Slow economic growth and weak income gains limited consumer spending in late 2015. While consumer spending increased, the gains were modest and constrained by stagnant income growth and high savings rates. The job market improved but monthly job gains were below expectations in January 2016. Overall the consumer economic outlook remains cautious as consumers have been reluctant to increase spending in light of ongoing financial uncertainties.
The document summarizes consumer economic trends in July 2016. Key points include:
- Disposable income and consumer spending increased slightly in May and June while retail sales grew.
- Strong job gains in June of 287,000 rebounded from a weak May, but broader employment ratios declined.
- Consumer sentiment dipped in July due to Brexit and stock market concerns, while small business optimism increased modestly.
Consumer Economic Trends: February 2017Charles McKay
Consumer and small business optimism reached 12-year highs in January as the U.S. economy grew 1.9% in the fourth quarter of 2016. Consumer spending and retail sales increased in December while job gains were strong and unemployment fell. Both consumer sentiment and small business optimism surged due to more optimistic views about the jobs market and economy.
The document summarizes consumer economic trends in November 2016. It notes that US GDP grew 3.2% in Q2 2016, the strongest growth in two years. Consumer spending increased in October while average weekly earnings declined in November. Post-election consumer sentiment jumped by 6.5 points as consumers anticipated improved personal finances and economic conditions. Small business optimism edged up in October but concerns over the election drove uncertainty to a 42-year high.
The document summarizes consumer economic trends in September 2016. It finds that the US economy failed to gain momentum in the second quarter as falling business investment was not offset by strong consumer spending. Consumer spending grew 0.3% in July while retail sales were unchanged, with gasoline prices still dragging on growth. Job gains slowed to 151,000 in August from over 270,000 in previous months. Consumer sentiment dipped slightly but revolving debt continued to rise, though debt levels remain stable relative to income.
The document summarizes an economic briefing presented by D&B's Chief Economist. It discusses the mixed signals in the US economy in May 2014 based on D&B's proprietary metrics and various statistical agencies. While some indicators like total nonfarm payroll and industrial production showed growth, others like GDP growth and retail sales slowed. D&B's Small Business Health Index remained stable but conflicted, and its outlook for small business and the US economy in 2014 was downgraded. However, positives remained like improvements in financial health, lending, employment, and spending to support a potential acceleration in the second half of the year.
Economic Indicators for the week of October 11 - 15 NAR Research
The document provides a weekly economic forecast and updates from October 4-15, 2010. It forecasts GDP growth in Q3 and Q4 2010 and Q1 2011 to remain steady. The unemployment rate and mortgage rates are forecast to increase slightly by year-end 2010. Economic indicators like small business optimism and mortgage applications declined, while jobless claims and the trade deficit increased. Consumer prices rose due to food and energy costs, but core inflation remained flat. Retail sales increased in September but consumer sentiment declined in October.
Indian Economy Next Quarter
Rains still not favouring India’s granary in the northwest, August rains key now
Pressure on pulses prices set to ease with imports and higher crop by winter
RBI holds rates, but inflationary pressures will force its hand by last quarter
Commodity prices set to rise as global growth signs turn more positive
High government borrowings pushing bond yields upwards
Subdued dollar as emerging economies show more promise this year
India : Kal, aaj aur kal
As we have been emphasising in the past few newsletters, despite the negative WPI inflation numbers, all is not calm on the inflation front. Right now attention has focused on inflation in food articles and manufactured food products, standing provisionally at 9.7% and 8.5% for the week ending July 25th. Consumer price indices for June are also registering higher inflation than previous months, CPI AL for instance stands at 11.52% inflation; this is on top of the 8.77% rate in June 2008. Clearly, the government’s ‘touchy feely’ talk on being the saviour of the poor has been negated by inflation. Could the government have done anything different? We believe it could have and should have. By preferring to reduce emphasis on the consequences of a high fiscal deficit on inflation, the government has done a great disservice to the country.
Slow economic growth and weak income gains limited consumer spending in late 2015. While consumer spending increased, the gains were modest and constrained by stagnant income growth and high savings rates. The job market improved but monthly job gains were below expectations in January 2016. Overall the consumer economic outlook remains cautious as consumers have been reluctant to increase spending in light of ongoing financial uncertainties.
The document summarizes consumer economic trends in July 2016. Key points include:
- Disposable income and consumer spending increased slightly in May and June while retail sales grew.
- Strong job gains in June of 287,000 rebounded from a weak May, but broader employment ratios declined.
- Consumer sentiment dipped in July due to Brexit and stock market concerns, while small business optimism increased modestly.
Consumer Economic Trends: February 2017Charles McKay
Consumer and small business optimism reached 12-year highs in January as the U.S. economy grew 1.9% in the fourth quarter of 2016. Consumer spending and retail sales increased in December while job gains were strong and unemployment fell. Both consumer sentiment and small business optimism surged due to more optimistic views about the jobs market and economy.
