Federal Reserve Bank of Philadelphia (06/18/21) The U.S. economy’s output (real gross domestic product) will grow at an annual rate of 7.8% during the first half of 2021, according to a survey of 19 forecasters by the Federal Reserve Bank of Philadelphia. The economic rebound is expected to continue in the second half of 2021 when growth is expected to be at an annual rate
Federal Reserve Bank of Richmond (06/22/21) Mid-Atlantic manufacturing activity strengthened in June, according to the Federal Reserve Bank of Richmond. The composite index rose from 18 in May to 22 in June. This was driven by an increase in the new orders index, while the other two component indexes—shipments and employment—also remained in expansionary territory. Overall, respondents saw improvement in local business conditions and were
Projections for US gross domestic product were revised upward sharply while projections for the US unemployment rate were lowered, according to the Livingston Survey of economists released on June 18 by the Federal Reserve Bank of Philadelphia. They expect real GDP to grow 6.7% in the second half of this year. The previous survey forecast growth of just 3.7%. In addition, the US unemployment rate
Reuters (06/08/21) U.S. job openings surged by nearly one million to a new record high in April, while more people voluntarily left their employment, strengthening the view that a recent moderation in job growth was due to supply constraints. Job openings, a measure of labor demand, increased by 998,000 to 9.3 million on the last day of April, the highest level since the series began
ManpowerGroup News Release (06/08/21) The great rehiring is beginning in the U.S. with more than 7,300 employers reporting the most optimistic outlooks since 2000 for the three months ahead, according to the latest ManpowerGroup Employment Outlook Survey. Employers in all 12 U.S. industries report positive outlooks, with the strongest hiring activity forecast for leisure and hospitality (+41%), wholesale and retail trade (+29%), education and health
Federal Reserve Bank of Richmond (05/25/21) Mid-Atlantic manufacturing activity strengthened in May, according to the Federal Reserve Bank of Richmond. The composite index inched up from 17 in April to 18 in May, as all three component indexes—shipments, new orders, and employment—reflected growth. Overall, manufacturers reported improved business conditions. Many firms increased employment and wages in May. However, they struggled to find workers with the
