Fact of the Week

January 12th, 2021 by

by Raymond J. Keating- The latest “Job Openings and Labor Turnover” report was just released by the U.S. Bureau of Labor Statistics, and it points to little of substance changing in November regarding job openings, new hires and the quits rate. Meanwhile, the bigger picture provides a reminder that the U.S. economy remains in a […]

January 8th, 2021 by

by Raymond J. Keating- The Institute for Supply Management’s services index showed that growth continued for the seventh month in a row in December. The services PMI registered 57.2 percent in December, up by 1.3 percentage points versus November. Anthony Nieves, chairman of the Institute for Supply Management Services Business Survey Committee, noted: “This reading […]

December 22nd, 2020 by

by Raymond J. Keating- In the midst of an economy struggling under a pandemic stretching beyond its ninth month, no one should be surprised that the latest measure of consumer confidence from the Conference Board showed a decline in December. The December drop followed a decline in November as well. Indeed, the decline in the […]

December 16th, 2020 by

by Raymond J. Keating- The latest report on retail sales didn’t offer much Christmas cheer. Retail and food services sales declined by 1.1 percent in November, and that came after a revised decline of 0.1 percent in October. Compared to a year earlier, November 2020 retail sales were by 4.1 percent, with nonstore retail (mainly, […]

December 15th, 2020 by

by Raymond J. Keating- The latest report on industrial production (i.e., the actual output of the manufacturing, mining and utility sectors of our economy) showed that manufacturing production continued its recovery in November. Total industrial production for November grew by 0.4 percent. Utilities output fell by 4.3 percent, while mining grew by 2.3 percent. As […]

December 10th, 2020 by

by Raymond J. Keating- Finding something to be calm about in this economy is a rare phenomenon that is worth welcoming. That continues to be the case on the inflation front. Specifically, the Consumer Price Index rose by 0.2 percent in November, according to the latest report from the U.S. Bureau of Labor Statistics. And […]

December 7th, 2020 by

by Raymond J. Keating- The Federal Reserve reported that consumer credit for October increased by 2.1 percent (at a seasonally adjusted annual rate). That was all about a 4.8 percent increase in nonrevolving credit, including motor vehicle loans. As for revolving credit, i.e., mainly, credit cards, it declined by 6.7 percent in October. That October […]

December 3rd, 2020 by

by Raymond J. Keating- We received a couple of readings on manufacturing in November earlier this week, and now it’s time to see what key purchasing manager indices are telling us about how services looked last month. The good news is that both point to the recovery in services continuing in November. The Institute for […]

November 24th, 2020 by

by Raymond J. Keating- With COVID-19 cases spiking during the colder weather, as predicted, and while we await the arrival of vaccines with widespread distribution on the market, enormous uncertainties persist throughout the economy. That is certainly the case for entrepreneurs, small businesses, and their workers. Obviously, the Christmas holiday shopping season is vital for […]

October 30th, 2020 by

by Raymond J. Keating- The latest personal income report from the U.S. Bureau of Economic Analysis offers glimmers of hope that the economy is moving in the right direction. Specifically, personal income rose by 0.9 percent in September, along with a 0.7 percent increase in real disposable personal income. Regarding personal income, the BEA reported, […]

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