Robert Hughes

A Solid, Not Spectacular Jobs Report

A solid though not spectacular September Employment Report suggests the economy is maintaining positive momentum heading into the fourth quarter. Accelerating wage gains on top of a good pace of […]

Good News and Somewhat Good News

The monthly economic data cycle kicked off with two early reads on activity for September. First is the Institute for Supply Management’s Purchasing Managers’ Index, or PMI, a survey of […]

Business Investment Shows Some Life

Durable goods orders were flat in August, but core capital goods posted their third straight gain, according to data released by the Commerce Department on Wednesday. Orders for durable goods […]

New Home Sales Pull Back in August

  Sales of new single-family homes fell in August after posting strong gains for much of the past year. Sales came in at a seasonally-adjusted annual rate of 609,000, down […]

Higher Household Net Worth Should Support Economy

With the consumer being the engine of the slow but steady economic expansion, some new data from the Federal Reserve Board suggests that engine can continue motoring along. Household balance […]

Americans Are Increasing Their Credit Usage

Amid some conflicting economic signals, Americans are still showing an increasing willingness to expand their credit use. This may be a sign that despite flagging business investment and moderate growth in the jobs market, consumers remain confident in their personal financial situations.

Manufacturing Sector Took a Turn for the Worse in August

Yesterday we noted the weaker reading from the Chicago Purchasing Managers’ Index data on manufacturing activity in the Chicago area. This tends to foreshadow the state of the national manufacturing sector. The Chicago report turned out to be a good predictor of the national manufacturing index released today by the Institute for Supply Management.

Mixed Signs Ahead of Key Data Reports

The ADP national payroll report for August suggests private payrolls in the U.S. added 177,000 new jobs. The 177,000 gain for August is less than what we saw in July, which was revised upward to an estimated 194,000. We pay attention to this report because it tends to suggest what we might see from the monthly jobs report from the Bureau of Labor Statistics.

A Positive Sign for Manufacturers

The Commerce Department report on manufacturers’ new orders for durable goods showed a strong gain in July, the best month since January (Chart 1). Orders for durable goods jumped 4.4 percent following a 4.2 percent decline in June.