Category Archives: United States

November Residential Construction, Industrial Production

Stronger Construction and Weaker Production Numbers Launch Fed Day November Housing Starts increased by 10.5 percent to a 1,173,000 unit annual rate. Permits for new residential construction increased by 11.0 percent to a 1,289,000 unit pace. Industrial Production fell by … Continue reading

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Comerica Economic Weekly

Economic data leading up to the Federal Open Market Committee meeting of next week was within expected ranges. The most significant data point of the week was the price of oil, which has now dropped to about $36 per barrel … Continue reading

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December 2015, Comerica U.S. Economic Update

Janet Yellen’s speech of September 24 articulated her views on inflation, concluding that below-2-percent inflation was attributable to special factors that would prove transitory. We assume that she still has that view. Even with oil prices now below $40 per … Continue reading

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Comerica Economic Weekly

U.S. payroll job growth for November was a little stronger than expected, coming in at 211,000 net new jobs. The unemployment was unchanged at 5.0 percent and average hourly earnings ticked up by 0.2 percent for the month. The solid … Continue reading

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November U.S. Employment, October International Trade

Solid Jobs Report Starts Countdown to Interest Rate Liftoff November Payroll Employment increased by 211,000 jobs, a little above consensus expectations. October and September payroll levels were revised up by a total of 35,000 jobs. The Unemployment Rate for November … Continue reading

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November ISM Non-Manufacturing, UI Claims, Fedspeak and ECB

Nuanced Data, More Manifestations of the Desynchronization of Global Monetary Policy The ISM Non-Manufacturing Index for November decreased more than expected to 55.9 percent. Initial Claims for Unemployment Insurance gained 9,000 to hit 269,000 for the week ending Nov. 27. … Continue reading

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Comerica Economic Weekly

U.S. economic data released in the middle of November was mixed. However, the Federal Reserve gave a clear signal in the minutes of the October 27-28 FOMC meeting that there is a good chance they will begin raising the fed … Continue reading

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Comerica Economic Weekly

It’s all about the Fed. This week, various Federal Reserve officials, including FOMC Chairwoman Janet Yellen, made non-committal statements bolstering financial market expectations of a December 16th fed funds rate hike. Meanwhile, European Central Bank President Mario Draghi hinted at … Continue reading

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November 2015, Comerica U.S. Economic Update

After two weaker-than-expected payroll job gains in August and September, job growth bounced back in October, with payrolls up a robust 271,000 for the month. The disappointing August and September payrolls total were also revised up by 12,000 jobs, not … Continue reading

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Comerica Economic Weekly

U.S. economic data released in the first week of November reinforced our view that the household sector is strengthening and will keep the overall economy expanding at a moderate rate into 2016 despite the drag from a consolidating energy sector … Continue reading

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