The document summarizes consumer economic trends in November 2016. It notes that US GDP grew 3.2% in Q2 2016, the strongest growth in two years. Consumer spending increased in October while average weekly earnings declined in November. Post-election consumer sentiment jumped by 6.5 points as consumers anticipated improved personal finances and economic conditions. Small business optimism edged up in October but concerns over the election drove uncertainty to a 42-year high.
The document summarizes consumer economic trends in September 2016. It finds that the US economy failed to gain momentum in the second quarter as falling business investment was not offset by strong consumer spending. Consumer spending grew 0.3% in July while retail sales were unchanged, with gasoline prices still dragging on growth. Job gains slowed to 151,000 in August from over 270,000 in previous months. Consumer sentiment dipped slightly but revolving debt continued to rise, though debt levels remain stable relative to income.
The document summarizes an economic briefing presented by D&B's Chief Economist. It discusses the mixed signals in the US economy in May 2014 based on D&B's proprietary metrics and various statistical agencies. While some indicators like total nonfarm payroll and industrial production showed growth, others like GDP growth and retail sales slowed. D&B's Small Business Health Index remained stable but conflicted, and its outlook for small business and the US economy in 2014 was downgraded. However, positives remained like improvements in financial health, lending, employment, and spending to support a potential acceleration in the second half of the year.
Economic Indicators for the week of October 11 - 15 NAR Research
The document provides a weekly economic forecast and updates from October 4-15, 2010. It forecasts GDP growth in Q3 and Q4 2010 and Q1 2011 to remain steady. The unemployment rate and mortgage rates are forecast to increase slightly by year-end 2010. Economic indicators like small business optimism and mortgage applications declined, while jobless claims and the trade deficit increased. Consumer prices rose due to food and energy costs, but core inflation remained flat. Retail sales increased in September but consumer sentiment declined in October.
Indian Economy Next Quarter
Rains still not favouring India’s granary in the northwest, August rains key now
Pressure on pulses prices set to ease with imports and higher crop by winter
RBI holds rates, but inflationary pressures will force its hand by last quarter
Commodity prices set to rise as global growth signs turn more positive
High government borrowings pushing bond yields upwards
Subdued dollar as emerging economies show more promise this year
India : Kal, aaj aur kal
As we have been emphasising in the past few newsletters, despite the negative WPI inflation numbers, all is not calm on the inflation front. Right now attention has focused on inflation in food articles and manufactured food products, standing provisionally at 9.7% and 8.5% for the week ending July 25th. Consumer price indices for June are also registering higher inflation than previous months, CPI AL for instance stands at 11.52% inflation; this is on top of the 8.77% rate in June 2008. Clearly, the government’s ‘touchy feely’ talk on being the saviour of the poor has been negated by inflation. Could the government have done anything different? We believe it could have and should have. By preferring to reduce emphasis on the consequences of a high fiscal deficit on inflation, the government has done a great disservice to the country.
An overview of economic growth in US during q 3 of 2018. Overview includes data on: Economic Projections of the Federal Reserve Board, Employment Growth, Employment Growth by Industry, Employment Growth by Metropolitan Area, Consumer Price Index, Corporate Profits an Compensation of Employees, etc.
The document provides an economic overview and projections for Q1 2018. It summarizes the Federal Reserve's projections for GDP growth, unemployment, inflation, and interest rates through 2020. It also reviews recent employment, wage growth, GDP, corporate profits, home prices, and other economic indicators. Overall, the outlook presented is for continued moderate economic expansion in the US.
The Federal Reserve projects real GDP growth of 2.7-3.0% in 2018, with unemployment falling to 3.6-3.7% and inflation rising but remaining near 2%. In Q2 2018, real GDP increased at an annual rate of 4.1% while unemployment declined slightly. Job growth was strong in professional services and manufacturing. Home prices continue rising nationally at over 6% annually according to the S&P CoreLogic Case-Shiller index.
Arbor Realty's U.S. Economic Overview for 2018 q4 with insights on U.S. employment growth, the consumer price index, average earnings and the homeownership rate.
Hiring Trends - Webinar with the Department of Labor and Business Forwardbusinessforward
Dr. Heidi Shierholz, chief economist at the U.S. Department of Labor discusses the latest and trends in hiring and job opening. She talks about the Job Openings and Labor Turnover Survey (JOLTS), which was released earlier that day.
- Consumer confidence remained relatively steady in May compared to April, lowering less than half a point. Confidence levels are up 18% from May 2014 and higher than pre-recession levels in May 2007.
- While confidence has dipped from highs earlier in the year, consumers continue to have a positive outlook on the economy. Practical purchasing attitudes have declined slightly in recent months.
- The consumer spending forecast suggests lackluster spending from April may continue into May, though discretionary categories may see stronger growth. Spending outlook is higher for lower-income households likely benefiting most from lower gas prices.
