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Topic: GDP
«Read the rest of this article» Sections: Politics | No Comments
In-Depth Look at COVID-19’s Early Effects on Consumer Spending, GDP
BEA estimates that real GDP contracted 4.8 percent at an annual rate in the first quarter of 2020, the first decline in six years. In comparison, real GDP expanded 2.5 percent annually over the first three years of the Donald Trump Administration. This release confirms that COVID-19’s unprecedented adverse shock to the economy brought an end to the longest economic expansion in U.S. history. «Read the rest of this article» Sections: News | No Comments
Clarksville Weekly Market Snapshot from Frazier Allen for the week of December 6th, 2016
The unemployment rate fell to 4.6% (the lowest since August 2007), but that was partly due to a drop in labor force participation. Average hourly earnings fell 0.1%, following a 0.4% rise in October, up 2.5% y/y (still trending higher, but more moderately than it appeared a month ago). «Read the rest of this article» Sections: Business | No Comments
Clarksville Weekly Market Snapshot from Frazier Allen for the week of November 28th, 2016
Job growth is expected to have been moderately strong in November, but keep a close eye on average hourly earnings, which have suggested the wage pressures are building (note that the average hourly earnings figures can be quirky – they are often revised the next month – but the trend is higher). «Read the rest of this article» Sections: Business | No Comments
Clarksville Weekly Market Snapshot from Frazier Allen for the week of November 7th, 2016
The FOMC noted that “the case for an increase in the federal funds rate has continued to strengthen,” but for the time being, officials decided “to wait for some further evidence of continued progress towards our objectives.” The October Employment Report was largely in line with expectations. Nonfarm payrolls rose by 161,000 (median forecast: +175,000), but the two previous months were revised a net 44,000 higher. «Read the rest of this article» Sections: Business | No Comments
Clarksville Weekly Market Snapshot from Frazier Allen for the week of November 2nd, 2016
Inventories, which had been slowing over the five previous quarters (subtracting from GDP growth), rose at a faster pace (adding 0.6 percentage point to overall growth). Net exports (a narrower trade deficit) added 0.8 percentage point. «Read the rest of this article» Sections: Business | No Comments
Clarksville Weekly Market Snapshot from Frazier Allen for the week of October 28th, 2016
In mid-September, nine of the 12 district banks had requested an increase in the discount rate (the rate the Fed charges banks for short-term borrowing) – one more than in late July – suggesting internal pressures for higher short-term interest rates at the Fed. «Read the rest of this article» Sections: Business | No Comments
Clarksville Weekly Market Snapshot from Frazier Allen for the week of October 19th, 2016
Financial markets have increasingly priced in a mid-December rate hike. Amid a thin economic calendar, investors focused on what’s happening in the rest of the world, but also reacted to the initial earnings reports for 3Q16. «Read the rest of this article» Sections: Business | No Comments
Clarksville Weekly Market Snapshot from Frazier Allen for the week of October 9th, 2016
Nonfarm payrolls rose a bit less than expected, while the unemployment rate ticked modestly higher – the start of the school year makes the September figures suspect, but the underlying trends suggest further improvement in overall labor market conditions. «Read the rest of this article» Sections: Business | No Comments
Clarksville Weekly Market Snapshot from Frazier Allen for the week of October 2nd, 2016
Personal income rose modestly in August, as expected, but spending was softer than anticipated, suggesting a possible loss of momentum following a strong spring and early summer (economists’ estimate of GDP growth were revised down for both 3Q16 and 4Q16). «Read the rest of this article» Sections: Business | No Comments
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