PROTECTING SMALL BUSINESS, PROMOTING ENTREPRENEURSHIP

Fact of the Week

April 7th, 2021 by

by Raymond J. Keating- The latest consumer credit numbers point to growing confidence among consumers. While retails sales were down in February (in part due to weather issues), consumer credit actually spiked up – after being flat in January. Specifically, the Federal Reserve reported: “In February, consumer credit increased at a seasonally adjusted annual rate […]

April 1st, 2021 by

  by Raymond J. Keating- The latest surveys on manufacturing point to solid growth having occurred in March, but with increasing challenges in terms of the supply chain. The IHS Markit U.S. Manufacturing PMI report noted that the March PMI hit the second-highest level on record (data going back to May 2007), thanks to strength […]

March 27th, 2021 by

by Raymond J. Keating- There are signs of hope in various places – hope that this pandemic will soon be put to rest for the sake of lives, public health, and the economy. That hope is tied to the distribution of vaccines, which will then lead to a return to normalcy, including for the economy. […]

March 18th, 2021 by

by Raymond J. Keating- The housing numbers served up by the U.S. Census Bureau were ugly for February. That’s troubling given that housing has been a major bright spot for the economy during this pandemic economy, as well as the fact that housing very much is about small business. The data pointed to housing starts […]

February 17th, 2021 by

by Raymond J. Keating- The Federal Reserve reported that industrial production extended its growth streak to four months in a row in January. Specifically, overall industrial production – the actual output of the manufacturing, mining and utility sectors of our economy – grew in January by 0.9 percent. And manufacturing production, which accounts for the […]

February 10th, 2021 by

by Raymond J. Keating- The U.S. Census Bureau’s latest numbers on business applications serve up some optimism in terms of where entrepreneurship and our economy might be headed. First, what do these numbers tell us, and why should we care? The Census’ business formation statistics tally up Employer Identification Number (EIN) applications across the United […]

February 5th, 2021 by

by Raymond J. Keating- The monthly employment report from the U.S. Bureau of Labor Statistics always requires a bit more explanation than other releases on the economy given that it is based on two surveys, with payroll employment numbers coming from the establishment survey, and numbers like the employment-population ratio, labor force participation rate and […]

February 2nd, 2021 by

  by Raymond J. Keating- The early takes on manufacturing in 2021 point to a very encouraging start to the year. The IHS Markit U.S. Manufacturing PMI registered a record high in January 2021 (this index goes back to May 2007), thanks to an acceleration in both output and new orders. That included the most […]

January 28th, 2021 by

by Raymond J. Keating- The Federal Open Market Committee statement released on January 27 noted, rightly, its assessment of the economy now and in the near term depends almost completely on the pandemic. However, when it comes to actual monetary policy, the Fed continues to be wildly disproportionate, and perhaps even detached from economic reality. […]

January 26th, 2021 by

by Raymond J. Keating- While labor unions continue to carry weight in the halls of political power, while also claiming a significant share of government workers as members, their long decline in the private sector has largely continued. The U.S. Bureau of Labor Statistics recently released its “Union Members – 2020” report. Of course, with […]

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