Wednesday, July 23, 2014
Inquirer Daily News

POSTED: Tuesday, July 15, 2014, 11:25 AM
In this photo taken May 14, 2014, Jody Dickman, of Pittsburgh, shops at a Gap store in Pittsburgh. The Commerce Department releases retail sales data for June on Tuesday, July 15, 2014. (AP Photo/Gene J. Puskar)

INDICATOR: June Retail Sales and Import Prices

KEY DATA: Retail Sales: +0.2%; Excluding Vehicles: +0.4%/Import Prices: +0.1%; Excluding Fuel: -0.1%

IN A NUTSHELL: "Consumer exuberance remains restrained and that raises questions about how strong the economy can or will grow."

Joel L. Naroff @ 11:25 AM  Permalink | 0
POSTED: Tuesday, July 8, 2014, 3:28 PM
That more work needs to be done before firms are forced to start bidding for workers is clear, but that time may not be far off. (istock photo)

INDICATOR: May Job Openings and Labor Turnover Survey

KEY DATA: Openings: +171,000; Hiring: -52,000; Quits: +60,000

IN A NUTSHELL: "Rising openings and increasing labor turnover is another sign that the labor market is improving rapidly."

Joel L. Naroff @ 3:28 PM  Permalink | 0
POSTED: Tuesday, July 1, 2014, 1:47 PM
In this Friday, May 16, 2014 photo, cranes fill the skyline at the Brickell CityCentre construction site located in the center of the Brickell financial district in downtown Miami. The project is mixed use office, residential, hotel, retail and entertainment space. The Commerce Department reports on U.S. construction spending in May on Tuesday, July 1, 2014. (AP Photo/Lynne Sladky)

INDICATOR: June Supply Managers' Manufacturing Index and May Construction

KEY DATA: ISM (Manufacturing): down 0.1 point; Orders: up 2 points: Employment: flat/ Construction: up 0.1%

IN A NUTSHELL: "Manufacturing activity remains solid and the sharp rise in demand points to improvement going forward."

Joel L. Naroff @ 1:47 PM  Permalink | 0
POSTED: Monday, June 16, 2014, 12:15 PM
In this March 26, 2014 photo, Jerry Drury installs parts on a truck engine assembly line at Volvo Trucks' powertrain manufacturing facility in Hagerstown, Md. The Federal Reserve releases industrial production figures for May on Monday, June 16, 2014. (AP Photo/Patrick Semansky)

INDICATOR: May Industrial Production and June Empire State Index

KEY DATA: IP: +0.6%; Manufacturing: +0.6%/Empire State: +0.2 point; Orders: +8 points

IN A NUTSHELL: "With manufacturing accelerating, there is every good reason to believe that the economy is beginning to hit its stride."

Joel L. Naroff @ 12:15 PM  Permalink | 0
POSTED: Thursday, June 12, 2014, 11:06 AM
In this June 5, 2014 photo, Chelsea Vick shops for clothes at Wal-Mart Supercenter in Rogers, Ark. The Commerce Department releases retail sales data for May on Thursday, June 12, 2014. (AP Photo/Sarah Bentham)

INDICATOR: May Retail Sales and Import and Export Prices

KEY DATA: Sales: +0.3%; Excluding Vehicle: +0.1%/Non-Fuel Import Prices: 0%; Farm Export Prices: +0.5%/Jobless Claims: 317,000 (up 4,000)

IN A NUTSHELL: "Consumers are out shopping but maybe not as much as hoped."

Joel L. Naroff @ 11:06 AM  Permalink | 0
POSTED: Friday, June 6, 2014, 11:30 AM
In this April 23, 2014 photo, Luke Gill, of Quicken Loans, left, talks with job candidate Jasmine Boykins at a job fair at the Matrix Center in Detroit. The government issues its May jobs report on Friday, June 6, 2014. (AP Photo/The Detroit News, David Coates)

INDICATOR: May Employment Report

KEY DATA: Payrolls: +217,000; Private: 216,000; Unemployment Rate: 6.3% (unchanged); Hourly Wages: +0.2%

IN A NUTSHELL: "A better than expected employment report reinforces the belief that the labor market is strengthening and the economy is picking up steam."

Joel L. Naroff @ 11:30 AM  Permalink | 0
POSTED: Wednesday, June 4, 2014, 12:50 PM
In this May 16, 2014 photo, Megan Lory, left, talks with Sandra Modena, Sales Manager at Trillium Staffing, at the annual veterans job fair aboard the LST in downtown Muskegon, Mich. Payroll processor ADP reports how many jobs private employers added in May on Wednesday, June 4, 2014. (AP Photo / The Muskegon Chronicle, Madelyn Hastings)

INDICATOR: May ADP Jobs Estimate and April Trade Deficit

KEY DATA: ADP: 179,000; 500-999 employees: -3,000/Trade Deficit: $47.2 billion ($3 billion wider)

IN A NUTSHELL: "May job growth may have been a little less than expected but with imports rising, it looks like the economy is moving forward solidly."

Joel L. Naroff @ 12:50 PM  Permalink | 0
POSTED: Tuesday, June 3, 2014, 3:04 PM
(istock photo)

INDICATOR: April CoreLogic Housing Prices and Revised ISM Index

KEY DATA: CoreLogic (monthly): +2.1%; Year-over-Year: +10.5%/ISM (Manufacturing): +0.5 points; Orders: +1.8 points; Employment: -1.9 points

IN A NUTSHELL: "Housing price increases remain pretty solid and with the economy improving, we should see sales continue to rise."

Joel L. Naroff @ 3:04 PM  Permalink | 0
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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