Personal Income Rose Solidly In December
Personal income rose 0.5% in December and revised data for the previous two months show income rising slightly faster than first reported. Consumer spending rose 0.2% during the month, but all of the gain was due to higher prices. After adjusting for inflation, spending was unchanged and rose 2.0% over…
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Employment Costs Remains Steady in the Fourth Quarter
Fourth quarter employment costs rose 0.8 percent, a pace similar to that of the last six quarters. Similarly, wage and benefit costs have grown at very steady rates too. Despite easing labor conditions, the Fed has little to fear from the benign rate of wage inflation at present.
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Forex Fundamental Outlook
Many data were released in the U.S. today. First, December personal income was up +0.5% while December personal spending was up +0.2%. Second, weekly initial jobless claims increased 69,000 to 375,000, the highest level since October 2005. These data are important because they evidence a potential deterioration in the U.S….
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Canadian Economy Posted Modest Gain in November
Canadian GDP grew in line with expectations in November, posting an overall gain of 0.1% over October. Broad-based gains in service industries (+0.2%) ? which account for about 70% of overall GDP ? were enough to offset a contraction in goods industries (-0.2%).
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U.S. Market Update
The USD remains on the soft side following the FOMC interest rate decision and related statements on Wednesday. The EUR/USD continued to hold above the 1.4830 technical pivot point through the early part of the NY session, but it is off its best session levels of 1.4914 seen in pre-European…
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Personal Spending for December Firmer than Expected
The December personal income and spending data for December was a generally a little better than expected. Personal income was up 0.5% M/M, following a 0.4% gain in November. And personal spending actually rose 0.2% M/M. This comes as a surprise in light of the disappointment in the fourth quarter…
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Major Market Movers: Income & Spending
The American public just seems eager to hold on to those extra cents earned, as they say keeping their good greens for bad days to come. The American economy is still not doing well and seemingly the Feds relentless efforts to save the economy need more time and thought…
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U.S. Households Boost Spending, Initial Jobless Claims Spike
Households increased their spending in December with personal consumer expenditures (PCE) increasing 0.2% after a 1.0% gain in November. Market expectations had been for a rise of 0.1%. Personal income was up 0.5% slightly higher than market expectations, while the core PCE deflator was up 0.2% in the month and…
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Pace of Canada’s Economy Moderates
Real gross domestic product was up only a modest 0.1% in November following a 0.2% rise in October. Output in the service-producing industries rose 0.2%, offsetting a 0.2% drop in the goods-producing sector. The increase was slightly below market expectations of a 0.2% rise.
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Canadian Growth Steady Through November
Growth in the world’s eight largest economy cooled slightly from October to November, though the monthly gauge put in for its 14th consecutive positive reading. The Canadian economy expanded 0.1 percent over the month of November, meeting expectations and slowing from the 0.2 percent pickup from the previous period. It…
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