Robert Hughes

Everyday Prices Rise 6.1 Percent from a Year Ago

“AIER’s Everyday Price Index posted the largest yearly rise since 2011. Many prices across the economy are still reflecting distortions from government lockdowns that have caused a wide range of materials shortages, logistical, supply chain, and labor problems. As these issues are worked out, price pressures are likely to ease.” – Robert Hughes

Retail sales

AIER Leading Indicators Index Suggests Continued Economic Growth

“AIER’s Leading Indicators Index came in at 88 in April while the Roughly Coincident Indicators index remained at a perfect 100 reading for a second month. The distribution of vaccines and cessation of restrictive government lockdown policies remain the driving force behind the economic recovery. While risks associated with the spread of Covid-19 variants linger, the economic outlook is tilted to the upside. Other risks in the short term include shortages of materials, rising prices, and lingering logistical issues.” – Robert Hughes

Services Sector Expands Again in April

“The services sector expanded again in April, but logistical and labor issues as well as shortages of materials are boosting pressure on prices.” – Robert Hughes

Auto Sales Hit highest Level Since 2005

“Light-vehicle sales rose again in April, moving above the recent range to the highest pace since 2005. The gain was broad-based across most segments and signals strength for consumer spending.” – Robert Hughes

U.S. Economy Posts Widespread Gains in the First Quarter

“The U.S. economy posted strong growth in the first quarter but remains below pre-pandemic trend levels. Cessation of restrictive government policies will support a return to pre-pandemic levels of activity.” – Robert Hughes