1/15– Weekly Economic Highlights

1/15– Weekly Economic Highlights

Retail sales momentum slowed during the holiday shopping season. On a year-over-year basis, retail sales were up 2.9% in December versus 3.7% in November. On a month-over-month basis, retail sales declined 0.7% in December, following a 1.4% decline in November. The...
1/8– Weekly Economic Highlights

1/8– Weekly Economic Highlights

U.S. nonfarm payrolls declined by 140,000 in December. It was the first monthly decline in nonfarm payrolls since April of last year and came in well below expectations for a 50,000 gain. The monthly decline was led by the leisure and hospitality sector which...
12/31– Weekly Economic Highlights

12/31– Weekly Economic Highlights

After several months of tense negotiations, Congress compromised on a $900 billion fiscal relief package, and President Trump signed the bill on Sunday. This latest relief package follows about $2.7 trillion approved earlier this year. The legislation provides funding...
12/18– Weekly Economic Highlights

12/18– Weekly Economic Highlights

Recent economic data suggests that the economy has lost momentum as virus cases have risen. We anticipated that economic data would soften during the winter months, and believe the near-term outlook remains challenging as the labor market remains under pressure, many...
12/11– Weekly Economic Highlights

12/11– Weekly Economic Highlights

Initial jobless claims increased to 853,000 (much higher than expected) last week compared to 716,000 in the prior week. The level of continuing unemployment claims (where the data is lagged by one week) also increased to nearly 5.8 million from roughly 5.5 million in...
12/4– Weekly Economic Highlights

12/4– Weekly Economic Highlights

The pace of job growth slowed in November, as U.S. nonfarm payrolls increased by just 245,000 (versus expectations of 460,000), following gains of 711,000 and 610,000 in September and October, respectively. Some of the weakness in November was due to the loss of...