CANADA GDP FLAT IN JULY, WITH GOODS-PRODUCING SECTOR WEAKENING
By Gordon Isfeld OTTAWA (MaceNews) – The Canadian economy stalled in July after a four-month growth spurt, as major sectors such as manufacturing, construction, and oil and gas showed signs of weakening. “Following four months of growth, real gross domestic product was essentially unchanged in July as a decline in goods-producing industries was offset by […]
FEDWATCH: CHAIR POWELL SEES “MEETING BY MEETING’ POLICY READY FOR ANYTHING
By Denny Gulino WASHINGTON (MaceNews) – Facing a renewed presidential onslaught and a Federal Open Market Committee split over rate cut policy, Federal Reserve Chair Jerome Powell Wednesday said that the day’s quarter-point cut is part of a “meeting by meeting” policy that is hard to anticipate. “We made one decision today,” he said at […]
ECB SETS NEW STIMULUS PACKAGE BUT QE SHORT OF MARKET EXPECTATION
By Laurie Laird FRANKFURT (MaceNews) – The European Central Bank unleashed a fresh wave of stimulus following Thursday’s rate-setting meeting, although the Bank’s renewed quantitative easing package fell short of expectations, with some council members dissenting from a decision to resume quantitative easing. The interest rate on the ECB’s deposit facility will fall by 10 […]
CANADIAN EMPLOYMENT SURGES IN AUGUST
By Gordon Isfeld OTTAWA (MaceNews) – The Canadian economy produced a surprisingly strong gain in employment during August, adding 81,000 jobs — the majority being part-time positions — while the unemployment rate remained steady at 5.7 per cent for a third consecutive month. Full-time hiring accounted for 23,800 new jobs in August, while part-time hiring totaled […]
US JOBS REPORT A LITTLE SHORT OF BREATH BUT STILL JOGGING
–Workweek Rebounds; No Additional Wage Acceleration; Labor Participation Back to February By Denny Gulino WASHINGTON (MaceNews) – The August jobs report Friday had some bright spots amid a somewhat subdued landscape, with the three-month average payrolls growth slowed to 156,000 even with a new and sizable injection of Census workers. The brightest spot was the […]
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 […]
EXPORTS LIFT CANADA GDP IN SECOND QUARTER
By Gordon Isfeld OTTAWA (MaceNews) – The Canadian economy exceeded analysts’ expectations for a strong second-quarter gain, following weaker — but still positive — output growth in the first three months of 2019, but the stage remains set for a possible interest rate cut if threats to global output persist. Canada’s gross domestic product grew by 0.9 per […]
TECHNICAL NOTE, US REVISED 2ND QTR GDP – US BEA
WASHINGTON (MaceNews) – The following is the Bureau of Economic Analysis technical note that accompanied Thursday’s revised report on second quarter gross domestic product: Sources of Revision to Real GDP Real GDP increased 2.0 percent (annual rate) in the second quarter of 2019, a downward revision of 0.1 percentage point from the “advance” estimate. The […]
FED’S POWELL: FIXATED ON DATA POINTS IN ‘EVENTFUL’ PRELUDE TO FOMC
WASHINGTON (MaceNews) – Key excerpts of Federal Reserve Chair Jerome Powell’s Jackson Hole speech Friday, “Challenges for Monetary Policy” with boldfaced emphasis added: People who live and work in low- and middle-income communities tell us that this job market is the best anyone can recall. We increasingly hear reports that employers are training workers who […]
CANADIAN CONSUMER PRICE GAIN AT 2%; M/M +0.5%
by Gordon Isfeld OTTAWA (MaceNews) – Canada’s consumer price index rose by 2.0% in July on a year-over-year basis, the same pace of gains as the previous month, with food and shelter costs fueling much of the increases. The CPI reading on Wednesday was better than expected, with the key reading unchanged last month – and […]