Category Archives: United States

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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From the Desk of Robert Dye

Negative Interest Rates We had a timely question from a client today about negative interest rates. I hope that my answer may be beneficial for others as well. Q – Do you think the Fed will ever implement negative interest … Continue reading

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March 2016, Comerica U.S. Economic Update

The quality of U.S. economic data has shifted in recent weeks from being generally a little worse than expected to being generally a little better than expected. The February payroll data showed a strong 242,000 jobs added to the U.S. … Continue reading

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Comerica Economic Weekly

It feels like U.S. economic data is changing from a little worse than expected since the start of the year, to a little better than expected as we finish up the first quarter. We reflect this in our lower odds … Continue reading

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February U.S. Employment, January Trade

Strong Jobs Data Confirms Economic Momentum February Payroll Employment increased by a strong 242,000 jobs, well above consensus expectations. The Unemployment Rate for February was unchanged at 4.9 percent. Average Hourly Earnings dropped by 0.1 percent. Average Weekly Hours dipped … Continue reading

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