Monthly Archives: June 2013

Comerica Economic Weekly

Mixed data this week suggests that the Fed will not begin to back off the QE accelerator at their upcoming FOMC meeting this Tuesday and Wednesday Total retail sales increased by 0.6 percent in May, suggesting that the American consumer … Continue reading

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May Producer Price Index, Industrial Production, June Consumer Sentiment

 Data Suggests no QE3 Taper this Month The May Producer Price Index for Finished Goods increased by 0.5 percent, pushed by food and energy. The Core PPI for Finished Goods gained a sedate 0.1 percent in May. Industrial Production was … Continue reading

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May Retail Sales, April Biz Inventories, June UI Claims

Consumer Resilience Is a Wonderful Thing  May Retail Sales increased by 0.6 percent, boosted by stronger auto sales. Ex-auto Retail Sales gained 0.3 percent as gasoline sales dipped slightly. Business Inventories increased by 0.3 percent in April, after a 0.1 … Continue reading

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Plodding Through Mid-2013, More Push, More Pull

Themes for the U.S. economy have not changed significantly over the last month.  Monetary policy remains highly expansive, pushing on financial markets, while fiscal policy remains contractionary, pulling on federal government spending. Housing has emerged as a driver for the … Continue reading

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May ADP Employment, ISM Indexes, Auto Sales, April Trade and Construction

Caught Between the Push of Monetary Expansion and the Pull of Fiscal Tightening The ADP Employment Report for May showed a modest increase of 135,000 private sector jobs. The May ISM Manufacturing Survey PMI ticked down to a weak 49.0 … Continue reading

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