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Industrial production was strong in August 2018 according to the latest data from the Federal Reserve. Output of all physically made wares increased 0.4 percent.  Perhaps more importantly, this uptick was on the heels of July’s upwardly revised tally which also grew 0.4 percent (originally 0.1 percent), and June’s increase of 0.4 percent as well.

Retails sales decelerated in August 2018 according to data from the Census Bureau.  Retail receipts grew 0.1 percent in the period after gaining 0.7 percent in July.  And that’s the rub; July’s tally was upwardly revised from an already strong 0.5 percent count in the initial report.  This strength gave August a tough comparison, so even though the month-over-month gr

Our central bank is charged with a dual mandate.  In short, they are trying to steer the economy toward two seemingly opposing goals: full-employment and steady inflation.  When trying to focus on bolstering employment, the Federal Reserve tends to keep interest rates low which encourages borrowing, thus boosting output and, ultimately, jobs.  Alternatively, during periods of hig

A long-term record for small business economic enthusiasm was broken in August 2018 according to the National Federation of Independent Business.  Their optimism index reached 108.8 after hitting 107.9 in July.  This most recent uptick put the tally above its previous high-water mark of 108 set in 1983.

Output accelerated in August 2018 according to data from the Institute for Supply Management.  Manufacturing’s reading increased to 61.3 from an already hot 58.1.  Likewise, services jumped to 58.5 from 55.7.  Remember, readings above 50 for these indicators are acceptable, so America’s economy appears to be moving along swimmingly.

With more complete data collected, the Bureau of Labor Statistics (BLS) revised their second quarter of 2018 report on Productivity and Unit Labor Costs.  However, the revisions were minor.  Productivity remained at 2.9 percent from April through June, up from 0.4 percent in the first three months of the year, and is the largest quarterly gain since the first quarter of 2015 (3.1 perc