All Posts Tagged: Scott Anderson

Retail Sales OK but Manufacturing Slump Continues

Scott Anderson
Chief Economist

Consumers continued to grow their spending in January in line with our forecasts. January’s advanced retail sales report showed a 0.3% gain on the month with retail sales excluding autos also increasing 0.3%. There was a small downward revision in December’s headline retail sales gain to 0.2% from 0.3% as originally reported.

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January’s Employment Gains Solid

Scott Anderson
Chief Economist

The January payroll report was a solid report across most metrics.

The headline nonfarm payroll gain of 225k jobs last month handily beat analysts’ forecasts looking for a gain of 165k jobs in January. U.S. nonfarm payroll growth was 1.8% on an annualized basis last month.

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Can the U.S. Consumer Sustain?

Scott Anderson
Chief Economist

Consumer confidence has rebounded strongly since August.
Record stock market prices and continued job growth have helped revive consumers’ spirts in recent months. The University of Michigan’s consumer sentiment measure jumped to 99.8 in its final reading for January – a full 10 point gain off the August lows and not far from the expansion highs of 101.4 hit way back in March of 2018.

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Monetary Medicine Floods the Financial Sector

Scott Anderson
Chief Economist

2019 was shaped by the Fed pivot. The Fed had anticipated three quarter point interest rate hikes in 2019, only to quickly change course early last year and ultimately cut the Fed funds rate three times between July and October to forestall a deteriorating global and U.S. growth outlook.

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