Fact of the Week

April 21st, 2021 by

by RAYMOND J. KEATING- For decades, New York elected officials have imposed one of the most hostile tax climates in the nation. And now it’s just gotten much worse. Of course, these New York tax increases – falling significantly on entrepreneurs, businesses of varying types and sizes, and investors – mean fewer resources and incentives […]

April 20th, 2021 by

by RAYMOND KEATING- The U.S. Bureau of Labor Statistics has released the latest estimate of jobs by state. And while all states have suffered during this pandemic economy, the damage has varied considerably by state. The BLS report on March 2021 nonfarm payroll employment noted that compared to February 2021, “Nonfarm payroll employment increased in […]

April 16th, 2021 by

by RAYMOND J. KEATING- The strong housing market had taken a breather in February. In fact, both housing starts permits took a dive in February after months of strong growth. Given severe weather that struck major parts of the country, the question was: Did the February decline merely reflect a temporary, weather-related phenomenon, or was […]

April 15th, 2021 by

by RAYMOND J. KEATING- After a weather-related decline in February, industrial production (the actual output of the manufacturing, mining and utility sectors of our economy) grew by 1.4 percent in March, as reported by the Federal Reserve. The February change registered -2.6 percent. Manufacturing, the largest chunk of industrial production, expanded by 2.7 percent in […]

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 […]

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