Economic Analysis and Emerging Opportunities Assingment twoMarc Hawxhurst
This document analyzes key economic indicators such as GDP, inflation, employment, consumer spending, interest rates, housing, energy costs, and bond yields. It provides data on current levels and recent trends for these indicators. It also compares the sector allocations for the Archway Fund to those recommended by Strategas, noting underweight and overweight positions.
Join Deborah Weinswig, Managing Director at Fung Global Retail & Technology, and Planalytics for a review of retail Q3 2016, an overview of the current business environment, and how we expect weather to influence consumers in North America during the upcoming holiday shopping season.
Topics covered on this webinar include:
-A review of the weather conditions and business impacts during retail Q3
-How weather will impact consumers during the 2016 holiday shopping season with a comparison to 2015
-Product categories that are likely to be boosted/hurt by the weather
-Temperature/Precipitation projections for various U.S./Canada regions and the businesses that will benefit from those conditions
Russian consumer sentiment increased slightly in July according to a consumer sentiment index. The index rose 2 points to 91.1 in July from 89.1 in June, though sentiment remains below levels from earlier in the year prior to Russia's annexation of Crimea. Consumers felt better about their current economic circumstances but were still downbeat about the future outlook. Pessimism is expected to continue as sanctions over Ukraine's crisis further impact Russia's already weakening economy.
February 2018 U.S. employment update and outlookJLL
January 2018 saw 200,000 net new jobs created, with unemployment once again stable at 4.1 percent. Job growth continues in line with expansion of the broader labor force, even as slack diminishes.
National Employment Situation: January 2018DavidDominy1
The document summarizes key labor market statistics from January 2018:
- The U.S. labor market added 200,000 net new jobs in January with the unemployment rate stable at 4.1%.
- Shortages of skilled talent are constraining company expansion nationally as bachelor's degree unemployment is very low at 2.1%.
- Continued strong economic growth, inflation above 2%, and a tight labor market make further Federal Reserve interest rate hikes in 2018 likely.
The document provides an overview of the current US retail environment. It discusses positive macroeconomic factors like GDP growth, low gas prices, and a strong job market. However, it also notes global uncertainties could impact business investment. Store traffic continues to decline significantly year-over-year, though conversion rates are up. Experiences are outperforming purchases of goods as consumers shift spending to services. Direct-to-consumer and omnichannel retailing are transforming the customer experience.
May’s 223,000 net new jobs represented the 91st consecutive month of growth, further extending an already unprecedented expansionary cycle. Since early 2017, the change in employment compared to the previous cycle has been higher than growth in the civilian labor force, leading to rapid declines in unemployment, which now stands at just 3.8%. With the economy showing no meaningful signs of slowdown and inflation rising under the pressure of sustained output growth, the Federal Reserve is on track to continue its program of tightening over the coming quarters.
The document provides an analysis of the South African residential property market in February 2017. Key points include:
1) The FNB House Price Index showed year-on-year growth of 0.8%, slightly slower than January's revised rate of 0.9%, reflecting weak economic conditions.
2) Month-on-month house price inflation turned slightly positive in January/February after deflation in late 2016, which could signal near-term economic improvement.
3) Leading indicators like manufacturing and business cycles point to mildly better economic growth in 2017, which may lead to moderately higher house price growth later in the year.
Variations or irregular rise of consumer price index worldwide of which Ghana is no exception has affected many businesses in the country. However, the obvious indicator of an inflationary situation is rising prices of consumer goods. On the basis of the above, the researchers decided to do a trend analysis on consumer price indices obtained from the Ghana Statistical Service to serve as a guide to the business community in Ghana. The main objective of the analysis is to determine the overall pattern in the data and to subsequently fit an appropriate trend for forecasting future values. The main statistical technique used in this work is time series analysis. Based on the trend analysis carried out, the study revealed that, there was general upward trend in the CPIs in Ghana, collaborating an earlier research conducted by Ampofo. However, the shapes of graphs of the CPIs, showed a slight difference. Finally, forecast values or predictions for the CPIs were made for the year 2008.
It’s been a challenging week for the pound; on Monday Bank of England chief economist Andy Haldane spoke yesterday about "Big Data" and its use now and in the future to help shape the Bank's policy decisions.
The labor market continues to tighten as the economy grows. The Labor Department stated initial jobless claims increased by 11,000 to 276,000 in the week ending March 26, 2016. The four-week moving average was 263,250. The private sector added 200,000 jobs in March. 214,000 jobs were added to the
labor market in March, but revisions to the prior two months were blended, leading to a revision of - 1,000 net jobs. The unemployment rate edged up from 4.9% to 5.0% as the number of people in the labor force rose more than the number of people employed, showing that people have started to re-enter the
labor force as they gain more confidence in their ability to find employment.
