February Payrolls Jump but Details Are Less Robust
“Payrolls posted a big gain in February, but breadth was modest across the economy and many labor measures are still well below pre-pandemic levels.” – Robert Hughes
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Initial Claims Remain Range Bound
“Initial claims fell in the latest week, but overall remain range bound, suggesting the labor market remains soft.” – Robert Hughes
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Light-Vehicle Sales Decreased in February
“Light-vehicle sales fell in February, falling below the recent range. The decline was led by a sharp drop in domestic car sales.” – Robert Hughes
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More Positive News for the Manufacturing Sector
“The manufacturing-sector recovery continues, though output remains slightly below pre-pandemic levels.” – Robert Hughes
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Lower Income Households Pull Down Consumer Sentiment in February
“Consumer sentiment fell in February, driven by a weaker economic outlook, especially among lower-income consumers.” – Robert Hughes
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Government Transfer Payments Distort Personal Income in January
“Personal income jumped in January as government payments surged but excluding government distortions, incomes fell.” – Robert Hughes
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Core Capital-Goods Orders Hit Another Record High in January
“Manufacturers’ new orders for durable goods rose in January, with core capital goods hitting another record high. The strong showing is a positive sign for the overall outlook.” – Robert Hughes
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Initial Claims Fall to the Lowest Level Since November
“Initial claims fell to the lowest level since November, but overall, data suggest the labor market remains fragile.” – Robert Hughes
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Housing Surge Continues as New Single-Family Home Sales Rise Again in January
“The single-family housing market remains a bright spot for the economy, supported by low interest rates and strong demand, but headwinds may be forming.” – Robert Hughes
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Consumers Remained Cautiously Optimistic in February
“Consumer attitudes improved slightly in February, led by improving current conditions, but overall measures of consumer confidence remain at historically moderate levels.” – Robert Hughes
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Housing Permits Surge in January
“The housing market continues to be a bright spot for the economy, supported by low mortgage rates and increased demand.” – Robert Hughes
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Initial Claims Hold Above 800,000 for Sixth Consecutive Week
“Initial claims rose again, holding above 800,000 for the sixth consecutive week. Recent data suggest the labor market remains fragile.” – Robert Hughes
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