Economic News from RSM
Inflation stabilized further in July as the consumer price index data met expectations, the Bureau of Labor Statistics reported on Thursday.
The slight uptick in annual inflation to 3.2% from 3.0% could be dismissed due to the base year effect, as inflation has come down fast from a peak in June last year. … READ MORE >
The Institute for Supply Management’s index for services inched down to 52.7 in July from 53.9 in June, indicating expansion for the seventh straight month. … READ MORE >
Job openings fell to 9.58 million in June, the lowest since April 2021, according to government data released on Tuesday. … READ MORE >
New orders for core capital goods, a proxy for business investment, came in higher than forecast in June, rising by 0.2%, the Commerce Department reported on Thursday. … READ MORE >
New residential starts fell by 8% on the month, while permits for new buildings declined by 3.7%, the Commerce Department reported on Wednesday. … READ MORE >
Consumer sentiment jumped to its highest level since September 2021 on the heels of continuing disinflation and an improved view of household finances, according to the University of Michigan’s survey on Friday. … READ MORE >
Data on jobless claims and producer inflation came in lower than forecast on Thursday, giving mixed signals on the Federal Reserve’s rate trajectory. … READ MORE >
A series of economic reports released on Thursday showed a much more resilient economy than expected heading into a crucial period when the Federal Reserve is on the verge of hiking interest rates again. … READ MORE >
Inflation continued to decelerate in May as the Federal Reserve’s key pricing metric—the personal consumption expenditures index—grew by only 3.8% from a year ago, the lowest level in more than two years. … READ MORE >
Despite May’s top-line upside surprises in the durable goods report, our forecast for GDP growth in the second quarter stays at 1.8%. … READ MORE >
