US Retail Sales Top Forecasts in Sign of Durable Consumer Demand
Augusta Saraiva Bloomberg October 17, 2023 Increase in household purchases spans variety of categories Data bolster already-robust economic growth in third quarter US retail sales increased in September by more than forecast in a broad advance that suggests durable household demand as the third quarter drew to a close. The value of retail purchases, unadjusted for […]
A Recession Is No Longer the Consensus
In WSJ survey, economists lower recession probability below 50% and say Fed is finished raising interest rates Harriet Torry and Anthony DeBarros The Wall Street Journal October 15, 2023 Economists are turning optimistic on the U.S. economy. They now think it will skirt a recession, the Federal Reserve is done raising interest rates and inflation will continue […]
Rising Rates Make Big Companies Even Richer
James Mackintosh The Wall Street Journal September 15, 2023 The amount companies earn from cash in the bank is going up even as interest costs fixed during the pandemic stand still. The Federal Reserve jacked up interest rates to slow the red-hot economy. At some of the biggest and most secure companies, the moves had the opposite […]
US services sector picked up in August, along with prices
Ann Saphir Reuters September 6, 2023 The U.S. services sector unexpectedly gained steam in August, with new orders firming and businesses paying higher prices for inputs — potential signs of still-elevated inflation pressures. The Institute for Supply Management (ISM) said on Wednesday its non-manufacturing PMI rose to 54.5 last month, the highest reading since February […]
Fed Officials Set to Double Growth Forecast Amid Strong Data (1)
Steve Matthews Bloomberg September 6, 2023 Resilience may lead to fewer rate cuts penciled in for 2024 Separate tracker from Atlanta Fed is at 5.6% for third quarter The US economy has been looking so solid lately that Federal Reserve officials will probably need to double their projection for growth in 2023 when they publish […]
U.S. dollar defies China, Russia and Wall Street skeptics as 2023 rebound continues
Joseph Adinolfi MarketWatch August 28, 2023 A popular gauge of the dollar’s value is nearing its highest level in 6 months The U.S. dollar is proving its haters wrong. Not only is the buck defying the expectations of Wall Street strategists who had anticipated that it would weaken this year, it’s also proving once again […]
Will the rest of the world feel China’s deflation pain?
Chris Gills Financial Times August 16, 2023 Beijing’s economic woes worsened last week after it emerged China had fallen into deflation. The news highlights how the country is struggling to live up to expectations of a strong recovery after emerging from extended Covid lockdowns. But will falling prices have an impact beyond China’s borders, in […]
US Retail Sales Top Forecasts, Showcasing Consumer Resilience
Reade Pickert Bloomberg August 15, 2023 July sales rose 0.7% after upward revisions to prior months Broad gain included firmer sales at online, clothing retailers US retail sales rose in July by more than forecast, suggesting consumers still have the wherewithal to sustain the economic expansion. The value of retail purchases increased 0.7% in July after upward […]
China Now Sells Fewer Goods to the US Than Mexico or Canada Do
Augusta Saraiva Bloomberg August 8, 2023 Mexico and Canada have replaced China as the top providers of goods to the US as a nearshoring push encourages more diversified supply chains. The US imported about $203 billion in goods from China in the first six months of the year, 25% less than in the same period in 2022, […]
JPMorgan Scraps Recession Call in Latest Sign of Rising Optimism
Reade Pickert Bloomberg August 4, 2023 JPMorgan Chase & Co. economists scrapped their call for a recession in the US, joining a growing number of forecasters who now expect the economy to avert the downturn that was once viewed as inevitable. The bank, which had previously said it expected a recession to begin in 2023, […]