Topic: Business Conditions

Unit Auto Sales Rose for a Second Consecutive Month but Remain Weak

– August 3, 2022

“Light-vehicle sales rose again in July but remain well below pre-pandemic ranges. Inventory shows signs of stabilization recently, but prices continued to rise.” ~ Robert Hughes

Business Conditions

Private-Sector Job Openings and Quits Fall for a Third Consecutive Month

– August 2, 2022

“Private-sector job openings and quits fell for a third consecutive month in June, adding to the evidence of a weakening economy. The outlook remains highly uncertain.” ~ Robert Hughes

Business Conditions

July Manufacturing-Sector Survey Points to Slowing

– August 2, 2022

“The latest manufacturing survey suggests continued expansion but easing price pressures and uncertainty about the future. Persistently elevated price increases and an intensifying Fed policy tightening cycle remain risks to the outlook.” ~ Robert Hughes

Business Conditions

Consumer Sentiment Remained Near Record Lows in Late July

– August 1, 2022

“Consumer sentiment ticked up in July but remains near record lows and consistent with prior recessions. Inflation is a driver of weakening consumer attitudes and contributing to elevated risks. The outlook is highly uncertain.” ~ Robert Hughes

Business Conditions

Rising Prices Boost Durable-goods Orders in June

– July 28, 2022

“Manufacturers’ new orders rose again in June, but much of it is from price increases. Rising prices, Fed policy tightening, and global turmoil are sustaining elevated risks.” ~ Robert Hughes

Business Conditions

Weekly Initial Claims Continue to Trend Higher

– July 28, 2022

“Weekly initial claims fell, but the trend remains upward. Sustained elevated rates of price increases, Fed tightening, and a softening labor market are major risks for the economic outlook.” ~ Robert Hughes

Business Conditions

U.S. Posts Second Consecutive Drop in Real GDP

– July 28, 2022

“Real GDP fell for a second consecutive quarter, but real private domestic demand has performed better, and core PCE price increases decelerated. Fed tightening, the war in Ukraine, and upcoming elections remain risks to the outlook.” ~ Robert Hughes

Business Conditions

Consumer Confidence Continued to Weaken in July

– July 26, 2022

“Consumer expectations sank again in July, as fears of high inflation persist. Elevated price pressures, the fallout from Russian aggression in Ukraine, and an intensifying Fed tightening cycle increase risks for the economic outlook.” ~ Robert Hughes

Business Conditions

New Single-Family Home Sales Fall for the Fifth Time in Six Months

– July 26, 2022

“New-home sales fell in June, and inventories continued to surge. Elevated prices and rising mortgage rates are likely to weaken future demand.” ~ Robert Hughes

Business Conditions

Weekly Initial Claims Rise to an Eight-Month High

– July 21, 2022

“Weekly initial claims rose again, extending the recent upward trend. The combination of sustained elevated rates of price increases and softening labor market are becoming a major risk for the economic outlook.” ~ Robert Hughes

Business Conditions

Housing Continues to Crumble

– July 20, 2022

“Existing-home sales fell again in June with record-high prices and surging mortgage rates continuing to reduce affordability and push buyers out of the market. The outlook for housing is highly uncertain.” ~ Robert Hughes

Business Conditions

Single-Family Home Construction Retreat Continued in June

– July 19, 2022

“Housing starts and permits fell in June as demand weakened. Plunging homebuilder sentiment suggests a deteriorating outlook for housing.” ~ Robert Hughes