The data should temper the market’s concern about growth that has triggered calls for a 50 basis-point cut in the Federal Reserve’s policy rate at its meeting this week. … READ MORE >
Tuan Nguyen
Consumer sentiment rises on improved outlook for inflation and spending
The University of Michigan consumer sentiment index rose to 69 in the first half of September, up from 67.9 earlier. … READ MORE >
Producer inflation and initial jobless claims stabilize further
While the producer price index came out slightly higher than forecasted at 0.3% on the month and 1.7% on a year-ago basis, it remained on a moderating trend with July’s number being revised down. … READ MORE >
Job openings fall amid imminent rate cuts
With job openings falling back to normal and the labor supply increasing, the labor market was in balance in July. … READ MORE >
Manufacturing sector declines at a slightly slower rate in August
A result of the slowdown was another month of employment declines, though at a slower pace at 46 compared to 43.4 in the prior month. … READ MORE >
Second quarter GDP is revised higher amid stronger consumer spending
With price stability essentially achieved, a well-performing labor market should continue to be a significant tailwind for growth, especially for consumer spending, in the last two quarters of the year. … READ MORE >
Jobless claims stabilize amid concerns over weak job gains
Initial claims last week rose by only 4,000, to 232,000, on a seasonally adjusted basis. Similarly, continuing claims for the week ending Aug. 8 increased by 4,000, to 1.863 million. … READ MORE >
Service sector bounces back in July, easing growth concerns
The ISM service index for July rose to positive territory at 51.4 after dropping in June to 48.8, suggesting that some of the concerns over an imminent recession looked overblown. … READ MORE >
Productivity continues to climb as investments take hold
The rebound of labor productivity in the second quarter is another sign of why the economy will continue to be on strong footing even as the labor market cools. … READ MORE >
Job openings exceed forecasts as layoffs and quits reach multiyear lows
Job openings continued to point to strong labor demand, staying above forecast at 8.18 million in June. May’s number was also revised up to 8.23 million. … READ MORE >