Economic growth appears on track to record a stellar performance in Q2, fueled by strong business investment, tax cuts and an ever-t...
US Economic Update June-July 2018
Decent read here on how the lack of union membership has allowed for greater wage inequality. My argument is that we are more deal...
Princeton economists find that unions had historical role in helping address income inequality
Sales of new single-family houses in May 2018 were at a seasonally adjusted annual rate of 689,000, according to estimates released j...
Census Housing Report
Housing in America is going full blast. All across the spectrum there is activity and it seems to be increasing despite recent rate...
Leading Up To The May 2018 Residential Housing Census Report
REAL SECTOR | Growth momentum stays solid in most countries, although Puerto Rico distorts the regional picture Preliminary estimate...
Central America and Caribbean Economic Outlook Worsens
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From The BLS : Over the last 12 months, food prices increased 1.2 percent, with prices for food away from home rising 2.7 percent, an...
Consumer Price Index May 2018
From The BLS:
Energy prices increased 11.7 percent over the past year, with prices for three of the four major components rising. Gasoline prices increased 21.8 percent, fuel oil prices rose 25.3 percent, and electricity prices increased 1.0 percent. Prices for natural gas fell 0.8 percent over the year.
Prices for all items less food and energy rose 2.2 percent over the past 12 months. Prices for shelter rose 3.5 percent over the last 12 months, and prices for medical care services rose 2.3 percent. Prices that declined over the past 12 months include those for new vehicles, airline fares, used cars and trucks, and communication.
The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2 percent in May on a seasonally adjusted basis after rising 0.2 percent in April, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index rose 2.8 percent before seasonal adjustment. The indexes for gasoline and shelter were the largest factors in the seasonally adjusted increase in the all items index, as they were in April. The gasoline index increased 1.7 percent, more than offsetting declines in some of the other energy component indexes and led to a 0.9-percent rise in the energy index. The medical care index rose 0.2 percent. The food index was unchanged over the month. The index for all items less food and energy rose 0.2 percent in May. The shelter index rose 0.3 percent in May. The indexes for new vehicles, education and communication, and tobacco increased in May, while the indexes for household furnishing and operations, and used cars and trucks fell. The indexes for apparel, recreation, and personal care were unchanged. The all items index rose 2.8 percent for the 12 months ending May, continuing its upward trend since the beginning of the year. The index for all items less food and energy rose 2.2 percent for the 12 months ending May. The food index increased 1.2 percent, and the energy index rose 11.7 percent.
Atlanta Fed president and CEO Raphael Bostic speaks at the Rotary Club of Savannah about the Fed's recent policy move and economic resil...
Atlanta Fed CEO On Economic Resilience
Atlanta Fed president and CEO Raphael Bostic speaks at the Rotary Club of Savannah about the Fed's recent policy move and economic resilience:
- Bostic sees output growing at a moderately above-trend pace this year and next, then slowing to a pace that corresponds with the longer-run potential of the economy, which is slightly less than 2 percent.
- Bostic believes that community-based investment is one way to think about the kinds of local investments that help to translate growth into community assets that expand opportunity for people living in conditions of economic distress.
Argentina and the IMF reached a preliminary agreement on 7 June for a three-year USD 50 billion stand-by arrangement that will...
Outlook Worsens In Argentina
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Splitting Up California is The Right Thing To Do... A proposal to split California into 3 states will be on November’s ball...
Splitting Up California is The Right Thing To Do
“Three states will get us better infrastructure, better education and lower taxes,” Tim Draper, the Silicon Valley venture capitalist who sponsored the ballot measure, said in an email to The Times last summer when he formally submitted the proposal. “States will be more accountable to us and can cooperate and compete for citizens.” - LA TIMES
And in the far north region of California, some residents have pushed to form a new state with parts of southern Oregon, and wouldn’t be keen on being lumped together with liberal San Francisco as envisioned by Draper’s map. - Bloomberg
Economically speaking - off the cuff - San Fran, San Jose, LA and San Diego are classic - textbook - examples of housing bubbles. San Fran is such a fervent display of a housing bubble that people spend their entire career studying and researching the man made housing shortage. It is staggering that such housing shortage can happen in a mega-populated state - even when you break up California the population and economic numbers are among the largest in the US.
