Manufacturing-Sector Contracts Again in December
“The latest manufacturing survey suggests broad weakness and falling price pressures for manufacturers. The outlook remains highly uncertain. Caution is warranted.” ~ Robert Hughes
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Private-Sector Job Openings Remain High Despite a Second Consecutive Decline
“Private-sector job openings fell in November but remain high, suggesting an ongoing labor shortage. However, the outlook remains highly uncertain.” ~ Robert Hughes
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Consumer Inflation Expectations Fell Sharply in December
“Consumer sentiment improved in December but remains at recessionary levels. Inflation expectations fell sharply, and long-run expectations remain well anchored.” ~ Robert Hughes
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New Home Sales Rose Again in November, But the Outlook Remains Cautious
“New-home sales rose in November but remain below its long-term average. High prices, bloated inventory, and elevated mortgage rates suggest a poor outlook.” ~ Robert Hughes
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Durable-Goods Orders Declined in November
“Durable-goods orders fell in November while growth in real durable-goods orders and real core capital goods orders remains modest.” ~ Robert Hughes
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Consumer Services Push Revised Third Quarter GDP Higher
“Headline real GDP growth was revised higher in the third quarter, but domestic demand growth remained soft. Caution is warranted.” ~ Robert Hughes
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Existing Home Sales Continue to Plunge
“Existing-home sales fell again in November as reduced affordability pushes buyers out of the market. The outlook for housing remains unfavorable.” ~ Robert Hughes
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Consumer Confidence Rose and Inflation Expectations Fell in December
“Consumer confidence rebounded in December, but consumer expectations remain at recessionary levels. An aggressive Fed tightening cycle, elevated price pressures, and the fallout from the Russian war in Ukraine remain risks for the economic outlook.” ~ Robert Hughes
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New Home Construction Outlook Remains Weak
“New housing permits fell again in November as low affordability suppresses demand. Very low homebuilder sentiment suggests an unfavorable outlook for housing.” ~ Robert Hughes
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Retail Sales Post Broad-based Declines in November
“Nominal and real retail spending fell in November, and trends remain weak. Risks for the economic outlook remain elevated. Caution is warranted.” ~ Robert Hughes
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Manufacturing Sector Declines in November
“Industrial-sector output fell in November. Elevated price pressures, weak consumer sentiment, and an aggressive Fed tightening cycle remain risks. Caution is warranted.” ~ Robert Hughes
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Initial Unemployment Claims Fall While Continuing Claims Jump
“Initial claims fell to a three-month low while continuing claims jumped to an eight-month high. Elevated consumer price increases and aggressive Fed tightening remain major risks for the economic outlook.” ~ Robert Hughes
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