The U.S. economy generated 254,000 jobs in September, exceeding forecasts, and the unemployment rate declined to 4.1% as growth continues to barrel along at or above a 3% pace. When taken out to three digits, the jobless rate was 4.051%, which means it narrowly missed the Federal Reserve’s 4% ... READ MORE >
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5 things to know in life sciences: Week of September 30, 2024
Each week we highlight five things affecting the life sciences industry. Here's the latest. Positive outlook for CDMOs heading into 2025 Despite challenges in the biopharma contracting sector following the COVID-19 boom, 49% of contract development and manufacturing organizations remain ... READ MORE >
Service sector showed fastest growth in nearly two years
The significant increase in service activities in September was an encouraging surprise given the growing concerns over slowing growth. The Institute for Supply Management said on Thursday that its service sector index grew to 54.9 in September from 51.5 in August. That was the fastest pace of growth ... READ MORE >
U.S. port strike will have a modest impact on GDP
The strike by port workers along the East and Gulf coasts of the United States will provide a modest hit to GDP of a little more than 0.1 percentage points per week, or roughly $4.3 billion in lost exports and imports. If sustained, that impact would result in roughly a half percentage point shaved ... READ MORE >
Robust economic revisions defy recession doubts
While many are concerned that the economy is heading toward a recession, new data on spending and the labor market suggest otherwise. It's hard to bet against the American economy when the most recent data has surprised to the upside. Significant revisions to income and gross domestic product from 2020 ... READ MORE >
American outperformance in the post-pandemic global economy
One of the more underdiscussed economic developments following the shocks of the pandemic has been the United States’ outperformance compared to its peers. This success can be traced to bold monetary and fiscal policies put in place that have hardened supply chains, bolstered energy independence and ... READ MORE >
Fed cuts rates to support a soft landing in the economy
The Federal Reserve on Wednesday reduced its policy rate by 50 basis points to a range between 4.75% and 5% to protect full employment and preserve the soft landing it has achieved following a historic price shock. The central bank also laid out a path of monetary policy that suggests additional 25 ... READ MORE >
Canada’s consumer price index hits 2 per cent target
Canada's consumer price index hit the pivotal 2 per cent target in August as inflation continued a downward trajectory, according to Statistics Canada data released on Tuesday. The drop is thanks to lower gasoline prices compared to a year ago. The Bank of Canada will need to continue rate cuts amid ... READ MORE >
U.S. retail sales and industrial production beat expectations
Retail sales in the United States increased by 0.1% in August—much closer to our forecast of a 0.2% increase compared to the market consensus of a 0.2% decline. The stronger-than-expected retail sales data came as industrial production also topped forecasts in August, growing by 0.8% from a month ... READ MORE >
Back-to-school recap: Buying trends set tone for retail holiday season
In our final installment of our three-part blog series, RSM’s senior industry analysts recap back-to-school shopping trends and the impact on consumer businesses. As summer draws to a close, families across the country prepared for the back-to-school season, a critical time for retailers as it set the ... READ MORE >