Updating CBO’s Economic Forecast to Account for the Pandemic
WASHINGTON (MaceNews) – The following is the non-partisan Congressional Budget Office update text of pandemic-related economic assumptions posted Friday morning by CBO Director Philip Swagel: CBO expects that the economy will contract sharply during the second quarter of 2020 as a result of the continued disruption of commerce stemming from the spread of the novel […]
DATA FLASH: US MARCH MANUFACTURING ISM TICKS DOWN ON UNCERTAINTY
-Decline Follows Disappointing Regional Data, Markit Revised Lower By Kevin Kastner WASHINGTON (MaceNews) – Manufacturing sector activity contracted modestly in March according to the Institute of Supply Management, slightly better than the regional data leading up to it, but likely the first in a string of monthly declines. The headline PMI index fell to 49.1 […]
MANUFACTURING WEAKNESS HOLDS DOWN CHICAGO FED DISTRICT BUSINESS CONDITIONS
NEW YORK (MaceNews) – Manufacturing business conditions eroded in the Chicago region in July/August while non-manufacturing improved, according to the latest survey of Seventh Federal Reserve district business activity conducted by the Chicago Fed. The Chicago Fed’s Survey of Business Conditions Activity Index rose to −22 in the July/August survey period from −30 in the […]