Category Archives: United States

March U.S. Employment

Another Solid Jobs Report. No Fooling! March Payroll Employment increased by a solid 215,000 jobs, just above expectations. The Unemployment Rate for March ticked up to 5.0 percent with strong recent gains in the labor force. Average Hourly Earnings increased … Continue reading

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March ADP Jobs, January Home Prices, Yellen Speech

Jobs Growth and House Prices Support U.S. Households, Yellen Dials Back Expectations The February ADP Employment Report showed a gain of 200,000 private-sector jobs. The January Case-Shiller U.S. National House Price Index was up 5.4 percent from a year earlier. … Continue reading

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February Income and Spending

Modest Income Growth Tempered by Declining Corporate Profits U.S. Personal Income increased by 0.2 percent in February, despite strong job growth. Real disposable income gained 0.3 percent for the month. Nominal Consumer Spending increased by just 0.1 percent in February … Continue reading

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Comerica Economic Weekly

March has been a better month for U.S. financial markets. Equity markets have now largely clawed back their January and early February losses. Long-term bond yields have increased, but not by as much as they would have without the downward … Continue reading

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From the Desk of Robert Dye

Taking Auto Sales Out for a Test Drive Data from the Bureau of Economic Analysis shows that U.S. light vehicles sales bottomed out in the Great Recession in February 2009, at a 9.0 million unit sales rate. Auto sales have … Continue reading

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Comerica Economic Weekly

This week’s economic news was dominated by the March 15-16 FOMC meeting, where the Fed decided, as expected, to leave the fed funds rate unchanged. Little forward guidance came from the Fed’s policy announcement or from Janet Yellen’s press conference. … Continue reading

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February Residential Construction, Consumer Prices, Industrial Production

Houses Started, Manufacturing Produced, Oil Up, Fed on Hold February Housing Starts increased by 5.2 percent to a 1,178,000 unit annual rate. Permits for new residential construction decreased by 3.1 percent to a 1,167,000 unit pace in February. The Consumer … Continue reading

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February Retail Sales, Producer Prices

Auto Sales Top Out as Energy Prices Bottom Out February Retail Sales declined by 0.1 percent, and January was revised down to -0.4 percent. Ex-auto Retail Sales also dipped by 0.1 percent as categories showed mixed results. The Producer Price … Continue reading

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Comerica Economic Weekly

Super Mario Draghi, President of the European Central Bank, announced a mix of actions by the ECB that are designed to boost credit availability and financial market liquidity in the European Union. Draghi’s bazooka, as it was called in the … Continue reading

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From the Desk of Robert Dye

Things Are (not so) Great Even before The Great Recession, things were getting really great. Economists had already coined the term “The Great Moderation” to describe the recent tendency of U.S. business cycles toward longer expansions. This is clearly evident … Continue reading

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