DATA FLASH: US JUNE RETAIL SALES STRONGER THAN EXPECTED, UP 7.5%
-Retail Sales Excluding Motor Vehicles Rise 7.3%; Vehicle Sales Up 8.2%-Initial Jobless Claims Fall by 10,000 to 1.310m in the July 11 Week-Philadelphia Fed Index Dips to 24.1 in July from 27.5 in June-NAHB Index Rises To 72 in July From 58 in June, Almost Pre-COVID Level-Business Inventories Fall 2.3% in May, Business Sales Up […]
FED’S BEIGE BK: SOME BOUNCEBACK FROM STILL VERY LOW LEVELS
WASHINGTON (MaceNews) – The latest Federal Reserve Beige Book survey of economic conditions in all 12 Districts published Wednesday was particularly uninformative this time around, providing little insight beyond generally available information on what’s happening to guide the upcoming meeting of the Federal Open Market Committee. The summary and District-by-District snapshots, assembled by the Chicago […]
DATA FLASH: US JUNE CPI RISES 0.6% ON ENERGY PRICE REBOUND
–Core Prices Up 0.2%; Ex-Energy, CPI Up 0.3%;–Energy Prices Up 5.1% –NFIB Survey Shows Continued Improvement, Sales Outlook Sharply Improved–Redbook Weekly Retail Sales Show July Up 3.0% From June, Down 5.5% Y/Y By Kevin Kastner WASHINGTON (MaceNews) – U.S. consumer prices were above expectations as energy prices rebounded, food prices rose further and core prices […]
DATA PREVIEW: JUNE DATA SOLID, BUT COVID REBOUND LOOMS
By Kevin Kastner WASHINGTON (MaceNews) – The U.S. data for June have been generally positive, with a solid gain in nonfarm payrolls and the above-50 ISM readings for both the manufacturing and nonmanufacturing sectors. Of course, much of this was before several large states reported rebounds in their COVID-19 cases, so the silver cloud comes […]
FED’S DALY/BARKIN SEE HUGE PANDEMIC-CAUSED ECONOMIC CHALLENGES STILL TO COME
By Denny Gulino WASHINGTON (MaceNews) – The presidents of the Richmond and San Francisco Federal Reserve Banks Tuesday saw huge challenges ahead as government virus response programs ebb, landlords without rent payments pressure banks, displaced workers stay unemployed and customers get less enthusiastic about visits to bricks and mortar establishments as the pandemic hangs on. […]
DATA FLASH: US JUNE CONFIDENCE UP; COVID REBOUND COULD HIT JULY
By Kevin Kastner WASHINGTON (MaceNews) – The Conference Board’s U.S. consumer confidence index rose solidly to a reading of 98.1 in June from a downward revised 85.9 reading in May, but a resurgence of COVID-19 cases at the end of the month and the dwindling effects of the stimulus payments suggest another increase in July […]
DATA PREVIEW: AFTER PARTIAL RECOVERY IN MAY, FOCUS TURNS TO JUNE
By Kevin Kastner WASHINGTON (MaceNews) – After solid improvement in the May U.S. data released over the last two weeks, the focus in the coming week turns to the early-June regional conditions data. June readings from the New York Fed and Philadelphia Fed released this previous week indicated continued improvement, with the Philadelphia Fed’s reading […]
DATA FLASH: US MAY RETAIL SALES SURGE BY 17.7% ON REOPENINGS
–Retail Sales Excluding Motor Vehicles Rose 12.4%; Vehicle Sales Surge 44.1%–Industrial Production Rose 1.4%, Motor Vehicle Production Rebounds by 120.8%–NAHB Index Jump To 58 in June From 37 in May, Suggests Stronger Home Building Ahead–Business Inventories Down 1.3% in April, Business Sales Down 14.4% By Kevin Kastner WASHINGTON (MaceNews) – As social distancing eased in […]
DATA PREVIEW: WAS MAY THE TURNING POINT? LET’S FIND OUT
By Kevin Kastner WASHINGTON (MaceNews) – The May U.S. data have been modestly uplifting to this point, specifically the surprise payrolls gain and lower unemployment rate, improved inflation data, and a smaller contraction in manufacturing conditions. None of it came close to making up for the terrible March and April readings, but it’s a start. […]
DATA PREVIEW: PROTESTS COMPLICATE FOMC STATEMENT AMID RECOVERY
By Kevin Kastner WASHINGTON (MaceNews) – After the May employment report showed slight improvement after the overwhelmingly negative April report, the attention in the week ahead turns to the monthly U.S. inflation reports and Wednesday’s FOMC meeting, as well as the first look at June consumer confidence. The FOMC meets Tuesday and Wednesday at a […]