DATA FLASH: US INITIAL CLAIMS SLOW FURTHER; APRIL TRADE GAP WIDENS
-–Initial Claims -249,000 to 1.877 Mln; 38.8 Mln Total Under COVID–-Int’l Trade Gap $49.4 Bln vs $42.3 Bln In March; China Gap Surges-–Nonfarm Productivity Rev Up to -0.9%, Unit Labor Costs Rev Up to +5.1%. By Kevin Kastner WASHINGTON (MaceNews) – The U.S. initial claims data came in above expectations Thursday but still posted a ninth […]
SIFMA SURVEY: ’20 GDP -5.5%; ’21 +4.7%; NO NEGATIVE RATES
NEW YORK (MaceNews) – A survey of 26 chief economists of global and regional financial institutions Tuesday saw U.S. fourth quarter to fourth quarter GDP falling 5.5% this year and rebounding strongly next year with a 4.7% gain. The survey, taken through May 28, also found no expectation for the Federal Reserve to purposely employ […]
PRES TRUMP CLEARS PATH THROUGH PROTEST TO STAND AT ST. JOHN CHURCH
–‘Law and Order’ President Threatens Military Force Across Couintry By Denny Gulino WASHINGTON (MaceNews) – President Trump Monday posed with a Bible at a vandalized church across the street from the White House along with his defense secretary and attorney general declaring he is ending rioting and arson even if it takes active military force. […]
DATA FLASH: US MANUFACTURING CONTRACTION SLOWED IN MAY
-April Construction Spending Declined, As Suggested by Housing Data By Kevin Kastner WASHINGTON (MaceNews) – The May ISM index Monday showed U.S. manufacturing sector activity contracted further, but at a slower pace, in line with the regional and Markit data. Survey respondents in the ISM report noted while COVID-19 continues to weigh heavily on business […]
DATA PREVIEW: AFTER A 20M JOBS DROP, WHAT’S NEXT?
By Kevin Kastner WASHINGTON (MaceNews) – The U.S. April data were, in a word, horrible. There was no silver lining, except that it was, hopefully, the worst we will see and that some relative recovery began over last few weeks. The May business conditions data already released continued their downward trend, but the pace of […]
DATA FLASH: APRIL INCOME LIFTED BY STIMULUS, BUT NO PLACE TO SPEND
–US April Personal Income +10.5%, Transfer Payments +89.6% on Stimulus–Savings Rate 33.0%, Nominal PCE -13.6%, Real PCE -13.2%, Core Prices -0.4%–May Chicago PMI Falls to 32.3 from 35.4 in April–May Michigan Sentiment Index Revised Down to 72.3 After 71.8 in April By Kevin Kastner WASHINGTON (MaceNews) – Personal income surged in April on the large […]
DATA PREVIEW: US REGIONAL DATA, CONFIDENCE KEY RELEASES
By Kevin Kastner WASHINGTON (MaceNews) – The May 25 week starts off with the Memorial Day holiday, but it quickly speeds up from there. Regional conditions data for May are the highlight of the week, with reports from the Philadelphia, Dallas, Richmond and Kansas City Federal Reserve banks and the Chicago PMI on tap ahead […]
FED’S CLARIDA: HAVEN’T CHANGED MIND VS NEGATIVE RATES
NEW YORK (MaceNews) – Federal Reserve Vice Chair Richard Clarida Thursday said he has not changed his mind, that there’s no upside to purposely move to negative rates. Speaking in a webinar sponsored by the New York Association for Business Economics, Clarida also underlined the points made Wednesday and previously by Fed Chair Jay Powell, […]
DATA FLASH: US INITIAL CLAIMS SLOW; EXISTING HOME SALES PLUNGE
–Initial Claims -249,000 to 2.438 Mln; 35.3 Mln Unadjusted Under COVID–May Philly Fed Manufacturing Index Improved to -43.1 From -56.6 in April–April Existing Home Sales Fell to 4.33 Mln from 5.27 Mln In March By Kevin Kastner WASHINGTON (MaceNews) – The U.S. data released on Thursday were a mixed bag, with data for May showing […]
WHITE HOUSE WATCH COMMENTARY: AN INCONSEQUENTIAL VIRUS OBITUARY
By Denny Gulino WASHINGTON (MaceNews) – With by one count 93,382 deaths blamed on the corona virus through Wednesday, each one a life-altering tragedy for a family, there is hardly any point chronicling the death of an inanimate process which few could care about or should. Yet the passing of the early morning ritual of […]