Monday, January 26, 2015

POSTED: Thursday, January 22, 2015, 9:28 AM
iStock photo of $100 bills. A western Pennsylvania teen will spend four years on probation for bleaching 18 $5 bills that he reprinted as $100s and spent at several businesses.

INDICATOR:  December Housing Starts and Permits

KEY DATA:  Start: +4.4%; 1-Family: +7.2%; Multi-Family: -0.8%; Permits: -1.9%; 1-Family: +4.5%; Multi-Family: -11.8%

IN A NUTSHELL:  “Residential construction is picking up, especially in the key single-family segment and that bodes well for growth going forward.”

Joel L. Naroff @ 9:28 AM  Permalink | 0 comments
POSTED: Thursday, January 15, 2015, 3:53 PM
iStock photo of $100 bills. A western Pennsylvania teen will spend four years on probation for bleaching 18 $5 bills that he reprinted as $100s and spent at several businesses.

INDICATOR:  December Producer Prices, January New York and Philadelphia Fed Surveys and Weekly Jobless Claims

KEY DATA:  PPI: -0.3%; Goods less Energy: +0.2%; Services: +0.2%/ NY Fed: up 11.2 points/ Philadelphia Fed: -18 points/ Jobless Claims: 316,000 (+19,000)

IN A NUTSHELL:  “It’s fun to talk about deflation but the data don’t show it is an issue.”

Joel L. Naroff @ 3:53 PM  Permalink | 0 comments
POSTED: Wednesday, January 14, 2015, 9:55 AM
iStock photo of $100 bills. A western Pennsylvania teen will spend four years on probation for bleaching 18 $5 bills that he reprinted as $100s and spent at several businesses.

INDICATOR:  December Retail Sales and Import Prices

KEY DATA:  Sales: -0.9%; Gasoline: -6.5%; Internet: -0.3%/Import Prices: -2.5%; Nonfuel: -0.1%; Exports: -1.2%; Farm: -0.7%

IN A NUTSHELL:  “It doesn’t look like consumers shopped ‘till they were tired, let alone ‘till they dropped in December.”

Joel L. Naroff @ 9:55 AM  Permalink | 0 comments
POSTED: Tuesday, January 13, 2015, 4:23 PM
iStock photo of $100 bills. A western Pennsylvania teen will spend four years on probation for bleaching 18 $5 bills that he reprinted as $100s and spent at several businesses.

INDICATOR:  November Job Openings and December NFIB Small Business Survey and Employment Trends

KEY DATA:  Openings: +142,000; Hires: -111,000/NFIB Optimism: +2.3 points/Employment Trends: +0.5%

IN A NUTSHELL:  “Though small businesses are becoming more optimistic and job openings are increasing, hiring has yet to hit its full stride.”

Joel L. Naroff @ 4:23 PM  Permalink | 0 comments
POSTED: Friday, January 9, 2015, 10:38 AM
iStock photo of $100 bills. A western Pennsylvania teen will spend four years on probation for bleaching 18 $5 bills that he reprinted as $100s and spent at several businesses.

INDICATOR:  December Employment Report

KEY DATA:  Payrolls: +252,000; Revisions: +50,000; Private Sector: +240,000; Unemployment Rate: 5.6% (down 0.2 percentage point); Hourly Wages: -0.2%

IN A NUTSHELL:  “Firms may be hiring like crazy but they are not paying up for those workers, at least not yet.”

Joel L. Naroff @ 10:38 AM  Permalink | 0 comments
POSTED: Wednesday, January 7, 2015, 3:05 PM
iStock photo of $100 bills. A western Pennsylvania teen will spend four years on probation for bleaching 18 $5 bills that he reprinted as $100s and spent at several businesses.

INDICATOR:  December ADP Jobs, Conference Board Help Wanted Online and November Trade Deficit

KEY DATA:  ADP: 241,000/Help Wanted Online: -79,200/Trade Deficit: $39 billion ($3.2 billion narrower)

IN A NUTSHELL:  “A solid labor market coupled with a narrowing trade deficit points to continued strong growth ahead.”

Joel L. Naroff @ 3:05 PM  Permalink | 0 comments
POSTED: Tuesday, January 6, 2015, 11:32 AM
iStock photo of $100 bills. A western Pennsylvania teen will spend four years on probation for bleaching 18 $5 bills that he reprinted as $100s and spent at several businesses.

INDICATOR:  January Supply Managers’ Non-Manufacturing Survey, November Durable Goods Orders and Home Prices

KEY DATA: ISM (Non-Manufacturing): -3.1 points/Employment: -0.7 point/Orders: -0.7%; Capital Spending: 0%/Home Prices (monthly): +0.1%; Over-the-Year: +5.5% 

IN A NUTSHELL: “The economy hardly ended the year with a bang, but only because the recent pace was not sustainable.”

Joel L. Naroff @ 11:32 AM  Permalink | 0 comments
POSTED: Friday, January 2, 2015, 1:43 PM
iStock photo of $100 bills. A western Pennsylvania teen will spend four years on probation for bleaching 18 $5 bills that he reprinted as $100s and spent at several businesses.

INDICATOR:  December Supply Managers’ Manufacturing Index and November Construction

KEY DATA:  ISM (Manufacturing): -3.2 points; Orders: -8.7 points; Employment: +1.9 points/Construction: -0.3%; Private Residential: +0.9%

IN A NUTSHELL:  “Manufacturing’s robust growth rate has slowed to only a strong pace.”

Joel L. Naroff @ 1:43 PM  Permalink | 0 comments
About this blog
Joel L. Naroff is the president and founder of Naroff Economic Advisors, a strategic economic consulting firm in Bucks County. He advises companies across the country on the risks and opportunities that economic developments may have on the organization’s operating environment. An accomplished public speaker, Joel’s humor and unique ability to make economics understandable have brought him a wide following. Reach Joel at joel@naroffeconomics.com .

Joel Naroff
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