Who is Attending the Davos World Economic Forum and Who Is Not

The world’s elite, well sans Russians, are hobnobbing it in the Swiss Alps at the World Economic Forum’s annual meeting in Davos from Sunday (May 22) through Thursday. The gathering was nixed for last two years with the coronavirus pandemic. Not to say the elites haven’t been trying to shape, and profit from all and sundry in that time. About 2500 participants are registered, down from 3000 at the last gathering in January 2020. What is notable is who isn’t … Continue reading “Who is Attending the Davos World Economic Forum and Who Is Not”

American Household Financial Stress Highest Level Since Outset of the Pandemic in April 2020

The IBD/TIPP Economic Optimism Index fell to 41.2 in May of 2022 from 45.5 in April only barely above March’s eight-year low of 41. Rising interest rates, Russia’s war in Ukraine, and China’s COVID-related lockdowns all impacted the mood.  The six-month outlook for the US economy tumbled 6.5 points to 33.2, the lowest level since August 2011. IBD/TIPP Economic Optimism Index May of 2022 IBD/TIPP Economic Optimism Index in the US fell to 41.2 in May of 2022 from 45.5 … Continue reading “American Household Financial Stress Highest Level Since Outset of the Pandemic in April 2020”

Dismal US Q1 GDP Shrank 1.4% vs +1.1% expected

The US economy had the first contraction since early in the pandemic shrining 1.4% in the first quarter after it was expected to grow 1.1%. The decline in U.S. gross domestic product was a sharp reversal from the 6.9% annual growth rate in the fourth quarter, the Commerce Department said Thursday. The drop in GDP was fueled by a widening trade deficit. Fading government stimulus spending related to the pandemic weighed on GDP. USA Advance Q1 2022 GDP highlights The … Continue reading “Dismal US Q1 GDP Shrank 1.4% vs +1.1% expected”

U.S. Personal Income Flat While Core PCE Rose +5.2% in January, largest increase since April 1983

US Personal income was flat month-over-month in January as rising prices increased at their fastest rate in 40 years. Rising energy prices continue to be a key factor driving inflation and global oil prices have been moving steadily higher in recent days following Russia’s invasion of Ukraine, which could disrupt supply. The core PCE price index gained 5.2% annually, the largest increase since April 1983. The PCE price index is closely watched since it is the preferred inflation measure of … Continue reading “U.S. Personal Income Flat While Core PCE Rose +5.2% in January, largest increase since April 1983”

IMF Cuts 2022 Global Growth With US, China and EU all Downgraded

The International Monetary Fund on Tuesday downgraded its 2022 global growth forecast to 4.4% in its World Economic Outlook report. The IMF said it expects global gross domestic product to grow 0.5% less than previously estimated. The revision is largely due to lower growth in the world’s two largest economies: the U.S. and China. Rising Covid-19 cases, supply chain disruptions and higher inflation have hampered the economic recovery. “The global economy enters 2022 in a weaker position than previously expected,” … Continue reading “IMF Cuts 2022 Global Growth With US, China and EU all Downgraded”

Surge in Transportation Equipment See US Durable Goods Orders Jump

US durable goods orders rose 2.5 percent in November, following after a 0.4 percent decrease in October. New orders for transportation equipment surged 6.5%, powered by a 34.1% increase in new orders for nondefense aircraft and parts. Total durable goods orders rose 2.5% month-over-month in November (consensus +1.5%). November Durable Goods Orders Highlights US Durables Goods Orders Nov P: 2.5% (exp 1.8%; prev -0.4%) US Durables Ex-Transportations Nov P: 0.8% (exp 0.6%; R prev 0.3%) New orders for primary metals … Continue reading “Surge in Transportation Equipment See US Durable Goods Orders Jump”

US Durable Goods Fell Again In October With Slumping Aircraft Orders

US durable goods orders fell 0.5 percent in October, following after a 0.4 percent decrease in September. Transportation equipment (-2.6 percent), specifically nondefense aircraft and parts (-14.5 percent) and defense aircraft and parts (-21.8 percent).   Total durable goods orders rose 1.8% month-over-month in August (consensus +0.6%). October Durable Goods Orders Highlights US Durable Goods Orders Oct P: -0.5% (est 0.2%; prev -0.3%; prevR -0.4%) US Durables Ex-Transportation Oct P: 0.5% (est 0.5%; prev 0.5%; prevR 0.7) Orders declined for … Continue reading “US Durable Goods Fell Again In October With Slumping Aircraft Orders”

Federal Reserve Beige Book Highlights Positive Growth in Consumer Spending

The Federal Reserve released it’s Biege Book Wednesday with the focus on growth in consumer spending. Most Districts reported significantly elevated prices, fueled by rising demand for goods and raw materials.