All Posts Tagged: hourly earnings
Recently released U.S. inflation data appear to support the Federal Reserve’s decision to pause in their interest rate hiking campaign. Overall consumer price inflation slowed to a modest 1.5% in February, down from 2.9% in June 2018.
Much of the moderation in the headline rate over the past year has been due to declines in energy, transportation, and apparel prices. Core consumer prices, which exclude the volatile food and energy components, rose 2.1% in February, down from 2.3% late last year.
For more on this, see highlights of my report below, followed by a link to the full U.S. Outlook, delivered on March 15.Key observations:
- Annual producer price growth was as high as 2.8% in mid-2018, but has been trending down ever since.
- Average hourly earnings increased 3.4% from a year ago in February, a post-recession high and a sharp jump from 2.3% growth back in October 2017.
- Slower economic growth in 2020 is expected to begin pushing consumer inflation back below 2.0% yet again.
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February’s lackluster jobs data add to a growing chorus of weak economic indicators. Does this point to a deterioration in global economic activity in Q1? Read Scott Anderson’s analysis in the U.S. Outlook.Read More ›
Will moderate growth continue? Scott Anderson analyzes the economic data in this week’s U.S. Outlook.Read More ›
Rather than a scary October payroll report appropriate for the Halloween season, investors and analysts received an early Thanksgiving surprise.Read More ›