Senior Fed Economist Says Odds of Avoiding Recession Have Risen
Matthew Boesler BloombergNovember 18, 2022 Latest data raise soft-landing chances slightly, Raffo says Minneapolis Fed’s director of research speaks in interview (Bloomberg) A senior Federal Reserve economist said the latest data on consumer spending, wages and prices suggest the central bank’s chances of achieving a soft landing for the US economy have improved a bit […]
US Producer Prices Cool by More Than Forecast on Heels of CPI
Reade Pickert BloombergNovember 15, 2022 Index rose 8% from October 2021; up 0.2% from month earlier Core goods prices declined, while services costs also eased (Bloomberg) —US producer price growth stepped down in October by more than expected in the latest sign that inflationary pressures are beginning to ease. The producer price index for final demand advanced […]
US Retail Sales Rise Most in Eight Months as Consumers Hold On
Augusta Saraiva BloombergNovember 16, 2022 Value of purchases rose 1.3% in October, topping estimates Sales declined at department stores and electronics outlets (Bloomberg) —US retail sales posted the biggest increase in eight months in October, indicating demand for goods is broadly holding up despite decades-high inflation and a worsening economic outlook. The value of overall retail […]
U.S. GDP accelerated at 2.6% pace in Q3, better than expected as growth turns positive
Jeff Cox CNBCOctober 27,2022 Gross domestic product rose 2.6% in the third quarter versus the estimate of 2.3%. A narrowing trade deficit and increases in consumer spending and government outlays boosted the number. A sharp pullback in housing subtracted from the number, part of a broader decline in private investment. Consumer spending decelerated, increasing at […]
U.S. consumer is soldiering on despite soaring inflation and recession risk, credit card giants say
Yun Li CNBCOctober 21,2022 U.S. consumers have demonstrated a willingness to continue to pay higher prices in the face of a sluggish economy that could be tipped into a recession, according to credit card giants American Express and Bank of America. American Express on Friday reported stronger-than-expected third-quarter earnings and revenue, while raising its full-year […]
Treasury yields could be peaking soon and that could ease some pressure on stocks
Patti Domm CNBCOctober 19,2022 The closely watched 10-year Treasury yield has been setting new 14-year highs, but strategists expect it to ease from those levels in a matter of weeks, relieving pressure on the stock market. That may be a temporary phenomenon, but it could serve to fuel the year-end rally that many investors have […]
Bank of America CEO says latest spending and savings data show that the U.S. consumer is healthy
Hugh SonCNBCOctober 17,2022 Bank of America’s customers continue to spend freely, using their credit cards and other payment methods for 10% more transaction volume in September and the first half of October than a year earlier, CEO Brian Moynihan said. Customers’ account balances remain higher than before the coronavirus pandemic struck in early 2020, Moynihan […]
After two years of shipping snarls, things are starting to turn around
Su-Lin Tan CNBC October 16,2022 After two years of port congestions and container shortages, disruptions are now easing as Chinese exports slow in light of waning demand from Western economies and softer global economic conditions, logistics data shows. “The retailers and the bigger buyers or shippers are more cautious about the outlook on demand and […]
US Services Growth Remains at Solid Pace, Price Pressures Ease
Augusta Saraiva Bloomberg October 5, 2022 Measures of business activity, orders softer but elevated Index of service provider employment highest in six months Growth at US service providers remained firm in September, reflecting solid business activity and orders, while a measure of prices fell to the lowest since the start of 2021. The Institute for […]
U.S. core capital goods orders surge; consumer confidence rises further
Lucia Mutikani Reuters September 27, 2022 Core capital goods orders increase 1.3% in August Core capital goods shipments rise 0.3% Consumer confidence index increases to 108.0 in September House price growth decelerates in July New orders for U.S.-manufactured capital goods increased more than expected in August, suggesting that businesses remained keen to invest in equipment […]