Economics Group: Weekly Economic & Financial Commentary U.S. Review FOMC Meeting Does Little to Change Our Outlook The Fed lowered its projections for GDP and unemployment slightly, but left a “considerable time” between ending its asset purchase program and its first rate hike, which we still expect in Q2 2015. Industrial production weakened in August, but […]
Continue ReadingEconomics Group: Weekly Economic & Financial Commentary U.S. Review Third Quarter Growth Appears Solid Retail sales rose 0.6 percent in August as auto sales helped to boost the headline number. The stronger reading allayed some fears about consumer spending in the third quarter. Business inventories rose 0.4 percent in July signaling that the pace of inventory […]
Continue ReadingEconomics Group: Weekly Economic & Financial Commentary U.S. Review Q3 Kicks It into High Gear— The factory sector has accelerated, with the ISM manufacturing index surging in August, factory orders showing strength beyond aircraft in July and power & manufacturing leading nonresidential construction spending. — August’s ISM nonmanufacturing index jumped to its highest level in nine […]
Continue ReadingEconomics Group: Weekly Economic & Financial Commentary U.S. Review Data Details Show Economy Continues to Firm Second quarter GDP was revised higher to a 4.2 percent annualized rate, with the details painting a brighter picture of the economy. Compared to the first release, trade was less of a drag, nonresidential fixed investment was stronger and inventories […]
Continue ReadingEconomics Group: Weekly Economic & Financial Commentary U.S. Review What Was That Noise? Since Chair Yellen’s comment a few weeks ago that recent price jumps were “noisy,” the discussion about Fed policy has been dominated by concern about a perceived complacency on the part of policy makers. A relatively tame CPI report this week may not […]
Continue ReadingEconomics Group: Weekly Economic & Financial Commentary U.S. Review An Uneven Recovery will Keep the Fed on Hold Retail sales came in unchanged in July, which was below consensus expectations and core sales rose only modestly over the month. The largest declines were in general merchandise, due in part to slower department store sales, and motor […]
Continue ReadingEconomics Group: Weekly Economic & Financial Commentary U.S. Review Economic Acceleration But Restraint Persists The economy continues to show signs of acceleration this week, with the ISM Manufacturing Index jumping to its highest level since December 2005. Factory orders rebounded in June, confirming recent reports of a stronger manufacturing sector. The report suggests that business spending […]
Continue ReadingEconomics Group: Weekly Economic & Financial Commentary U.S. Review Growth Returns to a Solid Footing The economy expanded at a 4 percent pace in the second quarter of the year, with broad-based growth across every major sector with the exception of net exports. Revisions to prior quarters also showed that the economy was a bit stronger […]
Continue ReadingEconomics Group: Weekly Economic & Financial Commentary U.S. Review Inflation Rising, Housing Not so Much Despite the acceleration in consumer prices, the Fed is unlikely to change its current course for a rate hike in the middle of next year. The housing recovery remains slow. Existing home sales perked up in June, while new home sales […]
Continue ReadingEconomics Group: Weekly Economic & Financial Commentary U.S. Review Q2 Appears to Be Ending on a Stronger Note · Retail sales rose a modest 0.2 percent in June, however, the details of the report were encouraging for consumer spending in the second quarter. · June producer prices came in higher than expected, rising 0.4 percent. Import […]
Continue Reading
