Increased Optimism About Current and Expected Conditions Increased optimism about current and expected conditions supported a better than expected result for the Consumer Confidence Index in January. Consumer spending should remain a key driver of economic growth this year. Wells Fargo US Drill Rigs Running Down From Previous Count There were 794 drill rigs running [...]
Financial Conditions and Consumers' Outlook Remain Positive "Financial conditions and consumers' outlook remain positive, which should support growth of about 2 percent through early 2020, despite the US LEI decline in four of the last five months. Its six-month growth rate turned slightly more negative in the fourth quarter of 2019, with the manufacturing indicators [...]
Unemployment Rate Hovering at a Fifty -Year Low With the unemployment rate hovering at a fifty -year low, it leaves 500,000 US factory jobs unfilled, the most in nearly two decades, according to the Labor Department. Manufacturers are paying relocation costs and bonuses to move new hires across the country at a time of record-low [...]
US Trade Deficit Fell to Lowest Point in More Than Three Years The November 2019 US trade deficit fell to its lowest point in more than three years, suggesting the Trump administration's agenda to recalibrate international flows of goods and services is having an impact. This confirms that net exports are going to provide a [...]
Welcome to 2020! Chicago Business Barometer Four-Month High In December The Chicago Business Barometer four-month high reached 48.9 after rising 2.6 points in December . Business sentiment dropped to its lowest reading since Q2 2009 and the index was below the 50-mark for the second consecutive quarter. Among the five main categories, Supplier Deliveries and [...]
Housing Starts Rose in November Single family housing starts rose 2.4% in November, multi-family starts by 4.9% and overall building permits rose 1.4%. Wells Fargo November existing home sales declined 1.7% in November but are still up 2.7% over the year. Sales should continue to improve with support from lower mortgage rates though inventory shortages [...]
US Manufacturing Output Rebounded US manufacturing output rebounded more than expected in November, as the end of an almost six-week long strike at General Motors plants boosted auto production. The Federal Reserve said on Tuesday that manufacturing production rose 1.1% last month after a downwardly revised 0.7% fall in October. Industrial output also rose 1.1% [...]
Unemployment Dropped to Fifty Year Low Unemployment dropped to fifty year low of 3.5% in November, as the US economy added 266,000 non-farm jobs, trouncing estimates of 180,000 new jobs. ...but let's impeach the President. Idiots-all of them. Small Business Optimism Index Rose in November, Marking the Largest Increase Since May The National Federation of [...]
Chicago Business Barometer Rose 3.1 Points The Chicago Business Barometer rose 3.1 points in November, hitting a 127th consecutive month two-month high 46.3, however, the index remains in contraction for the third straight month. The New Orders and Order Backlogs indices saw the largest monthly improvements in November. Supplier deliveries fell and Production slipped as [...]
Texas Factory Activity Contracted in November Texas factory activity contracted slightly in the month, according to the Federal Reserve Bank of Dallas November 2019 Texas Manufacturing Index, per executives responding to the survey. The production index, a key measure of state manufacturing conditions, dipped into negative territory for the first time since mid-2016. Other measures [...]
