The manufacturing sector contracted for the second month in a row in November as lower overall demand and persistent labor shortages took their toll, the Institute for Supply Management reported on Friday. … READ MORE >
Tuan Nguyen
Durable goods and jobless claims offer a mixed picture of the economy
Overall orders for durable goods fell by 5.4% in October, led by a 49.6% decline in nondefense aircraft because of a drop in Boeing orders. … READ MORE >
Industrial production posts biggest drop this year amid strikes
Production of motor and vehicle parts fell by 10% in October, marking the biggest drop since the beginning of the pandemic. … READ MORE >
Retail sales and producer inflation fall in October
The data for October’s retail sales and producer inflation has raised the probability of a soft landing by a significant margin. … READ MORE >
Consumer sentiment falls to lowest level since May
The University of Michigan’s consumer sentiment index dropped unexpectedly in November to the lowest level since May as inflation concerns mounted. … READ MORE >
Initial jobless claims ease amid broader signs of a softening labor market
Continuing claims—a measure of longer-term disruption in the labor market—increased for the seventh straight week to 1.83 million, near the recent high in April. … READ MORE >
Credit sentiment improves in Q3, signaling the worst might be over
No surprise came from the third-quarter Senior Loan Officer Opinion Survey on Monday as most major indicators pointed to improvement in lending sentiment. The improvement was likely a direct result of the Federal Reserve’s rate pause in September as the central bank began to rebalance its policy to a less hawkish stance. … READ MORE >
Initial jobless claims edge up as labor market remains strong
New claims for jobless benefits rose to 217,000 last week, yet they remained below the pre-pandemic level. … READ MORE >
Job openings top estimates amid sharp drop in manufacturing
Job openings edged up in September as labor demand remained strong while the manufacturing sector declined at a faster rate than expected. … READ MORE >
Fed’s key wage inflation metric tops forecast
The employment cost index for the third quarter showed that labor costs rose 1.1% higher than the forecast of 1.0% and were higher than the pre-pandemic average of 0.6%. … READ MORE >