Manufacturing Construction Spending Drops in January
The Census Bureau announced that construction spending fell 0.1 percent in January, reversing the stronger 1.9 percent and 1.4 percent gains in November and December. Private sector construction was...
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Weekly Economic Report – March 5
Two narratives dominated last week’s economic discussion. First, as the Beige Book from the Federal Reserve Board stated, the economy “continued to increase at a modest to moderate pace in January and...
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ADP Reports 10,000 Additional Manufacturing Workers in January
According to Automated Data Processing (ADP), manufacturers added 21,000 net new employees in February, up from an increase of 16,000 in each of the past two months. This suggests that the stronger...
View ArticleConsumer Credit Surges in January Despite Lower Revolving Balances
The Federal Reserve Board reported that consumer credit increased $17.8 billion in January to $2,512.3 billion. This is the fifth consecutive month of gains, with strong increases in the last three....
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Manufacturers Added 31,000 Jobs in February, Unemployment Rate Remains 9.3...
The U.S. economy added 227,000 net new jobs in February, according to the Bureau of Labor Statistics. This was a stronger-than-expected increase, but it was still below the revised gain of 284,000 in...
View ArticleExports Lower on Slowing Global Growth in January
The Bureau of Economic Analysis and the Census Bureau reported that the U.S. trade deficit grew from $50.4 billion in December to $52.6 billion in January. Americans imported $233.4 billion in goods...
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Weekly Economic Report – March 12
With consumers and businesses more confident, the U.S. economy continues to expand modestly. An improved – but still weaker-than-desired – jobs picture is part of that. The U.S. added 227,000 net new...
View ArticleRetail Sales Were Stronger in February Largely on Autos and Gasoline
The Census Bureau reported that retail sales rose much faster in February than in recent months, up 1.1 percent. This was the fastest pace since September, with January sales increasing 0.6 percent (a...
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Manufacturing Job Openings Increase in January
The Bureau of Labor Statistics (BLS) observed a higher number of job openings in January in the manufacturing sector, according to new Job Openings and Labor Turnover (JOLTS) data. Manufacturers posted...
View ArticleThe Federal Reserve Makes No Changes to Monetary Policy
The Federal Reserve Board’s Federal Open Market Committee (FOMC) maintained its existing monetary policy actions, as announced in its statement released this afternoon. Much of the wording of this...
View ArticleReport Shows Positive Outlook for Manufacturing in the U.S.
According to a report released today, manufacturers in the United States will continue to benefit from increased investments – many of which might have gone elsewhere in previous years. The report,...
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