Economic Update July 5, 2022 Economic data for the week included U.S. GDP for the first quarter being revised down slightly, while personal income and spending have remained relatively strong. Durable goods and home prices also showed higher readings, the ISM manufacturing survey showed expansion but at a lower rate, while consumer sentiment has continued […]

Economic Update June 27, 2022 Economic data for the week included a drop in existing home sales offset by stronger sales for new homes. Consumer sentiment fell to an all-time low, although long-term inflation expectations improved (declined) from an earlier report. Global equity markets recovered sharply last week with sentiment improving, as inflation may be […]

Economic Update June 20, 2022 Economic news for the week included the Federal Reserve raising interest rates sharply in their fight with inflation. Data was mixed, with the index of leading economic indicators and retail sales softer, while industrial production improved. Producer prices remained high, but showed some deceleration. Housing starts and sentiment continued to […]

Economic Update June 13, 2022 Economic data for the week included consumer price inflation coming in high in keeping with expectations. Consumer sentiment remains challenged, at its lowest levels in decades, due to high inflationary pressures, notably with gasoline. Jobless claims were little changed, when adjusted for seasonal effects. Global equity markets fell back last […]

Economic Update June 6, 2022 Economic data for the holiday-shortened week included a rise in manufacturing sentiment and small drop in services sentiment, despite both remaining solidly expansionary. House prices continued to increase at a dramatic pace. The May employment situation report outpaced expectations, although results were not as strong as in recent months. Global […]

Economic Update May 30, 2022 Economic data for the week included a slight downward revision in first quarter GDP, positive durable goods orders, along with weaker new home sales data and consumer sentiment. Global equity markets rose broadly last week, with U.S. stocks outperforming foreign. Bonds also fared positively, with interest rates pulling back upon […]

Economic Update May 23, 2022 Economic data for the week included gains in retail sales and industrial production. On the other hand, regional manufacturing sentiment fell back, as did several housing metrics as activity slowed along with historically-low residential home inventories. Global equities were mixed on the week, with U.S. stocks down sharply once again, […]

Economic Update May 17, 2022 Economic data for the week included higher readings for the producer price and consumer price indexes—continuing a trend of higher inflation. However, import prices saw some relief. Continuing jobless claims fell further to very low levels, indicating labor market strength. Global markets fell back sharply last week, as volatility amidst […]

Economic Update May 9, 2022 Economic data for the week included the Federal Reserve raising short-term interest rates by a half-percent, an amount not seen in over two decades. The employment situation report for April continued to show a strong improvement in jobs, while the unemployment rate remained unchanged at a tight level. ISM manufacturing […]

Economic Update May 2, 2022 Economic data for the week included a surprisingly negative U.S. GDP result for the first quarter. Housing data was mixed, with slower sales, but home prices reached record highs. Consumer sentiment fell back a bit, but durable goods rose, and jobless claims remained positive, and near multi-decade lows. Global equity […]