January’s job openings—a proxy for labor demand—fell to 10.8 million from an upwardly revised 11.2 million in December. … READ MORE >
Tuan Nguyen
U.S. service sector expands in back-to-back months
The U.S. service purchasing managers index registered at 55.1 in February, only slightly lower than the prior month at 55.2. … READ MORE >
New jobless claims fall again amid strong labor market
New claims dropped by 2,000 to 190,000 for the week ending Feb. 24, lower than the pre-pandemic average at 218,000, according to Labor Department data released on Thursday. … READ MORE >
Manufacturing sector shrinks again in February amid falling demand
The Institute for Supply Management’s manufacturing index in February was 47.7, remaining below the long-term breakeven point of 48.7. … READ MORE >
Consumer confidence falls in February amid a worsening outlook
The top-line confidence index dropped to 102.9 from 106.0 in the prior month, while the expectations index fell to 69.7 from 76.0. … READ MORE >
Canada’s economy stalled even as consumer spending held up
The Canadian economy stalled in the fourth quarter, eking out a 0.03% gain in what was a significant downside surprise from expectations of a 1.6% increase.= … READ MORE >
Business spending on equipment rose in January
Investments in business equipment posted a sharp rebound in January after two consecutive months of disappointing declines. … READ MORE >
January’s spending shows a hot economy despite rate hikes
The Fed’s key gauge of inflation—the personal consumption expenditures deflator—rose by 0.6% on the month for both the top-line and the core numbers, bringing the year-over-year inflation to 5.4% and 4.7% for the two series, respectively. … READ MORE >
Initial jobless claims inch down amid tight labor market
New filings for jobless benefits inched down last week to 192,000, remaining below the pre-pandemic level where they have been since December. … READ MORE >
Canada’s annual inflation slows again, yet Bank of Canada’s work is not done
The consumer price index rose by 5.9% from 12 months ago in January, down from 6.3% in December, and lower than the market’s forecast at 6.1%. … READ MORE >