Policymakers, firm managers and investors should anticipate a significant fiscal narrowing for both public and private actors in the post-pandemic period. … READ MORE >
inflation
FOMC preview: Policy rate to increase by 50 basis points
Such an increase would follow a series of 75 basis-point increases and would lift the Fed’s policy rate to a range between 4.25% and 4.5%. … READ MORE >
Producer price inflation hotter than expected ahead of Fed’s meeting
The producer price index for final demand rose by 0.3% in November and by 7.4% year-over-year, the Bureau of Labor Statistics reported on Friday. … READ MORE >
U.S. service sector grows, adding pressure on Fed
The Institute for Supply Management’s service index rose in November as business activities increased on the month. … READ MORE >
U.S. jobs report: Rising wages pose a problem as hiring remains strong
average hourly earnings increased by 5.1% on a year-ago basis and by 0.6% on the month in addition to being revised higher in October. … READ MORE >
Manufacturing sector nears contraction
The ISM’s manufacturing index slowed to 49%, barely above the contraction threshold at 48.7%. It was the third straight decline as demand for manufactured goods stalled. … READ MORE >
Consumer confidence drops as outlook darkens
The Conference Board’s confidence index dipped to 100.2 in November from 102.2 in the prior month, significantly below the pre-pandemic level at 130. … READ MORE >
Financial conditions update: Rising risks and tightening markets
Despite a strong bounce in U.S. financial markets following better-than-anticipated inflation data for October, financial conditions remain tight. … READ MORE >
Canada inflation remains elevated amid high gas prices
Canada’s consumer price index in October rose by 6.9% on a year-over-year basis, matching September’s increase. … READ MORE >
Retail sales surge, easing recession fears for now
Retail sales data surged in October as holiday shopping started early for the second year in a row. … READ MORE >