The PCE price index on an annual basis increased 6.2%, slower than 6.4% in July but still elevated and significantly ahead of Fed's target rate of 2%.

Weekly initial jobless claims rose less than expected in the week ending September 24. The smaller-than-expected rise in claims signaled the strength in the labor market and another reason for the Fed to continue hiking rates.

New home sales unexpectedly soared in August despite the rise in mortgage rates and elevated home prices. Median home price declined 6.3%

Housing starts unexpectedly rose in August from July but the less volatile building permits and completions fell.

Weekly Jobless Claims Lowest Since May

Sep 15, 2022
Brian Turner
Initial weekly jobless claims declined to the lowest level last since in May and the claims are running 40% from a year ago.



Retail Sales In August Rise 0.3%

Sep 15, 2022
Brian Turner
Retail sales advanced after the fall in gasoline price allowed consumers to increase purchases of food and beverages and other items. Motor vehicle sales rose.

Industrial Production Falls

Sep 15, 2022
Brian Turner
Industrial production fell unexpectedly in August. The index for durable goods manufacturing was unchanged and for nondurable manufacturing increased 0.2%, and for other manufacturing eased 0.1%.

Producer Prices Eases In August to 8.7%

Sep 14, 2022
Brian Turner
Producer prices eased for the second month in a row in August after gasoline prices rose at a slower pace.

Consumer Price Index Up 8.3% In August

Sep 13, 2022
Brian Turner
The August inflation data confirmed the widening and deepening of high inflation across a broad spectrum of economic activities.

Jobless Claims Drop to 2-month Low

Sep 8, 2022
Barry Adams
Jobless claims declined 6,000 to 222,000 at the end of week ending on September 3.



U.S. trade deficit eased 13% in August to $70.6 billion but rose 29% or $136.6 billion from a year ago. In a familiar trade pattern, the U.S. recorded large deficits with China, European Union, Mexico, Vietnam and Canada.

Non-farm payrolls rose at a slower pace in August and the job additions were led by professional services and healthcare sectors. Jobless rate increased after labor force participation rate rose to 62.4%.

Total July Job Openings Stable

Aug 30, 2022
Brian Turner
New job openings, hires and separations were nearly unchanged in July as the labor market remained strong according to the latest report from the Bureau of Labor Statistics.

The PCE Price Index Eases in July

Aug 26, 2022
Brian Turner
The personal consumption price index fell in July but the core index which excludes food and energy rose. The measure of inflation understates price pressures in the economy and benchmarks lower living standards inflicted on consumers .

In a forceful reminder delivered in a sobering tone, Fed Chairman stressed that lowering inflation may take longer and will inflict short-term pain to the economy.



July Home Sales Fall 13%

Aug 23, 2022
Brian Turner
New home sales declined in July on rising prices and mortgage rates and longer construction time.