Category Archives: United States

January Residential Construction, February UI Claims

Single-Family Rising, Multifamily Heading into Third Year Range-Bound Housing Starts dipped in January by 2.6 percent to a 1,246,000 unit annual rate. Permits for new residential construction increased by 4.6 percent to a 1,285,000 unit pace in January. Initial Claims … Continue reading

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January Retail Sales, Consumer Price Index, Industrial Production

 Consumers Undeterred by Higher Prices January Retail Sales increased by 0.4 percent, boosted by higher gasoline prices. Retail Sales Ex-Autos increased by 0.8 percent in January. The Consumer Price Index gained 0.6 percent in December, on higher energy prices. Industrial … Continue reading

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January PPI, Small Business Confidence, Fedspeak

Producer Prices Hotter than Expected, Fed Hike Earlier? The Producer Price Index for Final Demand increased by a greater-than-expected 0.6 percent in January. Core Producer Prices gained a calmer 0.2 percent. The NFIB’s Small Business Optimism Index remained high, at … Continue reading

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Comerica Economic Weekly

It was a light week for U.S. data but rumblings from Washington elevated the stock market. President Trump suggested that the framework of his proposed tax overhaul would be made public soon. Also, deregulation was in the news with discussion … Continue reading

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Positive Start to 2017, But Jobs Data Didn’t Add Up

U.S. economic data at the start of the first quarter is positive and consistent with real GDP growth in the neighborhood of 2.0-2.5 percent. Job growth in January was better than expected as 227,000 net new payroll jobs were added … Continue reading

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Comerica Economic Weekly

It was a busy week for U.S. economic data, the majority of which was positive and consistent with an ongoing moderate economic expansion through the first quarter of 2017. The big non-news for the week was the Federal Reserve monetary … Continue reading

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January U.S. Employment, ISM Non-Manufacturing

 Job Growth Better Than Expected but Wage Gains Tepid Payroll Employment increased by 227,000 jobs in January, exceeding expectations. The Unemployment Rate for January ticked up again, to 4.8 percent. Average Hourly Earnings increased by just 0.1 percent for the … Continue reading

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January ADP Jobs, ISM-MF, Dec. Construction Spending, Nov. Home Prices

Strong Data Suggest Good Start to 2017 for U.S. Economy The January ADP Employment Report showed a strong gain of 246,000 private-sector jobs for the month. The ISM Manufacturing Index for January increased to 56.0, showing improving manufacturing conditions. Construction … Continue reading

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December Income and Spending

 Consumers Continue to Do Their Part U.S. Personal Income increased by 0.3 percent in December. After inflation and taxes, Real Disposable Income increased by 0.1 percent in December. Nominal Consumer Spending increased by 0.5 percent in December The PCE Price … Continue reading

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Comerica Economic Weekly

U.S. economic data released over the last week of January was generally positive, although 2016Q4 real GDP growth was weaker than expected. International data was also supportive. The first estimate of 2016Q4 real GDP growth came in at 1.9 percent … Continue reading

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