Fact of the Week

by Raymond J. Keating – Inflation took a significant bite out of personal income in August, according to data in the latest personal income report from the U.S. Bureau of Economic Analysis. While personal income grew by 0.4 percent in August, the PCE (personal consumption expenditures) price index also rose by 0.4 percent. So, in […]

by Raymond J. Keating – The latest Beige Book report from the Federal Reserve served up another mixed take on the U.S. economy. When the economy is generally underperforming and uncertainty swirls, it’s typical to get mixed and/or conflicting reports on assorted industries and regions. In terms of the economic growth, the Beige Book offered […]

by Raymond J. Keating – The U.S. economy overwhelmingly is a small business economy. And even given that reality, it’s hard to think of a sector that is more about small businesses than residential housing construction. Based on the latest Census Bureau data, in the residential building construction industry, 92.3 percent of employer firms have […]

by Raymond J. Keating –  The Federal Reserve is bent on slowing down our already slow economy in order to fight inflation. In particular, the Fed has been focused on reining in job growth. Well, based on the latest state employment report from the U.S. Bureau of Labor Statistics (BLS), the Fed just be making […]

by Raymond J. Keating – International trade is vital to U.S. economic growth and to small businesses. Nonetheless, the Administration seems content to either ignore trade or – and this is much worse – advance and/or maintain protectionist policies that undermine the economy, small businesses, and American workers and consumers. As SBE Council has pointed […]

by Raymond J. Keating – According to the Institute for Supply Management’s Services PMI Index, the services sector in the U.S. grew in May for the fifth consecutive month. However, the Services PMI of 50.3 percent in May was 1.6 percentage points lower than April’s reading of 51.9 percent. The contraction in December of last […]

by Raymond J. Keating – An already-underperforming economy slowed even further in the first quarter of 2023, according to the latest GDP report from the U.S. Bureau of Economic Analysis. Real GDP growth measured a meager 1.1 percent in the first quarter (on a seasonally adjust annual rate). Growth has declined from 3.2 percent in […]

by Raymond J. Keating – Industrial production, according to the latest report from the Federal Reserve, increased by 0.4 percent in March. That increase was all about a big rise in utilities output after a mild February gave way to a more seasonal March. Manufacturing production declined by 0.5 percent in March, with mining output […]

by Raymond J. Keating – The latest personal income report from the U.S. Bureau of Economic Analysis offered some hope, along with troubling reminders. First, it was noted that personal income in January grew by 0.6 percent. Normally, that would be good news. However, inflation – as measured by the PCE price index in this […]

by Raymond J. Keating – If you’re seeking an example of the power of special interests in politics, look no further than labor unions. While labor union membership continues to fall – as illustrated by the latest data from the U.S. Bureau of Labor Statistics (BLS) – the political influence of unions persists. The BLS […]