Fact of the Week

June 5th, 2023 by

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 […]

April 27th, 2023 by

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 […]

April 15th, 2023 by

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 […]

February 24th, 2023 by

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 […]

January 20th, 2023 by

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 […]

December 16th, 2022 by

by Raymond J. Keating –  The latest business applications data from the U.S. Census Bureau points to a continuing high level of desire or a significant intention among Americans to startup their own businesses. The “but” comes into play, however, when looking at the costs and uncertainties imposed by policymakers, and economic uncertainty and opportunity […]

December 14th, 2022 by

by Raymond J. Keating  –   The Federal Reserve announced on Wednesday, December 14 that it was raising the federal funds rate by a half-point to 4.25 to 4.5 percent. The Fed added, “The Committee anticipates that ongoing increases in the target range will be appropriate in order to attain a stance of monetary policy […]

September 9th, 2022 by

by Raymond J. Keating – Consumer credit continued to grow strongly in July, according to the latest data from the Federal Reserve. Total consumer credit grew at annual rate of 6.2 percent in July. That came after growth of 10.2 percent in June and 6.2 percent in May. Nonrevolving credit (e.g., “motor vehicle loans and […]

August 26th, 2022 by

by Raymond J. Keating – Given that the Consumer Price Index report had shown that CPI inflation was flat in July, it was expected that the July personal income report would offer a breather from bad news related to inflation going back to early last year. In July 2022, the personal consumption expenditures (PCE) index […]

August 22nd, 2022 by

by Raymond J. Keating – Just how “good” is the jobs market? It’s noted in the latest U.S. Bureau of Labor Statistics report on “State Employment and Unemployment” that in July 2022 compared to the previous month, “Nonfarm payroll employment increased in 20 states, decreased in 2 states, and was essentially unchanged in 28 states […]

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