Three of the five regional Federal Reserve surveys reported increased activity during the month, while the Philadelphia and Kansas City regions reported significant contractions. … READ MORE >
Industrials
Business equipment spending rebounds
Business orders for equipment rebounded in August after falling for two straight months, an encouraging sign for American businesses. … READ MORE >
Potential impact of UAW strike would not be sufficient to cause recession
Our back-of-the-envelope estimate indicates that the economy would suffer a modest 0.1% drag during the current quarter should the action last for a month. … READ MORE >
Contraction in manufacturing eased in August
The manufacturing purchasing managers’ index rose to 47.6 in August, up from 46.4, but remained under the 48.7 that is considered neither an expansion or contraction. … READ MORE >
RSM US Manufacturing Outlook Index: Signs of a bottom
Only two of the five manufacturing centers surveyed by regional Federal Reserve banks, New York and Dallas, reported substantial declines Philadelphia and Kansas City reported substantial increases, while Richmond had a slight increase. … READ MORE >
Business investment loses momentum in July
Orders for capital goods that exclude defense and aircraft—a proxy for future business spending—rose by 0.1% on the month. That followed a downward revision in June that reduced a 0.1% gain to a 0.4% decline. … READ MORE >
Industrial production and housing rebound in July, affirming GDP growth outlook
Industrial production, housing starts and permits rebounded in July, affirming RSM’s third-quarter GDP growth outlook. … READ MORE >
Fed survey of loan officers shows rising impact of higher interest rates
The Federal Reserve’s latest survey of bank lending officers confirms that the dampening effect of monetary-policy tightening on borrowing and lending continued in the second quarter. … READ MORE >
RSM US Manufacturing Outlook Index: A continued decline in July
The RSM US Manufacturing Outlook Index slipped back to 1.8 standard deviations below normal, the 15th consecutive month of negative values. … READ MORE >
New data points to further economic slowdown and disinflation
Job openings fell to 9.58 million in June, the lowest since April 2021, according to government data released on Tuesday. … READ MORE >