Author Archives: Daniel Sanabria

July PPI, August UI Claims

  Wholesale Inflation Weak, Claims Very Low The Producer Price Index for Final Demand decreased by 0.1 percent in July. Initial Claims for Unemployment Insurance gained 3,000 for the week ending August 5, to hit 244,000. Producer price inflation remains … Continue reading

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Jobs and Inflation and the Intersection of Monetary and Fiscal Policy

The U.S. job machine remains engaged. After a strong 231,000 net new payroll jobs were created in June, another 209,000 were created in July. In five of the first seven months of this year, more than 200,000 net new payroll … Continue reading

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Comerica Economic Weekly

Economic data for the week highlighted the strength of the U.S. labor market, and were consistent with moderate GDP growth in the third quarter. The ISM Non-Manufacturing Index for July eased to a still-positive 53.9, down from a strong 57.4 … Continue reading

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July U.S. Employment

July Payrolls Up by 209,000, Unemployment Rate Down to 4.3 Percent Payroll Employment increased by 209,000 jobs in July, exceeding expectations. The Unemployment Rate for June dipped back down to 4.3 percent. Average Hourly Earnings were up by 2.5 percent … Continue reading

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July ISM Non-MF Index, UI Claims

Broad Economic Indexes Eased in July The ISM Non-Manufacturing Index for July decreased to a still-positive 53.9. Initial claims for unemployment insurance fell by 5,000 for the week ending July 29, to 240,000. The ISM Non-Manufacturing Index for July eased … Continue reading

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July ADP Employment, Mortgage Applications

Private Sector Jobs Report Looks Good The July ADP Employment Report showed a solid net gain of 178,000 private sector jobs. Mortgage Applications fell by 2.8 percent for the last week of July. Based on today’s release of the July … Continue reading

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June Personal Income, Construction Spending, July ISM MF

Income Stagnant in June as Dividends Reset              U.S. Real Disposable Personal Income eased by 0.1 percent in June. The Personal Consumption Expenditure Price Index was unchanged for the month. Real Consumer Spending was also unchanged in June. Construction Spending dropped … Continue reading

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Comerica Economic Weekly

Economic data published in the last week of July showed moderate U.S. economic growth in Q2, likely setting up more of the same for Q3, and keeping the Federal Reserve on track for the beginning of balance sheet reduction this … Continue reading

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2017Q2 GDP, June Employment Cost Index

GDP Resumes Moderate Growth, as Expected. Employment Costs Edging Up Real Gross Domestic Product for 2017Q2 increased at a moderate 2.6 percent annualized rate. Worker Compensation increased by 2.4 percent for the 12 months ending in June. Real gross domestic … Continue reading

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Comerica Bank’s California Index Climbing Steadily

Comerica Bank’s California Economic Activity Index increased by 1.3 percentage points in May to reach 131.0. May’s reading is 47 points, or 56 percent, above the index cyclical low of 84.1. The index averaged 122.4 points in 2016, two and … Continue reading

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