DCR TrendLine July 2014 - Non Employee Workforce Insightss
DCR TrendLine shares analyses of trends and happenings in the staffing industry. The July edition covers a range of topics, including the latest employment figures from the Bureau of Labor Statistics and the growing utilization of temporary workers across multiple industries. This month’s edition focuses on the Information Technology (IT) industry, highlight trends in the sector and sharing insight into employment and wages. We examine the skill gap in the industry and discuss how companies are attempting to bridge it. We also highlight how predictive analytics are being applied in human resource management and which talent acquisition metrics companies should be tracking. Our feature article this month is particularly applicable to companies with contingent workforce programs. We look at the challenges companies often face, and offer tips on keeping CW programs running smoothly.
November 2016 U.S. employment update and outlookJLL
October's 161,000 net new jobs missed expectations, but unemployment still dropped to 4.9 percent, as signs point to a potential interest rate hike in December.
US employment rate data and trends – January 2017JLL
January saw a resurgence in employment growth, adding 227,000 net new jobs with gains witnessed across numerous sectors. A 20-basis-point increase in the labor force participation rate boosted pushed unemployment up slightly to 4.8 percent, although it remains near cyclical lows.
In this edition, we present our revised economic scenarios and projections for UK economic growth in 2020 and 2021. We also present our revised fiscal scenarios and projections, an update on the latest economic data, as well as results from a more recent survey we conducted on home-working and the impacts on productivity.
An overview of economic growth in US during q 3 of 2018. Overview includes data on: Economic Projections of the Federal Reserve Board, Employment Growth, Employment Growth by Industry, Employment Growth by Metropolitan Area, Consumer Price Index, Corporate Profits an Compensation of Employees, etc.
The document provides an economic overview and projections for Q1 2018. It summarizes the Federal Reserve's projections for GDP growth, unemployment, inflation, and interest rates through 2020. It also reviews recent employment, wage growth, GDP, corporate profits, home prices, and other economic indicators. Overall, the outlook presented is for continued moderate economic expansion in the US.
The Federal Reserve projects real GDP growth of 2.7-3.0% in 2018, with unemployment falling to 3.6-3.7% and inflation rising but remaining near 2%. In Q2 2018, real GDP increased at an annual rate of 4.1% while unemployment declined slightly. Job growth was strong in professional services and manufacturing. Home prices continue rising nationally at over 6% annually according to the S&P CoreLogic Case-Shiller index.
Arbor Realty's U.S. Economic Overview for 2018 q4 with insights on U.S. employment growth, the consumer price index, average earnings and the homeownership rate.
Hiring Trends - Webinar with the Department of Labor and Business Forwardbusinessforward
Dr. Heidi Shierholz, chief economist at the U.S. Department of Labor discusses the latest and trends in hiring and job opening. She talks about the Job Openings and Labor Turnover Survey (JOLTS), which was released earlier that day.
- Consumer confidence remained relatively steady in May compared to April, lowering less than half a point. Confidence levels are up 18% from May 2014 and higher than pre-recession levels in May 2007.
- While confidence has dipped from highs earlier in the year, consumers continue to have a positive outlook on the economy. Practical purchasing attitudes have declined slightly in recent months.
- The consumer spending forecast suggests lackluster spending from April may continue into May, though discretionary categories may see stronger growth. Spending outlook is higher for lower-income households likely benefiting most from lower gas prices.
Economic Analysis and Emerging Opportunities Assingment twoMarc Hawxhurst
This document analyzes key economic indicators such as GDP, inflation, employment, consumer spending, interest rates, housing, energy costs, and bond yields. It provides data on current levels and recent trends for these indicators. It also compares the sector allocations for the Archway Fund to those recommended by Strategas, noting underweight and overweight positions.
Join Deborah Weinswig, Managing Director at Fung Global Retail & Technology, and Planalytics for a review of retail Q3 2016, an overview of the current business environment, and how we expect weather to influence consumers in North America during the upcoming holiday shopping season.
Topics covered on this webinar include:
-A review of the weather conditions and business impacts during retail Q3
-How weather will impact consumers during the 2016 holiday shopping season with a comparison to 2015
-Product categories that are likely to be boosted/hurt by the weather
-Temperature/Precipitation projections for various U.S./Canada regions and the businesses that will benefit from those conditions
Russian consumer sentiment increased slightly in July according to a consumer sentiment index. The index rose 2 points to 91.1 in July from 89.1 in June, though sentiment remains below levels from earlier in the year prior to Russia's annexation of Crimea. Consumers felt better about their current economic circumstances but were still downbeat about the future outlook. Pessimism is expected to continue as sanctions over Ukraine's crisis further impact Russia's already weakening economy.
February 2018 U.S. employment update and outlookJLL
January 2018 saw 200,000 net new jobs created, with unemployment once again stable at 4.1 percent. Job growth continues in line with expansion of the broader labor force, even as slack diminishes.
National Employment Situation: January 2018DavidDominy1
The document summarizes key labor market statistics from January 2018:
- The U.S. labor market added 200,000 net new jobs in January with the unemployment rate stable at 4.1%.
- Shortages of skilled talent are constraining company expansion nationally as bachelor's degree unemployment is very low at 2.1%.
