Estimates of logistics data in the RSM US Supply Chain Index, as seen in the index’s Nowcast, point to improved conditions in the U.S. supply chain heading into the end of the year. The demand-pull inflation—rising pricing pressure spurred by a shortage of supplies—that has altered at the Federal ... READ MORE >
Delta variant
Chart of the day: Consumer sentiment improves slightly amid inflation
Consumer sentiment improved slightly in December, increasing from a decade low in November as concerns about gasoline and energy prices eased somewhat, according to the University of Michigan's consumer survey released on Friday. The headline consumer sentiment index rose to 70.4 on the month from 67.4 ... READ MORE >
Initial jobless claims fall to 52-year low amid labor shortages
New filings for jobless benefits dropped to the lowest level since 1969 last week as robust labor demand continued to leave businesses with no choice but to hold on to their workers. The claims fell to 184,000 for the week ending Dec. 4, down from 227,000 in the previous week, according to Labor ... READ MORE >
Chart of the day: Job openings rise to second highest on record as quit rate slowed
The demand for labor stayed strong in October as concerns over the delta variant faded and the economy continued to bounce back from the pandemic. Job openings, a proxy for labor demand, reached 11.03 million, exceeding 11 million for the second time on record, slightly lower than the all-time high set ... READ MORE >
Bank of Canada decision: Central bankers set the stage for 2022 rate hikes
The Bank of Canada kept its policy rate at 0.25% at its December meeting on Wednesday as it prepares the public and market participants for the normalization of monetary policy and the first increase in interest rates next year. The central bank’s policy rate decision and forecast, on the back of a ... READ MORE >
Chart of the day: U.S. consumer confidence inches down
Consumer confidence inched down in November to 109.5, the lowest since March, as inflation continued to take its toll, according to a report from the Conference Board on Tuesday. Now, with the emergence of the omicron variant of the coronavirus, which is not reflected in the November data, consumer ... READ MORE >
RSM US Financial Conditions Index: Setting the stage for sustained growth
Manufacturers are expecting increased activity in the coming months, surveys by the regional Federal Reserve banks suggest. But perhaps more important in terms of productivity and global competitiveness, those manufacturers say they plan to increase capital expenditures and spending on ... READ MORE >
Looking ahead to 2022 and what to expect in the economy
Nearly two years into the pandemic, there are signs that the worst of a once-in-a-century shock to the global economy is beginning to fade. As the economy approaches a full reopening, we expect growth in 2022 will exceed 4%, the unemployment rate will fall to 3.5% and job growth will average ... READ MORE >
Chart of the day: Decline in initial jobless claims slows
New filings for jobless claims showed little change for the week ending Nov. 13 with a decrease of 1,000 from the prior week to 268,000, according to data from the Labor Department released on Tuesday. The steady weekly declines in new claims in early October have slowed significantly in the first two ... READ MORE >
Inflation in Canada hits 4.7% amid soaring gas prices
October inflation in Canada climbed to 4.7%, the highest since February 2003 and up from 4.4% in September, primarily because of skyrocketing gasoline prices, according Consumer Price Index data released by Statistics Canada on Wednesday. Excluding food and energy, inflation stood at a more ... READ MORE >