Fact of the Week

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 […]

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 […]

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 […]

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 […]

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 […]

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, […]

by Raymond J. Keating- How can an incredible annualized real GDP growth rate of 33.1 percent, according to the latest report from the U.S. Bureau of Economic Analysis, be expected? When it comes after declines of 31.4 percent in the second quarter and 5.0 percent in the first quarter. It must be understood that even […]

by Raymond J. Keating- The latest report on retail sales released on October 16 from the U.S. Census Bureau showed that monthly sales for retail and food service establishments continued to slowly climb back in September. Of course, retail sales plunged in March and April, and then bounced back notably in May and June. Growth […]

by Raymond J. Keating- A major area of the economy that has bounced back impressively since the first months of this pandemic has been housing. After three months of strong growth, the latest data from the U.S. Census Bureau points to a housing construction taking a breather in August. Well, kind of, given that the […]

by Raymond J. Keating- On the long road to recovery, August ranked as a solid month in terms of employment, based on the latest jobs report from the U.S. Bureau of Labor Statistics. The establishment survey pointed to payroll gains of 1.37 million in August, which fell in line with a notable slowdown over the […]