US Housing Market Data Response CoreLogic House Prices (Jan. 13) House prices rose strongly at the start of 2013 and are likely to perform well across the year as a whole. This is set to be another tear-away year for the housing recovery. 5th March 2013 · 1 min read
Canada Economics Weekly Better business optimism to prop up GDP The recent improvement in small and medium-sized business optimism concurs with our forecast that economic growth rebounded at the start of 2013. However, the underlying details of the survey suggest... 4th March 2013 · 1 min read
US Economics Weekly Businesses shrugging off fiscal uncertainty The sequestration spending cuts will probably only remain in place for a couple of months until Congress reaches a wider budget agreement, so the overall impact on the economy should be modest. More... 4th March 2013 · 1 min read
US Data Response ISM Manufacturing Index (Feb.) The rise in the ISM manufacturing index to a 20-month high of 54.2 in February, from 53.1, suggests that US producers are undeterred by the fragile recovery in overseas manufacturing activity, for now... 1st March 2013 · 1 min read
Canada Data Response GDP (Q4 2012) Canada's economic slowdown over the second half of last year and uncertain prospects ahead put additional pressure on the Bank of Canada to completely abandon its tightening bias next week. Given the... 1st March 2013 · 1 min read
US Data Response Personal Income & Spending (Jan.) Households absorbed the large drop in income in January by reducing their saving rather than their spending. But the effects of the payroll tax hike and the latest surge in gasoline prices will... 1st March 2013 · 1 min read
US Employment Report Preview Earnings growth won’t take off Our econometric model suggests that payrolls rose by around 175,000 in February, which would leave employment growing at much the same pace as in recent months. Without a meaningful acceleration in... 28th February 2013 · 1 min read
US Data Response Durable Goods (Jan.) January's durable goods report is a lot better than the 5.2% m/m drop in headline orders suggests, even after factoring in the downward revision to December's gain, which was trimmed to 3.7% m/m from... 27th February 2013 · 1 min read
US Economics Update US banks well placed to boost lending further The FDIC’s banking profile for the fourth quarter of last year shows that US banks are well placed to continue boosting lending to both firms and households. At the same time, there is not much... 26th February 2013 · 1 min read
Bank of Canada Watch Don't rule out future interest rate cuts The FDIC’s banking profile for the fourth quarter of last year shows that US banks are well placed to continue boosting lending to both firms and households. At the same time, there is not much... 26th February 2013 · 1 min read
US Housing Market Data Response Case-Shiller Prices & New Home Sales (Q4/Jan.) House prices ended 2012 on a high note and new home sales got off to a very strong start in 2013. Put simply, the housing recovery continues to accelerate. 26th February 2013 · 1 min read
US Economics Update Bernanke weighs the costs and benefits of more QE Fed Chairman Ben Bernanke's semi-annual congressional testimony confirmed that the FOMC is paying a lot more attention to the potential costs of continuing with its quantitative easing this year... 26th February 2013 · 1 min read
US Data Response Conf. Board Consumer Confidence (Feb.) Despite lower household income and surging gasoline prices, consumers were relatively upbeat in February. The Conference Board's measure of consumer confidence rose for the first time in four months... 26th February 2013 · 1 min read
US Chart Pack Rising gasoline prices another blow for households The surge in retail gasoline prices to $3.80 per gallon, from $3.40 only a month ago, will put more pressure on households who are already struggling to cope with the expiry of the payroll tax cut... 25th February 2013 · 1 min read
US Housing Market Focus Will housing equity withdrawal return this year? Rising house prices, more home sales, and a slight loosening in credit conditions should see housing equity withdrawal turn positive in 2013 or soon after. Nevertheless, the amount of equity extracted... 25th February 2013 · 1 min read
Canada Economics Weekly Is Canada's economy grinding to a standstill? We estimate that Canada's economy grew by roughly 0.5% annualised over the entire second half of last year and is likely to perform little better over the first half of this year. Trade competiveness... 25th February 2013 · 1 min read
