PM Datanote: U.S. Pending Home Sales, December

Downturn in home sales coming to an end, but sustained recovery is a long way off.

Kieran Clancy (U.S. Economist)U.S.

PM Datanote: U.S. Personal Income and Spending, December

January spending will rebound, but Q1 will be weak overall; core inflation is falling.

Kieran Clancy (U.S. Economist)U.S.

PM Datanote: U.S. New Home Sales, December

The slump in new home prices has much further to run

Kieran Clancy (U.S. Economist)U.S.

PM Datanote: U.S. Durable Goods Orders/Advance Goods Trade, December

Falling core goods orders bad news for manufacturing; big swings in trade deficit less likely in 2023

Kieran Clancy (U.S. Economist)U.S.

PM Datanote: U.S. Existing Home Sales, December

The fall in prices will gather pace in the months ahead

Kieran Clancy (U.S. Economist)U.S.

PM Datanote: U.S. Housing Starts, December

Building permits will find a floor in the first quarter

Kieran Clancy (U.S. Economist)U.S.

PM Datanote: U.S. Industrial Production, December

Ouch, and little respite in sight

Kieran Clancy (U.S. Economist)U.S.

PM Datanote: U.S.Producer Prices, December

Margins are now falling, depressing core PPI inflation, with a long, long way to go

Kieran Clancy (U.S. Economist)U.S.

PM Datanote: U.S. Retail Sales, December

Consumption on the ropes heading into 2023

Kieran Clancy (U.S. Economist)U.S.

PM Datanote: U.S.CPI, December/Weekly Jobless Claims

Improving core trend is now in place.

Kieran Clancy (U.S. Economist)U.S.

12 Jan 2023 US Monitor December's Core CPI Data Should Reinforce the Improving Trend

• A third straight benign core CPI print for December would complete the best streak in two years.
• Look out for falling vehicle prices and airline fares, and—perhaps—slower rent increases.
• Jobless claims likely stayed low last week, but rising layoff announcement signal trouble ahead.

Ian Shepherdson (Chief Economist and Founder)U.S.

PM Datanote: U.S. NFIB Survey, December

Cheaper gas not enough to cheer small businesses

Kieran Clancy (U.S. Economist)U.S.

PM Datanote: U.S. ISM Services, December

Ouch

Kieran Clancy (U.S. Economist)U.S.

PM Datanote: U.S. Employment, December

Payrolls can't keep up this pace; wage growth is slowing

Kieran Clancy (U.S. Economist)U.S.

PM Datanote: U.S. FOMC Minutes, December

Sticking to their guns, mostly

Kieran Clancy (U.S. Economist)U.S.

PM Datanote: U.S. ISM Manufacturing, December

Few reasons to be bullish about manufacturing

Kieran Clancy (U.S. Economist)U.S.

PM Datanote: U.S. NAHB Homebuilders Survey, December

Sales nearing the incompressible minimum level

Kieran Clancy (U.S. Economist)U.S.

PM Datanote: U.S. FOMC Announcement, December 14

Higher inflation and rate forecasts hard to square with the improving data

Kieran Clancy (U.S. Economist)U.S.

PM Datanote: U.S. Univ. of Mich. Consumer Sentiment, December

Consumers' confidence is improving, but consumption growth still set to slow in Q1.

Kieran Clancy (U.S. Economist)U.S.

PM Datanote: U.S. Weekly Jobless Claims, December 3

The trend is rising, but expect noise over the next few weeks.

Kieran Clancy (U.S. Economist)U.S.