After plunging in August amid inflation fears and Delta wave concerns, consumer sentiment remained subdued in September, the preliminary read on the University of Michigan’s
Category: economy
Surprise! Americans Are Still Spending Money
US retail sales unexpectedly rose in August, data out Thursday showed. The 0.7% increase defied consensus (figure below), which expected a second consecutive monthly decline.
At The Risk Of Extrapolating…
Maybe the Delta variant drag on the US economy will prove fleeting. For the manufacturing sector, anyway. To the extent you can draw any tentative
China Reports Big Retail Sales Miss, Underscoring Growth Worries
Activity in the world’s second-largest economy slowed again in August, closely-watched data out Wednesday showed. Retail sales in China rose just 2.5% YoY last month
Core Inflation Slows Sharply In Win For Team ‘Transitory’
US consumer prices rose less than expected in August, bolstering the Fed’s “transitory” narrative and likely cementing the case against a taper unveil at the
Everybody Knows
“I’m not sure I’d use that picture.” Is what I would have told whoever’s in charge of selecting the stock photos for the articles that
No Unified Theory Of Everything
The “transitory” debate will heat up in the new week. Not that it’s gone cold lately. An update on US consumer prices will likely show
The ‘Collapsing’ Credit Impulse And The Story That Matters
“Is the collapse in the global credit impulse going to extend cyclical revulsion?,” SocGen’s Albert Edwards wondered, in his latest weekly missive. I’m not sure
More Heat
US producer prices rose more than expected in August, data out Friday showed. PPI for final demand rose 0.7% last month, slightly hotter than the
Jobless Claims Dive, But Limbo Looms For Millions
Initial jobless claims tumbled to a fresh pandemic low last week, perhaps suggesting the US labor market is still on the mend despite a disappointing
Help (Still) Wanted
There were nearly 11 million job openings in the US economy at the end of July, closely-watched data out Wednesday showed. The 10.9 million headline
US Consumer Faces ‘Harder Path Ahead’
“With COVID fears likely to persist through the winter virus season, it might take a while for spending to recover in still-depressed categories such as
Exports, ‘Lack Of Bad News’ Bolster China After Tech Rout
You might have expected Chinese trade to falter in August given the temporary shutdown of the world’s third-busiest container port and the prospect of waning
August Jobs Stunner May Be Reality Check
The US economy added just 235,000 jobs in August, the government said Friday, far fewer than anticipated. It was an astounding miss. Consensus expected 725,000
Inflation ‘Inevitable’: Surveys Suggest US Economy Overheated
An extremely disappointing nonfarm payrolls report showed hiring in leisure and hospitality flatlined last month, underscoring worries about the Delta variant’s capacity to constrain activity
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