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 >
pandemic
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 >
Chart of the day: Housing starts lag as permits rise
Mixed results came from the housing sector in October as housing starts inched down by 0.7% while building permits rose sharply by 4.0%, according to data from the Census Bureau on Wednesday. Because both are proxies for the future supply of houses, we continue to see that supply has somewhat ... READ MORE >
Chart of the day: Industrial production climbed back in October
Industrial production rebounded in October with a gain of 1.6% after a significant slowdown in September because of Hurricane Ida, pointing to healthy growth for the rest of the year. Output gains were recorded in every category from manufacturing to utilities to mining as constraints in energy and ... READ MORE >
Housing starts in Canada dropped for the fifth consecutive month
Housing starts in Canada dropped for the fifth consecutive month to 236,554 in October, down by 5.3% from September as builders grappled with shortages of materials and workers, according to data released by Canada Mortgage and Housing Corporation on Tuesday. Although the figure still stands above ... READ MORE >
Retail sales beat expectations in a sign of a strong holiday season
Retail sales rose by 1.7% in October as consumers, flush with cash, signaled a strong start to the final quarter of the year, according to a report from the U.S. Census Bureau on Tuesday. The increase beat an upwardly revised 0.8% in September and was the third month in a row that retail sales ... READ MORE >
Canadian business: Preparing for the new normal
For small and midsized business owners, it seems like déjà vu all over again. After the pandemic hit in March 2020, business owners were forced to rethink and, in some cases, reinvent their service delivery model through e-commerce. With the coming and going of the second and third waves of the ... READ MORE >
Introducing the RSM US Supply Chain Index: Sustained growth depends on retooling
The infrastructure that supports the domestic and global economies has experienced a significant stress test over the past few years. The twin policy shocks caused by the 2017-2020 trade war and the decision to effectively shut down elements of the global economy during the pandemic have resulted ... READ MORE >
Despite Zillow’s retreat, iBuyers show promise
Zillow’s decision to pull the plug on Zillow Offers, its tech-powered business of buying and selling homes, came as a surprise amid the still-hot housing market and prompted a question: Is the business model flawed? As the third-quarter earnings reports from two of Zillow's competitors showed, it's too ... READ MORE >