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Janet Yellen, the Chair of the Board of Governors of the Federal Reserve System, has very little explaining left to do.  She presided over her penultimate Federal Open Market Committee (FOMC) meeting, followed by a press conference; her final meeting, coming at the end of January, is not scheduled to include news organizations.

America’s trade deficit worsened as the fourth quarter of 2017 got underway.  According to the Bureau of Economic Analysis, our nation’s trading shortfall reached $48.7 billion, up from the downwardly revised chasm of $44.9 billion in September (originally $43.5 billion).  In short, the two components of trade (imports and exports) moved in opposite directions.

After more data were collected from the Bureau of Labor Statistics, a revised report on third-quarter 2017 productivity and unit labor costs was released.  Productivity was unchanged in the revision, and unit labor costs figures were revised marginally.  Output per labor hour held steady at 3.0 percent in the revision, but this is nearly double the pace in the prior quarter.  Uni

Economic activity remained strong in November 2017 according to the latest data from the Institute for Supply Management.  Both the goods and services sides of the economy maintained tallies well over 50.0, the level considered neither expansionary nor contractionary.  This continued strength bodes well for the fourth quarter figure on Gross Domestic Product (GDP) which will be releas

America’s labor market remained strong during November 2017 according to data from the Bureau of Labor Statistics.  After adding 244,000 in October (downwardly revised from 268,000), employers increased payrolls by 228,000 in the penultimate month of the year.  Our nation’s unemployment rate held steady at 4.1 percent, tied the lowest level since December 2000. 

Natural disasters make headlines each year, and 2017 has been no exception.  To the best of my knowledge, friends of Atlas have escaped relatively unscathed despite living in Florida, Texas, New Orleans, California, and on the east coast.  It is The Golden State’s turn to lead the stories above the fold as Santa Ana winds fuel fires from Ventura to Los Angeles to San Bernardino.

Two popular measures of consumer attitudes were mixed in November 2017, but they both remain relatively elevated.  Consumer Confidence put out by the Conference Board hit a new 17-year high, reaching 129.5.  Consumer Sentiment from the University of Michigan declined to 98.5 from 100.7, the highest peak of the last decade.

Economic output in America from July through September 2017 was even better than first counted.  With more complete data collected, the Bureau of Economic Analysis now estimates gross domestic product (GDP) grew 3.3 percent on an inflation-adjusted annualized basis during the third quarter of this year, upwardly revised from 3.0 percent in the earliest estimate.  Output improved by th

New home sales in America have been strong during the past couple of months according to data from the Census Bureau.  After surging 14.2 percent in September, this volatile indicator continued its upward trend in October 2017 by adding another 6.2 percent.  With contract signings reaching 685,000 on an annualized basis, this latest swell puts the indicator at its best level in the cu

Orders for wares expected to last three years or longer fell in October according to the Census Bureau.  After jumping 2.2 percent in September, Durable Goods Orders gave back over half of the prior month’s gain, falling 1.2 percent.  This monthly setback put downward pressure on the annual trend which dropped to just 1.0 percent versus the upwardly revised count of 8.4 percent