Tag Archives: consumer
The overall economy expanded at a 2.3% pace in the second quarter after rising at an upwardly revised 0.6% pace in the first quarter. Benchmark revisions, which incorporate new data and attempt to deal with the first quarter seasonal problems, helped to smooth the path of growth in recent years.
Housing starts rebounded to a 1.174 million-unit pace in June, while the decline for May was slightly less than initially reported. Gains were concentrated in the multi-family market as builders are still rushing to meet what they see as a permanent shift by millennials to move to urban centers and delay marriage and having children; [...]
The Consumer Price Index (CPI) rose 0.4% in May, driven by a sharp increase in prices at the pump. The overall index, however, remained unchanged from a year ago
Retail sales jumped 1.2% in May from April as hibernating consumers emerged from their caves. Vehicle sales fueled overall gains but were not as strong as we expected, given the near-record, 17.8 million-unit, annualized pace we saw for the month. Incentives were sweetened to drain dealer inventories. Some of the gains we saw also likely [...]
Income growth jumped a better-than-expected 0.4% in April. Disposable income rose a slightly more moderate 0.3%. All of those gains, however, were saved as consumers essentially tread water in terms of spending during the month. Indeed, spending actually dropped slightly,
Real GDP fell by 0.7% in the first quarter, almost one percent lower than initial estimates. The bulk of the slowdown may be attributed to a smaller-than-initially-reported buildup in inventories, slower consumer spending and stronger imports. The only upside revision was to residential investment, which reflects the glimmer of light we have seen in housing [...]
The Consumer Price Index edged up a modest 0.1% in April, with retreating energy prices offsetting some of the increase in services. Core CPI (non- food and non-energy) rose a more than expected 0.3% in April. Almost all of the acceleration in inflation could be traced to the medical services component, which has been decelerating [...]
Industrial production dropped 0.3% in April. The decline for March was not as severe as originally reported, but still lower. Losses in the mining and utilities sector are driving the drop in industrial production. That said, the weakness was broad-based
The headline numbers in the Consumer Price Index (CPI) rose 0.2% in March, buoyed by higher energy prices, mainly motor fuel, which rose 3.9% in March.