DATA PREVIEW: HOUSING WEEK AND HOPEFULLY NEW BEGINNINGS
–Domestic Terrorism, Mounting Virus Death Tolls, Deep Divisions Overwhelm Data WASHINGTON (MaceNews) – The upcoming week’s events, an Inauguration Day in the armed camp “Green Zone” that is now D.C. amid threats of violence at statehouses across the country, overshadows what little economic data will be published. The week begins with a holiday, progresses to […]
FED’S BEIGE BK SEES MODEST EXPANSION AMID MIXED SIGNALS
WASHINGTON (MaceNews) – The surge in COVID-19 cases and “stricter containment measures” have produced mixed results for consumer spending while manufacturing has continued to recover despite weaker auto sales, the Federal Reserve’s Beige Book survey suggested Wednesday. Four districts – Kansas City, Philadelphia, St. Louis and New York – reported no improvement and “a growing […]
DATA PREVIEW: PERSONAL INCOME, REVISED GDP AND MUCH MORE
WASHINGTON (MaceNews) – It’s time for Christmas already, and the holiday and the fact Christmas Eve is now a federal holiday as well has rearranged some of the week’s data reports. Yet with the possible exception of the weekly claims report, now coming Wednesday morning, very little if any of the week’s data is expected […]
DATA PREVIEW: RETAIL SALES, HOUSING STARTS, FED MEETING
By Denny Gulino WASHINGTON (MaceNews) – The November retail sales report from the Census Bureau is the highlight among the upcoming week’s economic data with housing starts along for the ride, readings in two industries doing better than expected during the pandemic. Retail sales through October were up 5.7% from a year earlier according to […]
FED’S BEIGE BK: FOUR DISTRICTS W/LITTLE OR NO GROWTH
WASHINGTON (MaceNews) – The Federal Reserve’s Beige Book survey of economic conditions from coast to coast, prepared for the final Federal Open Market Committee of the year in the middle of the month, not surprisingly Wednesday found a “modest” recovery marbled with seams of stagnancy as a resurgence of Covid-19 suppresses a lot of commerce. […]
DATA FLASH: US OCTOBER PERSONAL INCOME FALLS AS STIMULUS DISAPPEARS
–US October Personal Income -0.7% After +0.7% in October, Savings Rate 13.6%–Nominal PCE +0.5%, Real PCE +0.5%; Core Prices Flat–November Michigan Sentiment Index Revised Down to 76.9, Expectations Tumble By Kevin Kastner WASHINGTON (MaceNews) – Personal income fell in October, reflecting the removal of the Lost Wages stimulus package that lifted income in September, one […]
DATA FLASH: U.S. OCTOBER EXISTING HOME SALES ADVANCE FURTHER
–Existing Home Sales Rise by 4.3% to a 6.85 Million Rate, High Since Feb 2006 By Kevin Kastner WASHINGTON (MaceNews) – U.S. existing home sales surged again in October are now at the highest point since February 2006. National Association of Realtors Chief Economist Lawrence Yun said the data are “amazing” and noted that 2020 […]
STATUS CHECK COMMENTARY- EMPTY CLASSROOMS AGAIN; MORE COMING WASHINGTON (MaceNews) – The following is Wednesday’s status check of developments in the U.S. that can influence economic, health and political outcomes. The order to close New York City schools beginning Thursday was unwelcome in the extreme but Mayor Bill de Blasio said it was necessary. The […]
DATA FLASH: RETAIL SALES GROWTH SLOWS, UP 0.3% IN OCTOBER
–Retail Sales Ex-Motor Vehicles Rise Only 0.3%; Clothing Sales Reverse–Industrial Production Jumps By 1.1% as Utilities Production Rebounds–Business Inventories Up 0.7% in September, Business Sales Up 0.6% By Kevin Kastner WASHINGTON (MaceNews) – Retail sales rose only modestly in October, a much smaller increase than in previous months, the Commerce Department reported Tuesday. Total retail […]
DATA PREVIEW: RETAIL SALES PAYBACK DUE AFTER BRISK SEPTEMBER
By Kevin Kastner WASHINGTON (MaceNews) – A surprise jump in September retail sales, led by a surge in motor vehicle sales, was a blip in what appears to be a continued slowing trend in sales growth. October retail sales should rise only modestly when released next Tuesday following an outsized 1.9% jump in September. While […]