To boost European economic activity, the ECB lowered the rate it pays banks that have deposits with it from -0.2% to -0.3%! These negative returns may encourage more lending, but I’m skeptical. It will, however, weaken the euro, boosting exports…
US manufacturing activity contracted in November, the first monthly decline since 11/12, the second since 07/09. Manufacturing is sputtering due to the strengthening dollar, anemic global growth, low commodity prices and poor capital spending due to lousy corporate profit growth.…
Between 1970 and 2009, US retail space grew 54% and peaked at 49.8 square feet/person. Since then, it’s fallen for six straight years and is now 48.3 square feet/person. Only one mall of at least a million square feet has…
Happy Hoteliers 2015 is shaping up to be the best year ever for hotels, better than the record year of 2000. Occupancy rates then were 66.9% YTD, they are now 67.9%. Year-to-date the average daily rate for an occupied room…
The Friday File: The busiest airport travel day of 2015 was August 7th, with 2.91 million sold seats. The day before Thanksgiving was the 121st busiest airport travel day of 2015. That said, November 29th, the Sunday after Thanksgiving will…
In 1960, the average weight of a commercial turkey was 16.8 pounds. By 1996 it was 23.7 pounds and today, thanks to the miracle of selective breeding, it’s 30.4 pounds. Because of the enormous rise in average weight, the number…
While Q3 GDP growth is now pegged at 2.1%, up from the first estimate of 1.5% last month, the revisions mix wasn’t great. The biggest contributor to the rise, inventory growth. This suggests Q4 GDP growth will be slightly weaker…
After hitting a post-recession low of 8 in mid-2011, the number of countries experiencing 2% inflation or less is now 42. Similarly, while no nations experienced inflation rates below zero back in mid-2011, now 20 nations are. Moreover, the number…
The Friday File: Based on answers given by 150,000 adults in 148 countries on a five-question multiple choice financial literacy test that included questions on inflation, interest rates, and investing and that always had a correct answer, the US came…
Q3 GDP growth in Europe slowed to 0.3%, from 0.4% in Q2 and 0.5% in Q1! Europe’s gains from cheaper oil and rising exports from the weakening euro appear over. With inflation in the Eurozone at 0.1% Y-o-Y, the ECB…