Robert Hughes

Consumer Debt Growth is Accelerating

“Consumer credit rose in October, and the growth rate is accelerating. Consumer balance sheets are in good shape, but the combination of rising debt levels and rising interest rates could be a problem down the road.” – Robert Hughes

Services-Sector Activity Accelerated in November

“Services-sector survey suggests expansion continued in November, and respondents were generally optimistic. However, the outlook for the economy remains highly uncertain.” ~ Robert Hughes

Unit Auto Sales Fell in November

“Light-vehicle sales fell in November following a rise in inventory and drop in prices in October.” ~ Robert Hughes

Payroll Gains Beat Expectations, but the Pace Is Slowing

“Payrolls gains beat expectations in November, but the pace appears to be slowing. Mixed signs for the labor market, sustained price pressures, and an aggressive Fed tightening cycle remain risks to the outlook.” ~ Robert Hughes

Manufacturing-Sector Contracts in November

“The latest manufacturing survey suggests broadening weakness and falling price pressures for manufacturers. The outlook remains highly uncertain. Caution is warranted.” ~ Robert Hughes

Weekly Initial Claims Continue to Trend Higher

“Weekly initial claims fell, but the rising trend in the four-week average and increasing job cut announcements are a warning. Rapid price increases and aggressive Fed tightening remain major risks for the economic outlook.” ~ Robert Hughes