Tag Archives: retail

Winter Chill on Incomes Doesn’t Stop Spending

Disposable personal incomes edged down 0.2% in December, after being adjusted for inflation. A shortfall in farm income and a sharp moderation in wage gains in the service sector accounted for much of the weakness; the softness in the service sector was likely exacerbated by unusually harsh winter weather as the number of people unable [...]

Spending Continues to Outpace Incomes

Consumer spending rose 0.5% in November after adjusting for inflation (which remained non-existent) after rising 0.4% in October. Once again, big-ticket spending dominated as consumers opted to replace older vehicles and appliances with financing deals rather than buy more traditional holiday gifts. Apparel and department stores have really lagged this holiday season;

More Questions than Answers in Jobs Data

Payroll employment surged a much larger-than-expected 204,000 in October and was revised up for the previous two months by 60,000. That brings the 12-month moving average on payroll employment up to 190,000, close to the Federal Reserve’s implicit 200,000 jobs-per-month threshold to consider beginning a tapering of asset purchases. That said, almost half the gains [...]

Employment Disappoints

Payroll employment rose a less-than-expected 162,000 in July and was revised down by 26,000 for the previous two months. That is more consistent with the lackluster economic growth that we have seen since the start of the year. Moreover, the composition of employment gains remains less than stellar, with many of the gains concentrated in [...]

Employment Report Confirms Moderation in Growth

CNBC asks Diane Swonk to explain the latest employment data. Payroll employment in the month of May rose by 175,000, which was more than most expected. Revisions to both March and April, however, showed a downward adjustment of 12,000. In general, employment growth has moderated from a 207,000 +  per month pace in the October [...]

ISM Services Index Expands at Slower Pace in October

The Institute for Supply Management (ISM) services index dropped 0.9 points to 54.2 in October from September, which suggests that the non-manufacturing sector continued to expand but at a more moderate pace over the period. New orders or bookings moderated, while employment picked up.