Category Archives: United States

Comerica Economic Weekly

Since we had the holiday week last week, we will cover two weeks’ worth of U.S. economic data, which has been generally favorable. Expectations for the official payroll job numbers for November were boosted by a stronger-than-expected ADP Employment Report, … Continue reading

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November U.S. Employment

Positive Jobs Report Sets the Stage for December 14 Rate Hike Payroll Employment increased by 178,000 jobs in November. The Unemployment Rate for November dropped to 4.6 percent. Average Hourly Earnings decreased by 0.1 percent for the month, after a … Continue reading

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November ISM-MF Index, UI Claims, October Construction Spending

The ISM Manufacturing Index for November increased to 53.2 percent, showing improving conditions. Initial Claims for Unemployment Insurance increased by 17,000, to 268,000 for the week ending Nov. 26. Construction spending increased by 0.5 percent in October. The ISM Manufacturing … Continue reading

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Comerica Economic Weekly

U.S. economic data released in mid-November has been generally positive and consistent with growing expectations of a fed funds rate increase on December 14. In her prepared remarks for the congressional Joint Economic Committee, FOMC chair Janet Yellen said today … Continue reading

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October Industrial Production, Producer Prices

Production Stall Continues as Utility Output Falls, Producer Prices Flat Industrial Production for October was unchanged as utility output fell. The Producer Price Index for final demand was also unchanged in October. Industrial production for October was unchanged after dipping … Continue reading

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October Retail Sales, NY Fed

Consumers Bought Cars, Drove Them October Retail Sales increased by 0.8 percent, supported by autos and gasoline. Ex-auto Retail Sales also increased by 0.8 percent. Retail sales were solid in October, gaining 0.8 percent, after increasing by a strong 1.0 … Continue reading

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The Trump Presidency and the U.S. Economy

Expect Change, but Mind the Gap(s) Donald J. Trump won the presidential election with 290 electoral votes to Clinton’s 228. Trump received 47.3 percent of the popular vote to Clinton’s 47.8 percent. The House of Representatives remains in Republican control, … Continue reading

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Comerica Economic Weekly

It was a light week for economic data, but a tremendously weighty week for political events. The widespread expectation, supported by the majority of polling institutions, that Hillary Clinton would become the first female president of the United States, gave … Continue reading

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November 2016, Comerica Economic Outlook

U.S. Data Green Lights Fed for December Rate Hike After a weak first half of the year, third quarter real GDP growth improved to a 2.9 percent annualized rate. The inventory sell-off that weighed heavily on GDP growth in H1 … Continue reading

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Comerica Economic Weekly

U.S. economic data for the week fell reasonably close to expectations and did not alter our view of a fed funds rate hike on December 14. U.S. nonfarm payrolls increased by a net 161,000 jobs in October, a little shy … Continue reading

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