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“Consumer expectations improved in December, boosting overall consumer confidence. Continued expansion remains the likely course, but threats from waves of new Covid cases remain elevated.” ~ Robert Hughes
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“Housing permits rose in November, offering some evidence that demand for housing may remain elevated. Rising home prices and potentially higher mortgage rates may be headwinds for demand while elevated commodity costs remain a challenge for homebuilder profits.” ~ Robert Hughes
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“Weekly initial claims for unemployment benefits rose slightly from a multidecade low though the four-week average continued to trend lower. Combined with a near-record number of open jobs, the data show the labor market remains extremely tight. Labor shortages are likely to continue to hamper production across the economy, sustaining upward pressure on prices.” ~ Robert Hughes
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“Retail sales rose in November, hitting another record high and sustaining upward pressure on prices. However, there may be early signs of easing pressures in the not-too-distant future.” ~ Robert Hughes
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“Consumer sentiment rebounded in early December but remains depressed. Consumers are concerned about rising prices for many consumer goods and the impact of rising prices on future inflation-adjusted incomes.” ~ Robert Hughes
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“AIER’s Everyday Price Index posted its 12th consecutive increase in November, pushing the 12-month gain to the highest since 2008. Shortages of supplies and materials, logistical and supply chain issues, and labor problems are sustaining upward price pressures. Recurring waves of new Covid cases will likely compound the difficulties.” ~ Robert Hughes
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“The AIER Leading Indicators index held steady in November, coming in at a neutral 50 for a second month. The result suggests continued economic expansion, but with elevated risks due to sustained upward pressure on prices and recurring waves of new Covid cases.” ~ Robert Hughes
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“Weekly initial claims for unemployment benefits fell to a multidecade low. Combined with a record number of open jobs, the data show the labor market remains extremely tight. Labor shortages are likely to continue to hamper production across the economy, sustaining upward pressure on prices” ~ Robert Hughes
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“Job openings and quits remained very high in October. Enticing people back to work would help ease supply problems and reduce upward pressure on prices.” ~ Robert Hughes
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“Payrolls posted a disappointing gain in November. While the outlook is for continued recovery, difficulties hiring may restrain output growth, sustaining upward price pressures for a prolonged period.” ~ Robert Hughes
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“Light-vehicle sales fell again in November, remaining well below the pre-pandemic range. Component shortages continue to disrupt production causing record low inventories and surging prices.” ~ Robert Hughes
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“Weekly initial claims for unemployment benefits rose slightly from a multidecade low in the prior week. Regardless, claims remain low and the labor market remains very tight.” ~ Robert Hughes
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