Job Market Remains Strong The job market remains strong even in the face of trade disputes and labor strikes as US employers hired at a solid clip in October. The economy added 128,000 jobs in October, as reported by the Labor Department and job creation in September and August were revised up by a net [...]
Job and Income Growth Remain Favorable Job and income growth remain favorable. Largely ignoring other news, consumers are still focused on job and income growth. Inflation expectations remain muted, supportive of a Fed rate cut next week. Wells Fargo October Fifth District Survey of Manufacturing Activity Reports Activity Strengthened The Federal Reserve Bank of Richmond [...]
The First Crack in the Foundation The first crack in the foundation may be the 0.3% decline in September retail sales. Amid the ongoing trade war and worries about a potential recession, the strength of consumer spending has been a needed counterweight." Wells-Fargo Business Activity Grew Slightly in Empire State The Federal Reserve Bank of [...]
Small Business Optimism Index Indicates Consistent Economic Growth The National Federation of Independent Business (NFIB) Small Business Optimism Index indicates consistent economic growth, though it fell modestly in September. Hiring and investment have moderated. US Drill Rigs Running Down From Previous Week There were 855 drill rigs running in the US last week, down 5 [...]
The Midwest Economy Index Moved Up in August The Midwest Economy Index (MEI) moved up to -0.26 in August from -0.37 in July. Contributions to the August MEI from three of the four broad sectors of nonfarm business activity and one of the five Seventh Federal Reserve District states increased from July. Chicago Business Barometer [...]
2019 Second Quarter GDP Increased 2019 Second Quarter GDP Increased. Real gross domestic product increased 2.0 percent in the second quarter of 2019, according to the "third" and final estimate released by the Bureau of Economic Analysis (BEA). Chicago Fed National Activity Index (CFNAI) Rose to +0.10 in August from -0.41 in July Led by [...]
Industrial Production Surged in August Industrial production surged 0.6% in August, with widespread gains. The 0.5% rise in manufacturing alleviates concerns about the factory sector's slowdown. Wells Fargo Existing Home Sales Beat Expectations Existing home sales beat expectations, rising in August. Wells Fargo Federal Reserve Cut Interest Rates for the Second Time On Wednesday the [...]
Small Business Owners Less Optimistic Small business owners less optimistic about the economic outlook, appear to be paring back capital spending and hiring. The National Federation of Independent Business (NFIB) Small Business Optimism Index fell 1.6 points to 103.1 in August. Wells Fargo US Drill Rigs Running Down Last Week There were 898 drill rigs [...]
Chicago Business Barometer Rose 6 Points in August The MNI Chicago Business Barometer rose 6 points to 50.4 in August. The index has been in contractionary territory for two months prior to this month's gain. Only two of the business activity components saw a monthly decline. The survey still suggests a softer overall tone in [...]
Led by Declines in Production-Related Indicators, the Chicago Fed National Activity Index Fell in July Led by declines in production-related indicators, the Chicago Fed National Activity Index fell to -0.36 in July from +0.03 in June. All four broad categories of indicators that make up the index decreased from June, and all four categories made [...]