- Continued strong economic growth, inflation above 2%, and a tight labor market make further Federal Reserve interest rate hikes in 2018 likely.
The document provides an overview of the current US retail environment. It discusses positive macroeconomic factors like GDP growth, low gas prices, and a strong job market. However, it also notes global uncertainties could impact business investment. Store traffic continues to decline significantly year-over-year, though conversion rates are up. Experiences are outperforming purchases of goods as consumers shift spending to services. Direct-to-consumer and omnichannel retailing are transforming the customer experience.
May’s 223,000 net new jobs represented the 91st consecutive month of growth, further extending an already unprecedented expansionary cycle. Since early 2017, the change in employment compared to the previous cycle has been higher than growth in the civilian labor force, leading to rapid declines in unemployment, which now stands at just 3.8%. With the economy showing no meaningful signs of slowdown and inflation rising under the pressure of sustained output growth, the Federal Reserve is on track to continue its program of tightening over the coming quarters.
The document provides an analysis of the South African residential property market in February 2017. Key points include:
1) The FNB House Price Index showed year-on-year growth of 0.8%, slightly slower than January's revised rate of 0.9%, reflecting weak economic conditions.
2) Month-on-month house price inflation turned slightly positive in January/February after deflation in late 2016, which could signal near-term economic improvement.
3) Leading indicators like manufacturing and business cycles point to mildly better economic growth in 2017, which may lead to moderately higher house price growth later in the year.
Variations or irregular rise of consumer price index worldwide of which Ghana is no exception has affected many businesses in the country. However, the obvious indicator of an inflationary situation is rising prices of consumer goods. On the basis of the above, the researchers decided to do a trend analysis on consumer price indices obtained from the Ghana Statistical Service to serve as a guide to the business community in Ghana. The main objective of the analysis is to determine the overall pattern in the data and to subsequently fit an appropriate trend for forecasting future values. The main statistical technique used in this work is time series analysis. Based on the trend analysis carried out, the study revealed that, there was general upward trend in the CPIs in Ghana, collaborating an earlier research conducted by Ampofo. However, the shapes of graphs of the CPIs, showed a slight difference. Finally, forecast values or predictions for the CPIs were made for the year 2008.
It’s been a challenging week for the pound; on Monday Bank of England chief economist Andy Haldane spoke yesterday about "Big Data" and its use now and in the future to help shape the Bank's policy decisions.
The labor market continues to tighten as the economy grows. The Labor Department stated initial jobless claims increased by 11,000 to 276,000 in the week ending March 26, 2016. The four-week moving average was 263,250. The private sector added 200,000 jobs in March. 214,000 jobs were added to the
labor market in March, but revisions to the prior two months were blended, leading to a revision of - 1,000 net jobs. The unemployment rate edged up from 4.9% to 5.0% as the number of people in the labor force rose more than the number of people employed, showing that people have started to re-enter the
labor force as they gain more confidence in their ability to find employment.
DCR TrendLine July 2014 - Non Employee Workforce Insightss
DCR TrendLine shares analyses of trends and happenings in the staffing industry. The July edition covers a range of topics, including the latest employment figures from the Bureau of Labor Statistics and the growing utilization of temporary workers across multiple industries. This month’s edition focuses on the Information Technology (IT) industry, highlight trends in the sector and sharing insight into employment and wages. We examine the skill gap in the industry and discuss how companies are attempting to bridge it. We also highlight how predictive analytics are being applied in human resource management and which talent acquisition metrics companies should be tracking. Our feature article this month is particularly applicable to companies with contingent workforce programs. We look at the challenges companies often face, and offer tips on keeping CW programs running smoothly.
November 2016 U.S. employment update and outlookJLL
October's 161,000 net new jobs missed expectations, but unemployment still dropped to 4.9 percent, as signs point to a potential interest rate hike in December.
US employment rate data and trends – January 2017JLL
January saw a resurgence in employment growth, adding 227,000 net new jobs with gains witnessed across numerous sectors. A 20-basis-point increase in the labor force participation rate boosted pushed unemployment up slightly to 4.8 percent, although it remains near cyclical lows.
In this edition, we present our revised economic scenarios and projections for UK economic growth in 2020 and 2021. We also present our revised fiscal scenarios and projections, an update on the latest economic data, as well as results from a more recent survey we conducted on home-working and the impacts on productivity.
U.S. employment showed a healthy return to growth in February with 242,000 net new jobs. Unemployment remained at 4.9 percent, but total unemployment dropped to just 9.7 percent—the lowest rate since before the recession.
RemX Workforce Perspectives Newsletter July 2017RemX Staffing
The June jobs report showed strong employment growth in the US economy. The economy added 222,000 jobs in June, more than expected, and job growth was revised upwards for April and May. Several sectors like healthcare, professional services, and manufacturing saw particularly strong growth. The unemployment rate ticked up slightly but this was due to more people entering the workforce, indicating growing optimism in the jobs market. Overall, the strong second quarter jobs reports signal a robust economy, but ongoing challenges like skills shortages could hinder future growth if not addressed.
