The notion of the BRIC economies—Brazil, Russia, India and China—putting together an alternative to the U.S. dollar is neither new nor has it been effective. The idea was floated over the weekend in a threat by President-elect Donald Trump to place 100% tariffs on the BRIC economies if they move to ... READ MORE >
USA
Facility services firms focus on tech and sustainability in Q3 earnings calls
The facility services industry is undergoing significant transformation, driven by innovation, sustainability and strategic growth initiatives. On third-quarter earnings calls, ABM Industries, Sodexo, Aramark and Cintas Corp. discussed how they are leveraging these drivers to optimize performance and meet ... READ MORE >
Inflation proving stubborn as major policy changes await
A robust 0.4% increase in personal spending and a 0.6% increase in personal income in October underscore just how strong the economy and households have been ahead of the critical holiday spending season. But at the same time, the strong spending and income data, released on Wednesday by the Commerce ... READ MORE >
Durable goods orders were mixed in October as Q3 GDP remained strong
Business spending on equipment was mixed in October, likely because of uncertainty over the direction of fiscal and monetary policies, the Commerce Department reported on Wednesday. But that is likely to increase in the months ahead as those uncertainties ease. And with more domestic growth as the base ... READ MORE >
Initial jobless claims remain stable at 213,000
First-time jobless claims remained remarkably stable at 213,000 as continuing claims increased to 1.9 million for the week ending Nov. 23. Our preferred metric of first-time claims, the 13-week moving average, declined to 226,200 as the distortions of the two recent hurricanes eased, according to the ... READ MORE >
Trump tariff losers index: Manufacturing, metals, petroleum and many more
The declaration by President-elect Trump that he intends to place a 10% tariff on all imports from China and a 25% tariff on all imports from Canada and Mexico is another sign that firms, investors and policymakers should prepare for more supply chain stress. In particular, automakers and their ... READ MORE >
U.S. consumer confidence improves to highest level in more than a year
Consumer confidence edged up in November to its highest level in more than a year, driven by improved sentiment about both the current economic situation and future expectations. The consumer confidence index rose to 111.7 from an upwardly revised 109.6, the Conference Board reported on Tuesday. The ... READ MORE >
China’s economic challenge: Elevated external debt and its dirty float
In the year ahead, trade tensions between the United States and China are likely to spill over into a trade skirmish at best and trade conflict at worst. A Chinese economy caught in a debt and deleveraging trap is likely to face the additional strain of a sharp increase in tariffs on goods sold into ... READ MORE >
Post-election outlook: A webinar from RSM US and U.S. Chamber of Commerce
With the results of the election now in, investors and firm managers are looking ahead to the policies of a second Trump administration and a changed Congress. Join RSM US Chief Economist Joe Brusuelas and U.S. Chamber of Commerce Executive Vice President Neil Bradley as they discuss the economic ... READ MORE >
Capital flows into the U.S. to challenge global economy
The U.S. dollar on a trade-weighted basis has increased by 7.53% over the past year because of growth and interest rate differentials between the U.S. and its major trade partners. The dollar is set to soar in the next year amid an expansionary fiscal policy and a new tariff regime. The combination ... READ MORE >