Robert Hughes

Consumer Confidence Ticked Up in December

“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

Housing Construction Performed Well in November

“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

Weekly Initial Claims for Unemployment Benefits Ticked Up but Remain Very Low

“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

Retail Spending Posted a Modest Gain in November

“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

Consumer Sentiment Rebounded Slightly in Early December

“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

AIER’s Everyday Price Index Posts Its 12th Consecutive Increase

“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

AIER Leading Indicators Index Holds at the Neutral 50 Mark

“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