investment on the rise
Summer heat has hit hard in many parts of the United States, making modern conveniences like electricity essential in our daily lives. In North America, nearly 400 million people depend on electricity each day. As demand increases, supply shortages become a challenge across the United States and beyond. A ... 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 >