December's strong data on job openings and consumer confidence released on Tuesday foreshadowed another robust month of job gains in January, aligning with our above-consensus estimate for net payroll increases when the employment report is released on Friday. Job openings in the United States inched ... READ MORE >
Tuan Nguyen
Consumer sentiment rises above expectations in January
Consumer sentiment rose in January to the highest level since August 2021 as inflation concerns eased. American consumers showed more confidence in the economy, both now and in the future, the University of Michigan reported on Friday. The overall index increased to 78.8 from 69.7, much higher than ... READ MORE >
Consumer confidence ends the year on a positive note
Consumer confidence rose in December to the highest level in five months as sentiment on both the current and future situations improved markedly. The data from the Conference Board released on Wednesday adds to a string of economic data in recent months that supports further sustained expansion in the ... READ MORE >
U.S. retail sales grew by more than expected in November
Retail sales surprised to the upside in November as American consumers continued their robust spending. The gloomy holiday spending forecasts now seem to be out of the conversation. Instead, our estimate of billions in excess savings left on American households' balance sheets looks much more on point ... READ MORE >
Initial jobless claims remain resilient
Initial jobless claims inched up slightly to 220,000 last week, remaining within the pre-pandemic level, the Labor Department reported on Thursday. Claims have hovered around this level for quite some time, continuing to suggest a strong labor market that should support further growth in the fourth ... READ MORE >
Job openings fall to lowest level since 2021, signaling Fed pivot
Job openings came in much lower than expected in October, continuing the declining trend that began early last year. Along with a downward revision to September's data, the labor market is now the most balanced it has been since 2021. With 8.7 million job openings in October, the ... READ MORE >
U.S. economic outlook: Expansion continues into 2024
Solid consumer spending driven by real personal income gains and sustained private investment will underscore a steady pace of growth at or near the 1.8% long-run rate in the United States in 2024. We expect that policy tailwinds from both the fiscal and monetary authorities will set the stage for ... READ MORE >
Manufacturing sector in U.S. contracts in November
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. The overall index stayed unchanged at 46.7%, implying a decline. Any figure below 48.7% indicates ... READ MORE >
Durable goods and jobless claims offer a mixed picture of the economy
The impact of elevated interest rates continued to show up in the business equipment spending data, which came in lower than expected in the Commerce Department's data released on Wednesday. Overall orders for durable goods fell by 5.4% in October, led by a 49.6% decline in nondefense aircraft because ... READ MORE >
Industrial production posts biggest drop this year amid strikes
Industrial production dropped by more than expected in October as the United Auto Workers strike was felt in the economy. Production of motor vehicle parts fell by 10%, marking the biggest drop since the beginning of the pandemic. The industrial production index declined by 0.6% on the month, according ... READ MORE >