Robert Hughes

Manufacturing Shipments Rise While New Orders Fall

The value of shipments from U.S. manufacturers rose 0.1 percent in May, according to newly released data from the Department of Commerce. Total shipments are up 4.9 percent compared to […]

Personal Income Gains Push Saving Rate Up in May

Pre-tax and after-tax personal income posted solid gains in May, rising 0.4 percent and 0.5 percent, respectively, according to data from the Bureau of Economic Analysis. Combined with a modest […]

First-Quarter Real GDP Revised Higher

Revised data from the Bureau of Economic Analysis show the U.S. economy grew at a 1.4 percent annualized pace in the first quarter. That estimate compares to a 1.2 percent […]

Economic Activity Slowed in May

The Chicago Fed National Activity Index (CFNAI) registered a -0.26 reading in May, down from +0.57 in April. The index is a composite of 85 different economic data series divided […]

Latest Data Suggest Tight Housing, Labor Markets

A day after the National Association of Realtors reported a 2.7 percent rise in existing-home sales for the year through May, the Office of Federal Housing Enterprise Oversight, a division […]

Retail Sales and CPI Fall In May

On the day the Federal Reserve is expected to raise the target for the federal funds rate for the second time this year, key economic reports have posted declines showing broad weakness. Retail sales and the Consumer Price Index fell 0.3 percent and 0.1 percent, respectively, suggesting that despite a strong labor market and monetary policy that is still extraordinarily supportive, neither economic growth nor consumer price increases are accelerating sharply.

ISM Reports Suggest Faster Growth but Slower Price Increases

Two reports from Institute for Supply Management both point to similar conclusions. The “Manufacturing Report on Business” and the “Non-Manufacturing Report on Business” both suggest economic activity continues to grow […]