Initiative 17-0018 (Amdt. #1)
Mounting geopolitical risks threaten MENA’s nascent economic recovery The Middle East and North Africa’s (MENA) region...
Mounting Geopolitical Risks Threaten Middle East Economic Recovery
4 June 2018 that OPEC members and Russia were ready to increase output to rebalance the oil market. In the political arena, Lebanon is struggling to form a coalition government after Iran-backed Hezbollah and its allies won the 6 May general election. In Iraq, the 12 May general election was plagued with irregularities; on May 30, the electoral commission annulled votes cast at more than 1,000 of the country’s polling stations. While a repetition of the election is highly unlikely, disputes over the results will add additional strain to the negotiations to form a new coalition government and could generate social instability. In Jordan, Hani Al-Mulki resigned as prime minister on 4 June amid protests against the government over its ongoing economic reforms, including price hikes and a controversial income tax reform. Omar Razzaz, the former education minister, was put in charge by the king of forming a new cabinet. OUTLOOK | Geopolitical risks take their toll on MENA’s 2018 economic outlook The MENA region’s economy is experiencing a recovery this year largely due to higher oil prices, healthy global growth, relatively loose financial conditions and bolder fiscal support in key countries such as Qatar, Saudi Arabia and the UAE. Political risks, however, are gradually materializing, endangering the long-awaited economic rebound. The spat between Iran and the U.S. and its regional allies represents the main regional threat to the region’s economic outlook. The impact of the U.S. decision to abandon the Iran nuclear deal will be felt not only in the Persian country but also in other countries in the region such as Iraq and Lebanon. Moreover, social tensions are resurfacing in Egypt, Jordan and Morocco, while the long-standing conflict between Israel and Palestinians has flared up again in recent weeks. Elsewhere in the MENA region, the establishment of secure governments in Iraq and Lebanon is key to cementing political stability. The MENA regional economy is expected to expand 2.7% in 2018, which is down 0.1 percentage points from last month’s estimate. Our panel projects growth of 3.1% next year. This month’s downgrade for the 2018 economic outlook reflects lower growth prospects for Iran, Iraq, Kuwait, Lebanon and Qatar. Projections were left stable in Bahrain, Israel, Jordan, Morocco, Oman, Saudi Arabia, Tunisia, the UAE and Yemen. This month, Algeria and Egypt were the sole economies to receive upgrades for their 2018 GDP outlooks. Egypt’s economy is expected to be the top performer in 2018, followed by Israel’s. At the other end of the spectrum, Yemen, which is entangled in a bloody civil war, is expected to contract for the fifth consecutive year. Among other major economies, Saudi Arabia’s economy is expected to return to growth this year, but the expansion will be limited by reduced oil output in compliance with the global oil cut deal. Israel should continue to expand at a fast pace on strong private consumption and fixed investment growth.
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From Mizuho: In the Japan-US summit meeting on April 17-18, issues on North Korea and trade were the main topics. Concerning the trade is...
Japan: The Economy June 2018
While the outlook moderates, the economy lost steam in Q1. Analysts see a gradual recovery this year and next, with inflation staying near 2% from raw material and rising labor costs.
Employment
According to the Labour Force Survey and Mizuho Research, the number of employed persons in Japan FY2017 reached an all time high - or a historical high - of 65.57M. There has been a dramatic increase in female employment as well. Well, for starts Japan realized that last year (FY2017) the country reached a historical employment high — and that included record amounts of women entering the work force. The shift in numbers of females from part-time to full-time / regular employment in the welfare, medical and healthcare sectors will increase the average wage per worker too.