DATA FLASH: US JULY RETAIL SALES WEAKER THAN EXPECTED, UP 1.2%
–Retail Sales Excluding Motor Vehicles Up 1.9%; Vehicle Sales Fall 1.2%–Nonfarm Productivity Surges Despite Output Decline; Workweek Drops–Industrial Production Rose 3.0%; Manufacturing, Utilities, Mining All Up–Preliminary August Michigan Sentiment Ticked Up to 72.8 From 72.5–Business Inventories Fall 1.1% in June, Business Sales Surge 8.4% By Kevin Kastner WASHINGTON (MaceNews) – Retail sales rose further in […]
FED’S ROSENGREN: SLOWDOWN EVIDENT IN HIGH-FREQUENCY DATA LIKELY TO CONTINUE
–‘Inconsistent’ Efforts by States Likely to Prolong Downturn NEW YORK (MaceNews)- Signs of slowing evident in recent high-frequency data are likely to persist and states are not doing enough to control the virus, Boston Fed President Eric Rosengren said Wednesday. Rosengren, in remarks for delivery at an online event hosted by the South Shore Chamber […]
DATA FLASH: US JULY CPI SURGED 0.6%, ECHOING PPI INFLATION
–Core Prices Jump 0.6%; Ex. Only Energy, CPI Rose 0.5%.–Energy Prices Rose 2.5%, Food Prices Down 0.4% By Kevin Kastner WASHINGTON (MaceNews) – Following Tuesday’s surprisingly large gains in business prices, there was a question of whether those prices rebounds would feed down to the consumer level. That was answered Wednesday morning with an extraordinarily […]
FED’S BARKIN: NEED FISCAL PACKAGE TO SUPPORT US CONSUMER, RECOVERY
NEW YORK (MaceNews)– Consumer spending and the economic recovery are vulnerable if Congress and the president fail to deliver another round of federal relief spending,Richmond Fed President Thomas Barkin said Tuesday. Barkin, responding to questions during an online event hosted by the Center for Regional Competitiveness, said consumption, especially by blue-collar workers with a high […]
GERMANY’S ECONOMIC OUTLOOK IMPROVES IN AUGUST, BEATING EXPECTATIONS
ZURICH (MaceNews) – The outlook for Germany’s economy improved in August after a modest decline the previous month, surpassing expectations for a slight decline from the previous month, while the assessment of the current situation was slightly worse. The ZEW indicator of economic sentiment for Germany rose to 71.5, an improvement of 12.2 points from […]
DATA FLASH: US INITIAL CLAIMS DECLINE, BUT OUTLOOK REMAINS UNCLEAR
––Initial Claims -249,000 to 1.186 Mln, Lowest Under COVID But Still Brisk–-Challenger Reports Layoffs Jump in July on COVID-19 Resurgence By Kevin Kastner WASHINGTON (MaceNews) – As Congress debates the fate of the extended jobless claims program, initial claims fell by 249,000 in the August 1 week to a level of 1.186 million, well below the […]
BOE HOLDS POLICY, KEEPS SUB-ZERO RATES UNDER REVIEW DESPITE CONSUMER RECOVERY
— Bank predicts 18% gain in Q3 GDP By Laurie Laird LONDON (MaceNews) – The Bank of England maintained its current policy stance at its latest rate setting meeting, but admitted that negative interest rates remain under review, despite forecasting a sharp economic rebound in the third quarter. Bank forecasters predict an 18% surge in […]
STATUS CHECK: MUDDLED, MURKY – STILL WEEKEND VIRUS RELIEF SUCCESS EXPECTED
WASHINGTON (MaceNews) – The following is Tuesday’s status check of developments in the U.S. that can influence economic, health and political outcomes: · The general public, the markets, social service providers, food pantries and shelter providers were left reading between the lines Tuesday as they tried to decode the scant signals being sprinkled like bread crumbs […]
STATUS CHECK: TREASURY TO BORROW $1 TRILLION MORE, OR MAYBE $2 TRILLION
WASHINGTON (MaceNews) – The following is Monday’s status check of developments in the U.S. that can influence economic, health and political outcomes: · Phase 4 or otherwise known as the next corona virus relief legislation is slowly – very slowly – coming together on Capitol Hill, with two and a half hours of talks Monday […]
CHI FED’S EVANS: FED CAN’T MAKE WORKPLACES SAFE
–Economic Activity Seems to be Leveling Off By Suzanne Cosgrove CHICAGO (Mace News) — Chicago Federal Reserve President Charles Evans, hosting a virtual roundtable for news media Monday, said that while the second-quarter gross domestic product was the worst on record, declining at an annualized rate of 32.9 percent, with about 18 million unemployed workers, […]