Despite a sharp drop in energy prices, August’s personal consumption expenditures price index—the Federal Reserve’s key gauge for inflation—rose by 0.3% after falling by 0.1% in July. The price increases ate into spending, bringing spending growth from a 0.4% increase in dollar terms to only a 0.1% gain on inflation-adjusted … … READ MORE >
Inflation
New jobless claims fall to lowest level since April amid tight labor market
New claims for unemployment benefits fell by a sharp 16,000 last week to 193,000 on a seasonally adjusted basis, the fewest since April. … READ MORE >
Pending home sales fall to their lowest level since April 2020
Pending home sales in the United States fell by 2% in August, the third straight monthly decline amid a steep rise in mortgage rates. … READ MORE >
Confusion has its cost: RSM UK Financial Conditions Index shows growing drag
Financial conditions are tightening noticeably as credit spreads widen, all of which will constrain overall economic activity. … READ MORE >
Consumer confidence and core investment grow despite recession fear
The Conference Board’s consumer confidence index rose above market’s expectation to 108 in September, the highest since May. … READ MORE >
RSM US Supply Chain Index back to normal for second straight month
The RSM US Supply Chain Index improved to 0.19 standard deviations above neutral in August as inventories and industrial capacity utilization continued to rebound. … READ MORE >
Amid global economic turmoil, stress grips fixed-income markets
Fixed-income markets are signaling a shift in perceptions of financial stability and raising a caution flag for investors. … READ MORE >
Canada’s supply chain healthy as demand slows
The RSM Canada Supply Chain Index reached 2.31 in August, one of the highest readings since 2000, thanks to improvements across delivery time, prices, and inventory levels, signaling sufficient health of the supply chain. … READ MORE >
Japan intervenes in the currency market
With the yen in freefall, Japan on Thursday took the unusual step of intervening in currency markets to prop up its value. … READ MORE >
Fed raises its policy rate by 75 basis points and sees more increases
The Federal Reserve raised its policy rate by 75 basis points on Wednesday, the third straight increase of that size and a sign that it is continuing its aggressive push to tame inflation. … READ MORE >