Category Archives: United States

June U.S. Employment

June Payrolls Up by a Strong 222,000, Unemployment Rate Ticks Up to 4.4 Percent Payroll Employment increased by 222,000 jobs in June, above expectations. The Unemployment Rate for June increased slightly to 4.4 percent. Average Hourly Earnings increased by 0.2 … Continue reading

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June ADP Jobs, ISM Non-MFG Index, UI Claims, May International Trade

Job Growth Shifting Down from High Gear The June ADP Employment Report showed a moderate net gain of 158,000 private sector jobs. Initial Claims for Unemployment Insurance increased by 4,000 for the week ending July 1, to hit 248,000. The … Continue reading

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Comerica Economic Weekly

Economic data this week are again consistent with a moderate rebound in U.S. GDP growth for the nearly complete second quarter. First quarter real GDP growth was revised up slightly to a modest 1.4 percent annualized rate. This is still … Continue reading

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Comerica Economic Weekly

We attended the semi-annual meeting of the Economic Advisory Council of the American Bankers Association this week in Washington DC. This is a meeting of chief economists of major U.S. banks and financial institutions. The consensus expectation of this group … Continue reading

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Comerica Economic Weekly

We saw several important data releases this week and significant action and non-action by central banks. U.S. economic data for the week was generally softer than expected. However, data are still supportive of an increase in GDP growth in the … Continue reading

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May Industrial Production, June UI Claims, Regional Manufacturing, Builders

Production Stalls after April Surge Industrial Production was unchanged in May as vehicle assemblies declined. Initial Claims for Unemployment Insurance dipped by 8,000 for the week ending June 10, to hit 237,000. Industrial production for May was unchanged after surging … Continue reading

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Federal Reserve Monetary Policy

 Fed Raises Short-Term Interest Rates 25 Basis Points As Expected The Federal Reserve raised the target range of the fed funds rate by 25 basis points. The new Dot Plot remains consistent with three 25 basis point rate hikes in … Continue reading

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May Retail Sales, Consumer Price Index, Producer Price Index

Soft Pricing Contributes to Soft Spending in May May Retail Sales decreased by 0.3 percent, as gasoline prices fell. The Consumer Price Index fell by 0.1 percent in May, as the energy price index declined by 2.7 percent. The Producer … Continue reading

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An Important Summer is Shaping Up in Washington

They say “Sell in May, and go away.” However, if you do that this year you are likely to miss a lot. The upcoming June 13/14 Federal Open Market Committee meeting is shaping up to be eventful. Also, the Trump … Continue reading

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Comerica Economic Weekly

U.S. data releases this week were capped by a weaker-then-expected payroll employment gain in May, according to the BLS. However, other labor market indicators were solid. May payrolls expanded by 138,000 according to the BLS. The pace of U.S. job … Continue reading

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