Econ70

Annualized seasonally adjusted US auto sales hit 17.8 million last month, despite recent stock market gyrations. It was the single best month since 07/05, with the average transaction price hitting $33,543, 3.4% higher Y-o-Y, on booming pickup/cross-over/minivan/SUV sales, which were…

Crude prices jumped 25% between 8/27/15 and 8/31/15, it’s best performance in decades! During that period OPEC said it would trim output if non-OPEC members would, data suggest US production in 6/15 was down to 9.3 million bbl/day its lowest…

While US consumer spending, job growth and Q2 GDP are strong, European inflation is stuck at 0.2%/year, Japanese GDP fell 0.4% in Q2/15, Indian growth was a disappointing 7% in Q2/15 and China continues slowing. This means central banks in…

The Friday File: The highest paid actress between 6/1/14-6/1/15 was Jennifer Lawrence, earning $52 million, followed by Scarlett Johansson at $35.5 million. 10th on the list, Kristen Stewart at $12 million. The top man, Robert Downey, Jr. at $80 million,…

Today’s revised estimate of Q2 GDP to 3.7% puts it into the top fifth of all quarters since 2006. Most of the increase was due to improved June data, suggesting the economy strengthened as the quarter progressed. Consumer spending, the…

Of the 101 nations considered “developing” in 1960, only eight, Hong Kong, Ireland, Israel, Japan, Singapore, South Korea, Spain and Taiwan, are currently classified “developed”. Greece and Portugal are on the cusp. While going from undeveloped to developing is hard,…

Economic activity in the US remains solid, albeit unspectacular. Today consumer confidence came in at 101.5, near its best level since 2007, and annualized July new homes sales rose 5%! Moreover, the Congressional Budget Office estimates that the FY2015 budget…

What is perhaps most remarkable is that the recent financial market turmoil is not emanating from Greek, Japanese, European or US economic weakness, but rather from slowing growth in the developing world. Exacerbating this is a total lack of confidence…

The Friday File: Contrary to popular belief, commercials featuring sex and violence or neutral ads that appear during violent or sexual programs are, at best, no more effective than ads with neutral themes that appear during neutral settings. Apparently, viewers…

Renewed oil and commodity price declines, along with deflationary pressures from a slowing China and its currency devaluation, has sown fear that developing nations will slow further, leading to capital outflows which will weaken their currencies and lead to even…