Robert Hughes

Senior Research Faculty

Robert Hughes joined AIER in 2013 following more than 25 years in economic and financial markets research on Wall Street. Bob was formerly the head of Global Equity Strategy for Brown Brothers Harriman, where he developed equity investment strategy combining top-down macro analysis with bottom-up fundamentals. Prior to BBH, Bob was a Senior Equity Strategist for State Street Global Markets, Senior Economic Strategist with Prudential Equity Group and Senior Economist and Financial Markets Analyst for Citicorp Investment Services. Bob has a MA in economics from Fordham University and a BS in business from Lehigh University.

Articles

1/12/22

Drop in Gas Holds AIER’s Everyday Price Index Down in December

“AIER’s Everyday Price Index was unchanged in December as falling motor fuels prices offset other gains. Despite waves of new Covid cases, progress boosting output is being made and that should eventually ease some price pressures.” ~ Robert Hughes

1/11/22

AIER Leading Indicators Index Remains Neutral for a Third Consecutive Month

“The AIER Leading Indicators index held steady again in December, coming in at a neutral 50 for a third month. The result suggests continued economic expansion but with elevated risks. Shortages of labor and materials continue to sustain upward pressure on prices but there may be some early signs of easing for some of those issues.” ~ Robert Hughes

1/7/22

Payrolls Recovery Remained Subdued in December

“Payrolls growth disappointed again in December. While the outlook is for continued recovery, difficulties hiring may restrain output growth, sustaining upward price pressures.” ~ Robert Hughes

1/6/22

Services-Sector Growth May Have Slowed in December

“The services sector expanded for the 19th consecutive month in December. While shortages of labor and materials are continuing to restrain output and sustain upward pressure on prices, some data suggest some pressures may be starting to ease.” ~ Robert Hughes

1/6/22

Weekly Initial Claims for Unemployment Benefits Remain Low as Labor Market Remains Tight

“Weekly initial claims for unemployment benefits have stabilized at a low level while continuing claims reflect the end of emergency programs. The labor market remains very tight.” ~ Robert Hughes

1/5/22

Unit Auto Sales Fell in December but Assemblies Rose in November

“Light-vehicle sales fell again in December, but assemblies rose in November. Record low inventories continue but in a possibly positive sign, prices ticked down.” ~ Robert Hughes

1/4/22

Private-Sector Job Openings Fell in November but Quits Surged

“Job openings fell but quits surged to a record in November. Enticing people back into the workforce could help ease supply problems and reduce upward pressure on prices.” ~ Robert Hughes

1/4/22

Manufacturing-sector Demand Remains Strong Amid Early Signs of Supply Chain Improvement

“Demand for manufactured goods remained strong in December. Production issues continue to restrain supply and sustain upward pressure prices, but there are early signs of progress on some issues.” ~ Robert Hughes

12/23/21

New Single-Family Home Sales, Inventories, and Prices Rise in November

“New-home sales rose in November, but inventory also rose, and months’ supply remains relatively high. Rising prices, higher mortgage rates, and continued inventory build should lead to slower price increases.” ~ Robert Hughes

Existing-home sales

12/23/21

Tech and Aircraft Push Durable-Goods Orders Higher in November

“New orders for durable goods rose, hitting the second-highest level on record while core capital-goods orders were just below a record high. Continued strength for business investment is a positive sign for the economic outlook.” ~ Robert Hughes

Research Publications