Economy

Both the Associated Press and The Wall Street Journal seem a little puzzled. Conventional theory says that with interest rates and inflation so high, consumers should be pulling back on their spending. But instead, they are spending like drunken sailors. The fact some Americans are spending freely is, we think,

Economic activity in the services sector expanded in September for the ninth consecutive month as the Services PMI registered 53.6%, say the nation's purchasing and supply executives in the latest Services ISM® Report On Business®. The sector has grown in 39 of the last 40 months, with

Job creation in the United States slowed more than expected in August, according to ADP, a sign that the surprisingly resilient U.S. economy might be starting to ease under pressure from higher interest rates. The firm reported Wednesday that private employers added 177,000 jobs in August, well below

Midsize business leaders in the United States are far less optimistic about the national economy now than they were in the years before the pandemic. That's according to JP Morgan Chase's 2023 midyear Business Leaders Outlook survey, which found 29% of leaders have a positive outlook

The Federal Reserve left U.S. interest rates unchanged, but signaled more hikes are in the cards with some hawkish projections for the economy.  James Knightley, chief international economist, says a "one-meeting pause makes little sense given the long lags involved with monetary police.  With the disinflationary tend set

Economic activity in the services sector expanded in May for the fifth consecutive month as the Services PMI registered 50.3%, say the nation’s purchasing and supply executives in the latest Services ISM Report On Business. The sector has grown in 35 of the last 36 months, with the

Beer Institute and National Beer Wholesalers Association's biennial "Beer Serves America" report on the economic impact and importance of the American beer industry also found the industry contributes more than $409 billion to the U.S. economy, pays more than $132 billion in wages and nearly

Manufacturing is expected to expand at a slower pace than projected in December 2022, with revenue expected to increase about 1.7%, capital spending to inch upward (0.4%).  Manufacturers are currently using about 82% of their capacity.   Meanwhile, the Services part of the economic is also expected to expand

Service sector growth in April rose just a smidgen – 51.9% – but that was all it took for respondents to the Services Index of the Institute for Supply Management.  It was the fourth month in which the Services PMI showed by being above 50%. “There has been a slight uptick

You recall the drama a few weeks ago when customers drained Silicon Valley Bank of much of its deposits.  The Feds stepped in, seized the bank and arranged the sale to another institution. You might have thought the SVB brand was so tarnished that the new owner, First Citizens Bank,