Category: Economy

The trade deficit in goods and services came in at $74.6 billion in April, smaller than the consensus expected $76.5 […]

The ISM Non-Manufacturing index rose to 53.8 in May, well above the consensus expected 51.0. (Levels above 50 signal expansion; […]

The ISM Manufacturing Index declined to 48.7 in May, lagging the consensus expected 49.5. (Levels higher than 50 signal expansion; […]

One of our main contentions in recent months is that the Federal Reserve, by switching from a scarce reserve model […]

Personal income rose 0.3% in April (unchanged including downward revisions to prior months), versus a consensus expected 0.3%.  Personal consumption […]

Real GDP growth in Q1 was revised lower to a consensus expected 1.3% annual rate from a prior estimate of […]

Two reports on home prices arrived this morning, one for the Case-Shiller index and another from the FHFA (a government […]

New orders for durable goods rose 0.7% in April, versus a consensus expected decline of 0.8%.  Orders excluding transportation rose […]

New single-family home sales declined 4.7% in April to a 0.634 million annual rate, lagging the consensus expected 0.678 million. […]

Existing home sales declined 1.9% in April to a 4.140 million annual rate, lagging the consensus expected 4.230 million.  Sales […]

Back in 2008, the Federal Reserve made important changes in the way it handles monetary policy.  We’ve written about them […]

Industrial production remained unchanged in April (+0.1% including revisions to prior months), versus a consensus expected gain of 0.1%.  Utilities […]

Housing starts rose 5.7% in April to a 1.360 million annual rate, lagging the consensus expected 1.421 million.  Starts are […]

Retail sales were unchanged in April (-0.4% including revisions to prior months), lagging the consensus expected gain of 0.4%.  Retail […]

The Consumer Price Index (CPI) rose 0.3% in April, below the consensus expected +0.4%.  The CPI is up 3.4% from […]