Fact of the Week

July 27th, 2021 by

by RAYMOND J. KEATING – After suffering a decline in April, durable goods new orders grew for the second consecutive month in June, according to the latest report from the U.S. Census Bureau. Since the major declines suffered in March and April of 2020, durable goods orders have now increased in 13 of the last […]

July 16th, 2021 by

by Raymond J. Keating – The U.S. Census Bureau reported that retail sales bounced back in June after a decline in May. June retail and food services sales increased by 0.6 percent. And compared to a year earlier, retail sales were up a robust 18.0 percent. And versus pre-pandemic February 2020, June 2021 sales were […]

July 16th, 2021 by

by Raymond J. Keating – The Federal Reserve’s latest take on industrial production – i.e., the actual output of the manufacturing, mining and utility sectors of our economy – indicated growth of 0.4 percent in June. The data show growth in three of the last four months, after a weather-related decline in February. The initial […]

July 9th, 2021 by

by Raymond J. Keating – The latest consumer credit report from the Federal Reserve may be pointing to a move up in confidence among consumers in May. Consumer sentiment surveys are fine, as far as they go. But actions often can diverge from what’s expressed in surveys. Words, of course, have to be backed up […]

July 7th, 2021 by

by RAYMOND J. KEATING – The latest “Job Openings and Labor Turnover” report from the U.S. Bureau of Labor Statistics showed little change in both job openings and hires in May 2021 compared to April 2021. But a look over the past near-year-and-a-half makes clear the very tight labor market that U.S. businesses are now […]

June 26th, 2021 by

by Raymond J. Keating – Various signals emanated from the latest personal income report from the U.S. Bureau of Economic Analysis. Personal income declined by 2 percent in May, and that came after a decline of 13.1 percent in April. Looking at real disposable income (i.e., personal income less personal current taxes), which is the […]

June 9th, 2021 by

by RAYMOND J. KEATING- Some groups and people seem to have a difficult time with keeping matters straight when the public policy focus turns to raising taxes on high-income earners and business. That becomes evident in a recent analysis of polling on taxing the wealthy from Gallup. For example, the author, Frank Newport, wrote, “The […]

June 3rd, 2021 by

  by RAYMOND J. KEATING – The survey information served up in the latest Federal Reserve Beige Book pointed to a slightly accelerating economy during the period from early April to late May, along with businesses continuing to wrestle with constrained inputs. “Moderate” Growth The Fed pointed to “moderate” growth, which was slightly faster than […]

May 27th, 2021 by

by RAYMOND J. KEATING- The latest durable goods report from the U.S. Census Bureau served up a mixed story for manufacturing in April. The troubling aspect of this report is that durable goods new orders declined by 1.3 percent in April 2021. That was the first decline since April 2020, when we were in the […]

May 25th, 2021 by

by RAYMOND J. KEATING- The Conference Board’s Consumer Confidence Index basically held steady in May. The index now came in at 117.2 (1985=100) in May, which was down ever so slightly from April’s  117.5. The Conference Board’s measure is actually a composite of two indices. The Present Situation Index offers consumer views on the current […]

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