Author Archives: Daniel Sanabria

May Income and Spending, April Case-Shiller HPI

Another Solid Spending Report Supports Expectations of Stronger Q2 GDP  U.S. Personal Income increased by 0.2 percent in May. After inflation and taxes, Real Disposable Income gained 0.1 percent for the month. Nominal Consumer Spending increased by 0.4 percent in … Continue reading

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BREXIT

The World has Changed The consequences of BREXIT will be felt over years. The odds of a fed funds rate hike this year are significantly lower because of BREXIT. In a stunning rebuke to transnationalism, the citizens of the United … Continue reading

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Comerica Economic Weekly

U.S. data released this week were consistent with an economy that has warmed up a bit after a chilly Q1. Retail sales beat expectations for the second month, increasing in May by 0.5 percent. Already strong April retail sales growth … Continue reading

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May Consumer Prices, June UI Claims, Fed Policy, BREXIT

Warming Inflation, but Not Yet Hot, Warming BREXIT Too  The May Consumer Price Index increased by 0.2 percent with gains in energy prices. The May Core CPI also gained 0.2 percent, and was up 2.2 percent over the previous 12 … Continue reading

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May Retail Sales, NFIB Survey, Import Prices, April Inventories

Second Month of Solid Sales Supported by Gasoline May Retail Sales increased by 0.5 percent, after gaining 1.3 percent in April. Ex-auto Retail Sales improved by 0.4 percent, supported by gasoline station sales. The NFIB’s Business Optimism Index increased slightly … Continue reading

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Comerica Economic Weekly

Economists are still trying to digest the big miss in the May payroll data, when only 38,000 payroll jobs were added for the month. It was a light week for data, but three data releases from this week add to … Continue reading

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June 2016, Comerica U.S. Economic Update

Recent U.S. economic data has generally been positive. The very weak first quarter real GDP growth has been revised up from the initial estimate of 0.5 percent annualized, to 0.8 percent. We expect to see another minor upward revision to … Continue reading

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Comerica Economic Weekly

It was a short but interesting data-intensive week for the U.S. economy, starting out with a positive income and spending report for April and ending with a clunker of a jobs report for May. Income and spending data for April … Continue reading

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May U.S. Employment, April International Trade

Poor May Jobs Report Reduces Likelihood of June 15 Fed Rate Hike May Payroll Employment increased by just 38,000 jobs, the lowest since September 2010. The Unemployment Rate for May fell to 4.7 percent as the labor force declined sharply. … Continue reading

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May ADP Jobs, UI Claims, ISM MF, Auto Sales

Data Shows Better, But Not Great Q2, Maybe Not Enough for Fed in June The May ADP Employment Report showed a gain of 173,000 private-sector jobs. Initial Claims for Unemployment Insurance at the end of May fell by 1,000 to … Continue reading

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