Saturday, March 28, 2015

POSTED: Monday, March 2, 2015, 3:51 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:  February Supply Managers’ Manufacturing Index and January Income and Spending

KEY DATA:  ISM (Manufacturing): -0.6 point; Hiring: -2.7 points/ Inflation-Adjusted Disposable Income: +0.9%; Inflation-Adjusted Consumption: +0.3%

IN A NUTSHELL:  “A decline in energy costs is allowing households to spend more and that should keep growth going solidly.”

Joel L. Naroff @ 3:51 PM  Permalink | 0 comments
POSTED: Thursday, February 26, 2015, 4:02 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:  Jan. Consumer Prices, Real Earnings, Durable Goods Orders, Weekly Jobless Claims

KEY DATA:  CPI: -0.7%; Excluding Food and Energy: +0.2%/ Real Hourly Earnings: +1.2%/ Durable Orders: +2.8%; Excluding Aircraft: -0.3%/ Claims: +31,000

IN A NUTSHELL:  “Low inflation is improving household spending power and with the dam that has been holding back wage gains starting to break, we could continue to see solid income increases even without declines in gasoline prices.”

Joel L. Naroff @ 4:02 PM  Permalink | 0 comments
POSTED: Tuesday, February 24, 2015, 12:23 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:  February Consumer Confidence, Philadelphia Fed Non-Manufacturing Survey and December Case-Shiller Home Prices

KEY DATA:  Confidence: +9.8 points; Philadelphia Fed (Non-Manufacturing): +38.1 points; Case-Shiller National Prices (Year-over-Year): up 4.6%

IN A NUTSHELL:   “Housing sales may be going nowhere, but with prices rising and confidence soaring, the conditions are there for a better market in the months ahead.”

Joel L. Naroff @ 12:23 PM  Permalink | 0 comments
POSTED: Monday, February 23, 2015, 12:45 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:  January Existing Home Sales

KEY DATA:  Sales: -4.9%; Median Prices (Year-over-Year): +6.2%

IN A NUTSHELL:  “Economic performance remained mixed in January as manufacturers kept expanding but housing continued to wander around.”

Joel L. Naroff @ 12:45 PM  Permalink | 0 comments
POSTED: Wednesday, February 18, 2015, 12:36 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:  January Housing Starts, Industrial Production and Producer Prices

KEY DATA:  Starts: -2%; Permits: -0.7%/ IP: +0.2%; manufacturing: +0.2%/ PPI: -0.8%; Non-Energy: -0.2%

IN A NUTSHELL:  “Economic performance remained mixed in January as manufacturers kept expanding but housing continued to wander around.”

Joel L. Naroff @ 12:36 PM  Permalink | 0 comments
POSTED: Friday, February 13, 2015, 3:21 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:  January Import and Export Prices

KEY DATA:  Imports: -2.8%; Nonfuel: -0.7%; Fuel: -16.9%/ Exports: -2%; Farm: -1.2%

IN A NUTSHELL:  “If you want to know why some at the Fed worry more about too low inflation rather than future high inflation, the sharp declines in import prices is a very good place to start.”

Joel L. Naroff @ 3:21 PM  Permalink | 0 comments
POSTED: Friday, February 13, 2015, 3:16 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:  January Retail Sales and Weekly Jobless Claims

KEY DATA:  Sales: -0.8%; Excluding Gasoline: 0%; Vehicles: -1%/ Claims: 304,000 (+25,000)

IN A NUTSHELL:  “January consumer spending has started off slowly, though with the strong job gains, that is not expected to last.”

Joel L. Naroff @ 3:16 PM  Permalink | 0 comments
POSTED: Thursday, February 12, 2015, 11:56 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 Retail Sales and Weekly Jobless Claims

KEY DATA:  Sales: -0.8%; Excluding Gasoline: 0%; Vehicles: -1%/ Claims: 304,000 (+25,000)

IN A NUTSHELL:  “January consumer spending has started off slowly, though with the strong job gains, that is not expected to last.”

Joel L. Naroff @ 11:56 AM  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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