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Category Archives: United States
Comerica Economic Weekly
U.S. economic data at the close of the first quarter was mixed, consistent with the view that economic momentum continued through the quarter, but conditions remain far from normal in part due to ongoing uncertainty about fiscal tightening and other … Continue reading
Posted in United States, Weekly
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February Income and Spending
Income Still Distorted by Tax Changes, Spending Solid U.S. Personal Income increased by 1.1 percent in February after declining by 3.7 percent in January. Real Disposable Personal Income gained 0.7 percent after declining by 4.0 percent in January. Real … Continue reading
Posted in Daily, United States
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March Durable Goods and Consumer Confidence, Feb. New Home Sales, Jan. House Prices
Mixed Data Suggests Ongoing Momentum, but Also Ongoing Uncertainty March New Orders for Durable Goods gained 5.7 percent as aircraft orders rebounded. The Conference Board’s Consumer Confidence Index fell sharply in March to 59.7. New Home Sales for February fell … Continue reading
Posted in Daily, United States
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Comerica Economic Weekly
The tail of the Euro zone wagged the dog this week as economically small Cyprus drove the financial news cycle. Cypriot banks, under pressure from failing loans to Greek and other businesses, are dependent on support from the European … Continue reading
Posted in United States, Weekly
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U.S. Economy Maintains Momentum As Fiscal Headwinds Increase
The federal spending sequester took effect March 1. The $85 billion reduction in federal defense and nondefense discretionary spending for FY2013 is expected to exert about a 0.6 percent drag on real GDP growth for 2013. This adds to the … Continue reading
Comerica Economic Weekly
Labor market data for February was better than expected. The official Bureau of Labor Statistics report showed a solid gain of 236,000 payroll jobs for the month. Job growth was broad-based, however, the government sector was a drain, subtracting 10,000 … Continue reading
Posted in United States, Weekly
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February U.S. Employment
Solid Hiring is the Antidote to Fiscal Tightening The February Payroll Employment Survey showed a solid gain of 236,000 jobs, beating expectations. The Unemployment Rate for February decreased to 7.7 percent, the lowest since December 2008. Average Weekly Hours … Continue reading
January International Trade, February ADP, March UI Claims
Trade Gap Widens as Exports Cool, Labor Data Is Positive The U.S. International Trade Gap widened in January to -$44.4 billion as exports cooled. Private Nonfarm Employment increased by 198,000 jobs in February according to the ADP survey. Initial … Continue reading
Posted in Daily, United States
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Comerica Economic Weekly
Housing related data continues to be positive. The Case-Shiller 20-City House Price Index for December shows that almost all major metro areas tracked saw consistent gains in house prices at the end of 2012. The 20-city composite index was up … Continue reading
Posted in United States, Weekly
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Comerica Economic Weekly
U.S. economic data for January continues to be fairly benign, masking some issues that will show up more in February. Price indexes do not yet reflect higher petroleum prices. Even as retail gasoline prices climbed, the energy price components of … Continue reading
Posted in United States, Weekly
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