RemX Workforce Perspectives Newsletter July 2017Saskia Styles
The June jobs report showed strong employment growth in the US economy. The economy added 222,000 jobs in June, more than expected, and job growth was revised upwards for April and May. Several sectors like healthcare, professional services, and manufacturing saw particularly strong growth. The unemployment rate ticked up slightly but this was due to more people entering the workforce, indicating growing optimism in the jobs market. Overall, the strong second quarter jobs reports signal a robust economy, but ongoing challenges like skills shortages could impact future growth.
D&B’s Chief Economist Paul Ballew highlights the key findings on U.S. businesses for April 2014, in the May edition of U.S. Economic Health Tracker. The Tracker examines three macro indicator dimensions: the Small Business Health Index (SBHI), U.S. Jobs Health and U.S. Business Health Index .
Mark Vitner, managing director and senior economist at Wells Fargo, keynoted the 2014 Economic Outlook Briefing, describing trends and the latest economic issues facing the nation and the region.
Based in Charlotte, Vitner writes for the company’s Monthly Economic Outlook report, the Weekly Economic & Financial Commentary, and also provides regular updates on the housing markets, commercial real estate, regional economies, and inflation. Vitner’s commentary has been featured in the New York Times, Wall Street Journal, and Bloomberg, among other publications.
In addition to Vitner’s economic forecast, briefing attendees heard the results of the Chamber’s annual Economic Conditions Survey, an online survey that gauges our community’s thoughts on the current economy based on Chamber member response.
The document provides an economic update and discusses developments in several regions including Australia, the US, Europe, the UK, China, and Japan. Key points include:
- Australian property investors were the focus of additional lending restrictions from banks and regulators. Population growth is supporting the Australian economy, particularly in Sydney and Melbourne.
- The US labor market remains tight and wage growth is increasing, putting pressure on inflation. Uncertainty remains around future policy from the Trump administration.
- Eurozone economic data shows continued strengthening, but inflation remains below target. Monetary policy normalization will be a gradual process.
- UK retail sales rebounded in February but consumer spending power faces pressure from inflation. Business surveys remain strong despite
September 2016 U.S. employment update and outlookJLL
Despite employment growth in August falling below expectations, the overall U.S. unemployment rate held steady at 4.9 percent as growth in the workforce aligned with employment gains.
US employment rate data and trends – December 2016 JLL
A muted December capped off a slower, more inconsistent 2016. Job creation over the course of 2016 totaled nearly 2.2 million jobs, a 21.4-percent lower figure than the more than 2.7 million jobs created in 2015. Monthly gains averaged 180,000 vs. the 229,000 in 2015, largely as a result of talent shortages in major markets.
The document summarizes key findings from Posterscope's OOH Consumer Survey (OCS) 7 regarding consumers' attitudes towards dynamic digital out-of-home (DOOH) advertising. The survey found that consumers are most engaged by advertising messages that are relevant to their location. Certain consumer groups, such as frequent fast food purchasers, are particularly interested in dynamic messages related to time of day. OCS 7 also provides insights into consumers' involvement with various annual events that present opportunities to link with dynamic DOOH advertising. Additionally, the survey examines consumers' purchasing behaviors across different product categories and locations to understand the convergent consumer journey.
The US GDP grew at an annual rate of 2.5% in the first quarter of 2013, driven by strong growth in consumer spending and business investment in inventories. The US jobs report for April 2013 showed an addition of 165,000 jobs, revised upward from previous months. While this signals continued slow improvement in the jobs market, some signs of caution remained such as a decline in average work hours. The unemployment rate held steady at 7.5%.
October 2016 U.S. employment update and outlookJLL
September saw modest job growth of 156,000 new jobs added. While below recent averages, fundamentals remain steady as unemployment rose slightly to 5.0% due to increased labor participation. Job openings are rising faster than employment, signaling strong employer demand but constraints filling positions. Wage growth and consumer confidence both increased on the back of sustained job gains and low inflation.
May saw the addition of only 138,000 net new jobs, while gains in previous months saw downward revisions. Minimal improvement in retail trade combined with contractions in government and information kept increases down, although professional services, education, health and leisure remained stable.
This report highlights US economic performance via three key indices. The Small Business Health Index measures year-over-year small business performance through equally weighted payment patterns and credit use. U.S. Jobs Health combines Small Business Health Index industry data with BLS figures to forecast monthly nonfarm payroll employment. The U.S. Business Health Index provides a year-over-year equally weighted average of D&B’s Viability Score, Delinquency Predictor and Total Loss Predictor.
OJP data from firms like Vicinity Jobs have emerged as a complement to traditional sources of labour demand data, such as the Job Vacancy and Wages Survey (JVWS). Ibrahim Abuallail, PhD Candidate, University of Ottawa, presented research relating to bias in OJPs and a proposed approach to effectively adjust OJP data to complement existing official data (such as from the JVWS) and improve the measurement of labour demand.
