More Moderate Growth Ahead, But GDP Forecast to Reach Pre-Pandemic Levels by Second Half of Next Year
Staffing Industry Analysts (12/7/2020) More moderate economic growth is ahead, according to the National Association for Business Economics’ Outlook report based on a survey of 48 professional forecasters. Despite being less upbeat over the near term, the report found 73% of panelists believe the US economy will be back to pre-Covid levels by the second […]
Steepest Improvement in Operating Conditions Since September 2014
IHS Markit News Release- December 1, 2020 November data signaled a notable improvement in the health of the U.S. manufacturing sector, according to IHS Markit. Overall growth was supported by faster upturns in output and new orders amid stronger domestic and foreign client demand. The seasonally adjusted IHS Markit final U.S. Manufacturing Purchasing Managers’ Index […]
Forecast For U.S. GDP Gets Downgrade, But Jobs Projections Improve
Staffing Industry Analysts- Novebmer 16, 2020 Economists downgraded their forecast for growth in US gross domestic product for the remainder of this year and the first nine months of 2021, according to the Philadelphia Federal Reserve’s Survey of Professional Forecasters for the fourth quarter. However, they don’t believe the US unemployment rate will be as […]
Jobless Claims Down By the Most in Five Weeks
Staffing Industry Analysts- November 12, 2020 US jobless claims last week fell by the most in five weeks, Bloomberg reports. Initial jobless claims fell by 48,000 in the week ended Nov. 7 to a total of 709,000, which is below economists’ projections. The US labor market is showing a gradual recovery despite the recent surge in […]
Manufacturing Activity Advanced in October
Institute for Supply Management News Release (11/02/2020) Economic activity in the manufacturing sector grew in October, according to the Institute for Supply Management. ISM’s purchasing managers index registered 59.3%, up from the September reading of 55.4% and the highest since September 2018 (59.3%). This figure indicates expansion in the overall economy for the sixth month […]
Economic Activity Rises Amid Tight Labor Market
U.S. Federal Reserve (10/21/20) Economic activity continued to increase across all districts, with the pace of growth characterized as slight to modest in most districts. Changes in activity varied greatly by sector. Manufacturing activity generally increased at a moderate pace. Consumer spending growth remained positive, but some districts reported a leveling off of retail sales […]