Category Archives: United States

April Residential Construction, May Home Builders Survey

Housing Started but Builders Balked April Housing Starts increased by a strong 20.2 percent to a 1,135,000 unit annual rate. Permits for new residential construction climbed in April by 10.1 percent to a 1,143,000 unit pace. The National Association of … Continue reading

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Comerica Economic Weekly

It was a another week of softer-than-expected U.S. data. Our view is that this is a transitional economy right now. The drivers of the U.S. economy through the post-recession recovery phase are giving way to a new set of drivers … Continue reading

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May 2015, Comerica U.S. Economic Update

You never cross the same river twice. This also is true of the complex adaptive system known as the U.S. economy; it is always changing. As we muddle through the current business cycle, three distinct economic periods are apparent. First … Continue reading

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Comerica Economic Weekly

This week’s economic data was mixed, but directionally positive. Backward looking trade data, with implications for Q1 GDP was negative, while forward looking data was positive. Labor data is looking better, suggesting gains in consumer spending later this year. Job … Continue reading

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April U.S. Employment

Hiring Bounces Back in April, Unemployment Rate Drops to 5.4 Percent April Payroll Employment bounced back to show a gain of 223,000, as March was revised down to +85,000. The Unemployment Rate for April fell to 5.4 percent. Average Weekly … Continue reading

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Comerica Economic Weekly

This week’s economic scene was dominated by what did not happen. The Federal Reserve did not clear the fog around interest rate expectations. First quarter GDP, March personal income and the April ISM MF Index did not do much of … Continue reading

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March Income and Spending, Q1 Employment Costs, April UI Claims, Fed

Unconvincing Data Keeps Fed on Hold S. Personal Income was unchanged in March. After taxes and inflation it dipped 0.2 percent. Real Consumer Spending increased by 0.3 percent in March as auto sales rebounded. The Employment Cost Index continued to … Continue reading

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2015Q1 GDP, February House Prices, April Consumer Confidence

First Quarter Real GDP Growth Meager at 0.2 Percent Real Gross Domestic Product growth for 2015Q1 registered a barely positive2 percent annual rate. The Case-Shiller U.S. House price index gained4 percent in February, up 4.2 percent for the year. The … Continue reading

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Comerica Economic Weekly

The pushes and pulls on the U.S. economy are coming from multiple directions, adding to a sense of uncertainty that threatens to paralyze policy makers. Among the negatives are a stronger dollar and weakening oil patch, both headwinds for U.S. … Continue reading

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March Home Sales, April UI Claims

New Home Sales Reset in March, but Trend Looks Good New Home Sales for March decreased by 11.4 percent to an annual rate of 481,000 units. March Existing Home Sales increased by 6.1 percent, to a 5,190,000 unit annual rate. … Continue reading

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