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Retail sales added to economic output as 2017 came to a close according to the Census Bureau.  Spending totaled $495.4 billion in December, rising 0.4 percent.  Compared to a year earlier, retail sales improved 5.4 percent.  Additionally, November’s count was revised upward to 0.9 percent from the already impressive 0.8 percent jump in the initial release.

Prices paid by Americans were higher in December 2017 according to data from the Bureau of Labor Statistics.  However, the rates of change were mixed.  For instance, the month-over-month Consumer Price Index (CPI) decelerated to just 0.1 percent after hitting 0.4 percent a month earlier, and the year-over-year tally slowed to 2.1 percent from 2.2 percent.  However, core-CPI (whic

As the dust settled, it became apparent that 2017 was one for the records.  Unfortunately, natural catastrophes were what set many of the records.  According to Munich Re (a reinsurer), insured disasters globally reached an all-time high cost of $135 billion., nearly three times higher than the annual average of $49 billion.  Sadly, this figure covers just 41 percent of the total

Prices paid by wholesalers and producers fell during December according to the Bureau of Labor Statistics.  Their Producer Price Index (PPI) declined 0.1 percent in the period.  Versus a year earlier, this measure decelerated to 2.6 percent from 3.1 percent in November.  Core-PPI, which removes food and energy because of their volatility, fell 0.1 percent to end the year and slow

Winter temperature weren’t the only things cooling off as last year came to a close.  The December 2017 reading of the National Federation of Independent Business (NFIB) small business optimism index shed some of its recent heat as well.  Fortunately, the cooling was more like that of Southern California and not the East.

America’s leadership in the global economic expansion is evident in the November 2017 Trade Balance report from the Bureau of Economic Analysis.  America is increasing its purchases from foreign countries faster than trading partners are increasing their purchases from our nation; an important takeaway is that both imports and exports are expanding.  With a shortfall of $50.5 bi

Our modern world is full of distractions.  Beeps, buzzes, custom ringtones, and dings interrupt thoughts daily.  These intrusions often keep us from completing tasks at hand because they consistently cause our interests to change.  In other words, our rate of interest grows for the present distraction while declining from a relatively longer-term goal, possibly sacrificing poster

America’s economic expansion showed no signs of fatigue in December 2017 according to data from the Institute for Supply Management.  Both sides of the economy maintained readings well above the breakeven level of 50.0.  The cyclically sensitive manufacturing segment accelerated to a reading of 59.7 (a 14-year high) from the already impressive tally of 58.2 in November.  Se

New home sales growth was strong in November 2017 according to data from the Census Bureau.  Rising to 733,000 units on a seasonally adjusted annualized basis, its 17.5 percent surge is the largest in 25 years.  Compared to a year earlier, transactions increased 26.6 percent. 

America’s economy continued adding jobs in December 2017 according to the latest data from the Bureau of Labor Statistics (BLS).  Employers hired a net 148,000 new workers as the year came to a close.  Despite the monthly increase in jobs, the unemployment rate held steady at 4.1 percent as the number of available workers also rose in the period.