RSSCategory: Economic Updates

Dec

19

Growth Report for Monday, December 19, 2016

FED RAISES RATES, PLOTS THREE 2017 HIKES Federal Reserve policymakers unanimously chose to raise the benchmark interest rate by a quarter point last week. That was expected; less expected was the central bank’s adjustment to its 2017 dot-plot. Fed officials now see three rate hikes next year instead of two. The move to the new […]

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Dec

12

Growth Report for Monday, December 12, 2016

SERVICE SECTOR LOOKS VERY HEALTHY The Institute for Supply Management’s monthly services index improved 2.4 points in November to a 57.2 reading. Analysts polled by Briefing.com had expected a small gain to 55.6. It was the PMI’s best reading since October 2015, and it marked the 82nd consecutive month of expansion for the non-manufacturing segment […]

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Dec

5

Growth Report for Monday, December 5, 2016

JOBS REPORT SHOWS UNEMPLOYMENT AT 4.6% America’s jobless rate fell to a nine-year low in November as companies added 178,000 net new jobs. The U-6 rate (including the underemployed decreased) 0.2% to 9.3%. There were some negatives: yearly wage growth moderated to 2.5%, and the labor force participation rate ticked down to 62.7%, in part […]

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Nov

28

Growth Report for Monday, November 28, 2016

STOCKS SETTLE AT ALL-TIME HIGHS An abbreviated trading week was also a historic week on Wall Street, as the four key U.S. equity indices all reached new peaks. At Friday’s closing bell, the Russell 2000 settled at a record 1,347.20 after its fifteenth straight day of gains; it was up 2.37% for the week. The […]

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Nov

21

Growth Report for Monday, November 21, 2016

YELLEN HINTS STRONGLY AT A RATE HIKE Thursday, Federal Reserve chair Janet Yellen told Congress that the central bank could raise the benchmark interest rate “relatively soon,” calling current monetary policy merely “moderately accommodative.” She added that Fed officials envision “only gradual increases in the federal funds rate over time to achieve and maintain maximum […]

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Nov

7

Growth Report for Monday, November 7, 2016

NEW DATA SHOWS BRIGHTER JOBS PICTURE Unemployment fell to 4.9% in October as firms added 161,000 net new workers, but that was just one positive from the Department of Labor’s latest summary of the U.S. employment situation. Year-over-year wage growth reached 2.8%, the best number seen since June 2009, as average hourly pay rose ten […]

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Oct

31

Growth Report for Monday, October 31, 2016

ECONOMY EXPANDS 2.9% in THIRD QUARTER After just 1.4% growth in Q2, this was welcome news. Surging exports and greater inventory investment and federal spending made Q3 the best quarter for the economy in two years, according to the Department of Commerce. The federal government’s core PCE price index was up 1.7% for the quarter […]

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Oct

17

Growth Report for Monday, October 17, 2016

RETAIL SALES JUMP 0.6% This September gain was impressive – minus auto sales, the advance was still 0.5%. In August, both headline and core retail sales fell 0.2%. While consumers bought more last month, they were less confident earlier this month – the University of Michigan’s initial October consumer sentiment index fell 3.3 points to […]

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Oct

10

Growth Report for Monday, October 10, 2016

hiring picked up in the Third quarter Employers added 156,000 net new jobs to their payrolls in September, the Department of Labor stated Friday. The August gain was revised up to 167,000, so monthly job growth averaged 192,000 in Q3, improved from 146,000 in Q2. The unemployment rate ticked up to 5.0% in September; the […]

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Oct

3

Growth Report for Monday, October 3, 2016

NO ADVANCE IN CONSUMER SPENDING Personal spending was flat in August even as personal incomes rose 0.2%. These numbers from the Department of Commerce fell short of expectations: economists polled by MarketWatch had forecast a 0.2% gain in both categories. In other news linked to consumer spending, the federal government revised second-quarter GDP up to […]

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