Vicinity Jobs’ data includes more than three million 2023 OJPs and thousands of skills. Most skills appear in less than 0.02% of job postings, so most postings rely on a small subset of commonly used terms, like teamwork.
Laura Adkins-Hackett, Economist, LMIC, and Sukriti Trehan, Data Scientist, LMIC, presented their research exploring trends in the skills listed in OJPs to develop a deeper understanding of in-demand skills. This research project uses pointwise mutual information and other methods to extract more information about common skills from the relationships between skills, occupations and regions.
Lecture slide titled Fraud Risk Mitigation, Webinar Lecture Delivered at the Society for West African Internal Audit Practitioners (SWAIAP) on Wednesday, November 8, 2023.
How Does CRISIL Evaluate Lenders in India for Credit RatingsShaheen Kumar
CRISIL evaluates lenders in India by analyzing financial performance, loan portfolio quality, risk management practices, capital adequacy, market position, and adherence to regulatory requirements. This comprehensive assessment ensures a thorough evaluation of creditworthiness and financial strength. Each criterion is meticulously examined to provide credible and reliable ratings.
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...AntoniaOwensDetwiler
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
1. Elemental Economics - Introduction to mining.pdfNeal Brewster
After this first you should: Understand the nature of mining; have an awareness of the industry’s boundaries, corporate structure and size; appreciation the complex motivations and objectives of the industries’ various participants; know how mineral reserves are defined and estimated, and how they evolve over time.
STREETONOMICS: Exploring the Uncharted Territories of Informal Markets throug...sameer shah
Delve into the world of STREETONOMICS, where a team of 7 enthusiasts embarks on a journey to understand unorganized markets. By engaging with a coffee street vendor and crafting questionnaires, this project uncovers valuable insights into consumer behavior and market dynamics in informal settings."
In a tight labour market, job-seekers gain bargaining power and leverage it into greater job quality—at least, that’s the conventional wisdom.
Michael, LMIC Economist, presented findings that reveal a weakened relationship between labour market tightness and job quality indicators following the pandemic. Labour market tightness coincided with growth in real wages for only a portion of workers: those in low-wage jobs requiring little education. Several factors—including labour market composition, worker and employer behaviour, and labour market practices—have contributed to the absence of worker benefits. These will be investigated further in future work.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
2. Elemental Economics - Mineral demand.pdfNeal Brewster
After this second you should be able to: Explain the main determinants of demand for any mineral product, and their relative importance; recognise and explain how demand for any product is likely to change with economic activity; recognise and explain the roles of technology and relative prices in influencing demand; be able to explain the differences between the rates of growth of demand for different products.
2. Consumer Economic Trends – March 2016
3/15/16 Consumer Economics Chartbook - CKMcKay 2
Summary
• Recent consumer economic indicators have been decidedly mixed
keeping the Fed on hold
• January disposable income was up 0.5%, but February average weekly
earnings declined 0.1%
• Consumer spending was up 0..5% in January, retail sales declined 0.1%
in February and January’s previously reported gain was revised down
to a decline of 0.4%
• February job gains were strong at 242,000 plus there were upward
revisions to prior months. And the broader employment ratios
continued their positive trends
• Consumers paused their recent run of revolving debt increases which
could explain the dip in retail sales
• February consumer sentiment was essentially unchanged at 91.7 still
well down from the 12 month high of 96.1 in June
• Of some concern is the continued decline in small business optimism
which is now at its lowest level since February ‘14
List of Charts
1. Disposable income
2. Consumer spending
3. Retail sales
4. Ecommerce sales
5. Jobs growth vs. UI claims
6. Employment ratios
7. Wage growth vs. inflation
8. Revolving credit
9. Purchase volume
10. Consumer sentiment
11. Small business optimism
3. Disposable personal income growth gained significantly in January, but still remained tepid
at 4.0% year-over-year
3/15/16 Consumer Economics Chartbook - CKMcKay 3
17.0%
17.5%
18.0%
18.5%
19.0%
19.5%
20.0%
20.5%
21.0%
-4%
-2%
0%
2%
4%
6%
8%
10%
12%
'07 '08 '09 '10 '11 '12 '13 '14 '15 '16
Personal Income and Savings
Disposable Personal Income Y/Y Growth% Personal Savings Rate % Tax Burden % Personal Income (right scale)
Source: Bureau of Economic Analysis
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4. January consumer spending year-over-year growth jumped in January as the decline in
gasoline prices was lapped easing the drag on nondurables spending
3/15/16 Consumer Economics Chartbook - CKMcKay 4
-3%
-2%
-1%
0%
1%
2%
3%
4%
5%
6%
7%
8%
9%
10%
'11 '12 '13 '14 '15 '16
Nominal Consumer Spending Growth Y/Y%
Total Consumer
Spending
Durable Goods
Nondurable Goods
Services
Nondurable Goods
ex. Energy
Source: Bureau of Economic Analysis
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5. February retail sales growth disappointed and January’s unexpected gain was revised to a decline.
