Durable goods orders fell in September for the second month in a row, driven largely by drops in Boeing orders. According to the Commerce Department, orders for goods that last three years or more fell 0.8% on a monthly basis, following a downward revision of another 0.8% drop in August. However, our ... READ MORE >
USA
October jobs report will be distorted by hurricane and strike
We expect that Hurricane Helene and labor action at Boeing will distort the jobs data for October. The employment report, which will be released on Nov. 1, will most likely be the first of two reports that will understate the true condition of the American labor market. Read more of RSM's insights ... READ MORE >
Initial jobless claims fall despite hurricane’s impact
The fall in initial jobless claims last week aligns with a strong labor market, despite the recent impact of Hurricane Milton. Total initial claims dropped to 227,000 from 242,000 for the week ending Oct. 18, the Labor Department reported on Thursday. Florida’s new filings for claims spiked last week, ... READ MORE >
How tax-exempt hospitals can prepare for increased IRS scrutiny
Nonprofit hospitals are facing heightened scrutiny over their tax-exempt status as regulators and lawmakers consider whether the benefits these hospitals provide to their communities justify the tax exemptions they receive. Nonprofit hospitals received an estimated $28 billion in federal tax exemptions ... READ MORE >
5 things to know in life sciences: Week of October 14, 2024
Each week we highlight five things affecting the life sciences industry. Here's the latest. German company announces positive results for a celiac disease trial Topas Therapeutics, a German biotech company, reported positive phase 2a results for its celiac disease candidate, showing a good safety ... READ MORE >
Housing starts and permits ease in September
Housing starts and building permits pulled back in September after a red-hot August, suggesting that the road to a housing market rebound won’t be smooth, even as interest rates drop. The market remains demand-driven, with the current and future supply of new homes staying below the threshold for a ... READ MORE >
September retail sales top forecasts
American consumers remained upbeat about the economy in September as spending at retail stores and online exceeded consensus forecasts. Retail sales for all items increased by 0.4% while the control group grew by 0.7% in September. Our forecasts had called for a 0.5% increase for both numbers, so the ... READ MORE >
American outperformance in the global economy
One of the more underdiscussed economic developments following the shocks of the pandemic has been the outperformance of the United States economy compared with its G-7 peers. Over the past eight quarters, the American economy has grown at a 2.9% annualized pace and is on track to grow at or above ... READ MORE >
5 things to know in life sciences: Week of October 7, 2024
Each week we highlight five things affecting the life sciences industry. Here's the latest. FDA approves at-home COVID/flu combo test for fall season The U.S. Food and Drug Administration has approved an at-home test by Healgen that detects both COVID-19 and influenza A and B, marking a significant ... READ MORE >
Producer price index implies further disinflation
The lower-than-expected producer inflation report released on Friday should offset some of the upside surprises from the consumer inflation data released on Thursday. According to the Bureau of Labor Statistics, final demand inflation was unchanged in September, while the core reading grew more slowly ... READ MORE >