Robert Hughes
Initial Claims Rise to a Seven-Week High
“Initial claims for unemployment benefits hit a seven-week high, sustaining doubts about the durability of the recovery.” – Robert Hughes
AIER’s Leading Indicators Index Surges in September as Recovery Broadens
“AIER’s Leading Indicators index rose sharply in September, jumping to 67, suggesting the recovery has broadened substantially and may signal the end of the recession.” – Robert Hughes
Transportation Drives Prices in September
“AIER’s Everyday Price Index rose 0.2 percent in September on a snapback in intracity transportation. Distortions to prices and economic activity continue under lockdown policies.” – Robert Hughes
Unemployment Benefit Claimants Declining Slowly
“Initial and continuing claims for unemployment benefits remain stubbornly high, suggesting a slow and uneven economic recovery.” – Robert Hughes
Household Debt Service Drops to a Record Low
“Debt service ratios fell to a record low but adjusting for massive government transfer payments paints a different picture.” – Robert Hughes
ISM Surveys Were Upbeat in September
“The September ISM surveys suggest continued expansion as the economy recovers from lockdowns, but mixed results from other data sources raise doubts.” – Robert Hughes
Light-Vehicle Sales Return to Pre-pandemic Range in September
“Auto sales continued to rebound in September from the policy-induced plunge during lockdowns, supported by low interest rates and increased demand as urbanites move to suburbs.” – Robert Hughes
Private Payrolls Added 877,000, But Remain Well Below the Prior Peak
“Private payrolls added 877,000 but the slowing of pace recovery in employment and huge numbers of unemployed suggest the recovery remains extremely uncertain.” – Robert Hughes
Personal Income and Savings Fall as Government Supports Fade
“Personal income fell in August as government payments declined. Ongoing restrictions on consumers and businesses continue to threaten the economic recovery.” – Robert Hughes
Initial Claims and Continuing Claims for Unemployment Benefits Remain High
“Initial claims for unemployment benefits remain stubbornly high, suggesting a slow and uneven economic recovery.” – Robert Hughes