Gasoline station sales growth dipped but remained on a more positive trajectory due to the lapping of
the decline in gasoline prices
3/15/16 Consumer Economics Chartbook - CKMcKay 5
-25%
-20%
-15%
-10%
-5%
0%
5%
10%
15%
20%
25%
-10%
-8%
-6%
-4%
-2%
0%
2%
4%
6%
8%
10%
'11 '12 '13 '14 '15 '16
Retail Sales Growth Y/Y%
Total Retail Sales Excluding Autos Ex. Autos & Gasoline Stations Gasoline Stations (right scale)
Source: Census Bureau
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6. During the last four quarters e-commerce contributed over 55% of retail sales growth…
falling gasoline sales has accelerated e-commerce’s growth impact
3/15/16 Consumer Economics Chartbook - CKMcKay 6
-45%
-30%
-15%
0%
15%
30%
45%
60%
75%
-15%
-10%
-5%
0%
5%
10%
15%
20%
25%
'07 '08 '09 '10 '11 '12 '13 '14 '15
E-Commerce Sales Growth Y/Y%
Total Retail Sales E-commerce Total ex. E-commerce E-commerce Overall Growth Contribution 4QAverage (right scale)
Source: Census Bureau
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7. February’s jobs gains were better than forecasted, reversing January’s disappointing result.
Initial claims remain historically low… 12 month average job gains at early ‘06 levels
3/15/16 Consumer Economics Chartbook - CKMcKay 7
250
280
310
340
370
400
430
460
490
520
550
580
610
640
670
700-900
-800
-700
-600
-500
-400
-300
-200
-100
0
100
200
300
400
500
600
'07 '08 '09 '10 '11 '12 '13 '14 '15 '16
Monthly Employment Gains vs. Unemployment Claims (Thousands)
Monthly Payroll EmploymentGains 4 Week Moving Average UnemploymentClaims (rightscale inverted)
Source: Bureau of Labor Statistics
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8. The broader employment ratios have trended positively for the past several months, a sign
of a strengthening labor market
3/15/16 Consumer Economics Chartbook - CKMcKay 8
1%
2%
3%
4%
5%
6%
7%
8%
9%
10%
11%
57%
58%
59%
60%
61%
62%
63%
64%
65%
66%
67%
'07 '08 '09 '10 '11 '12 '13 '14 '15 '16
Employment Ratios
Labor Force Participation Rate Employment-Population Ratio UnemploymentRate (rightscale)
Source: Bureau of Labor Statistics
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9. Wage growth dipped unexpectedly in February dampening some of enthusiasm of an
otherwise positive jobs report
3/15//16 Consumer Economics Chartbook - CKMcKay 9
-1%
0%
1%
2%
3%
4%
'10 '11 '12 '13 '14 '15 '16
Wage Growth vs. Inflation
Average Hourly Earnings Y/Y Growth CPI Y/Y % Change Core CPI Y/Y % Change
Source: Bureau of Labor Statistics
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10. Revolving credit growth has accelerated since early ‘14; however, as a percentage of
disposable income revolving credit has remain stable at ~2ppt below its pre-recession level
3/15//16 Consumer Economics Chartbook - CKMcKay 10
-10%
-8%
-6%
-4%
-2%
0%
2%
4%
6%
8%
10%
$800
$825
$850
$875
$900
$925
$950
$975
$1,000
$1,025
$1,050
'07 '08 '09 '10 '11 '12 '13 '14 '15 '16
Consumer Revolving Credit
Consumer
Revolving
Credit
Outstanding
Consumer
Revolving
CreditY/Y%
Growth (right
scale)
Consumer
Revolving
Creditas a % of
Disposible
Personal
Income (right
scale)
Source: Federal Reserve, Bureau of Economic Analysis
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Billions
12. Consumer sentiment remained essentially unchanged and seems to be unable to gain
much momentum
3/15/16 Consumer Economics Chartbook - CKMcKay 12
-40%
-30%
-20%
-10%
0%
10%
20%
30%
40%
40
50
60
70
80
90
100
110
120
'07 '08 '09 '10 '11 '12 '13 '14 '15 '16
Consumer Sentiment
University of Michigan Consumer Sentiment Y/Y% Change (rightscale)
Source: Bureau of Labor Statistics
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13. Small business optimism declined 1.0ppt from January and is now at its lowest since
February ’14. The index has dropped 7.5ppt from its post recession peak
3/15/16 Consumer Economics Chartbook - CKMcKay 13
80
85
90
95
100
105
'07 '08 '09 '10 '11 '12 '13 '14 '15 '16
Small Business Optimism
NFIB Small Business Optimism Index 6 Month Moving Average
Source: National Federation of Independent Business
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