US Data Response Industrial Production (Apr.) Industrial production was unchanged in April and manufacturing output fell by 0.4% m/m, largely because of the disruption to motor vehicle production, which is being hampered by parts shortages in the... 17th May 2011 · 1 min read
US Housing Market Data Response Housing Starts (Apr.) As most of the sharp fall in housing starts in April was due to the tornados that battered the south of the nation last month, homebuilding activity will probably bounce back in May. That said, at a... 17th May 2011 · 1 min read
US Economics Update Monetary Indicators Monitor (Apr.) The annual growth rate of money, including our measure of the M3 aggregate, continued to accelerate in April. Nevertheless, at a time when T-bill rates have fallen even closer to zero, we suspect this... 16th May 2011 · 1 min read
Canada Data Response Survey of Manufacturing (Mar.) March's survey of manufacturers offers some encouraging news in the form of higher sales volumes and a jump in unfilled orders. With autos production operating at lower levels due to parts supply... 16th May 2011 · 1 min read
US Housing Market Focus Rental market set to shine Over the next five years the rental market will be the best performing part of the residential housing market, with the multi-family sector doing particularly well. A sustained rise in rents is... 16th May 2011 · 1 min read
US Economics Weekly What's driven the rebound in exports? It's taken over two years, but the US is at last exporting as much as it was before the recession. And the lower dollar may soon give exports an extra lift. Nevertheless, as imports are rising just as... 16th May 2011 · 1 min read
Canada Economics Weekly Underlying inflation remains benign Last week's drop back in commodity prices was a stark reminder of why the Bank of Canada has largely ignored what looks increasingly like a temporary commodities-related spike in consumer price... 16th May 2011 · 1 min read
US Data Response Consumer Prices (Apr.) The pass through of higher commodity prices pushed consumer price inflation up to a two-and-a-half-year high of 3.2% in April, from 2.7%. Nevertheless, with commodity prices now dropping back, the Fed... 13th May 2011 · 1 min read
US Data Response Retail Sales & Producer Prices (Apr.) April's retail sales data were something of a double-edged sword. Upward revisions to sales in both February and March mean that annualised GDP growth in the first quarter may be revised up from 1.8%... 12th May 2011 · 1 min read
US Housing Market Chart Pack Price declines accelerating The latest evidence suggests that prices have started to fall at a faster pace once again. After having dropped by 1.0% m/m in both December and January, prices on the seasonally adjusted FHFA index... 11th May 2011 · 1 min read
Canada Data Response International Merchandise Trade (Mar.) Following the boost from a rebound in energy output late last year, export growth held up relatively well in Q1, thanks in part to a rebound in the auto sector. March’s trade data suggest the economy... 11th May 2011 · 1 min read
US Data Response International Trade (Mar.) It's taken two-and-a-half years, but US exports finally recovered in March to the levels seen before the recession. However, imports have risen just as fast. As the level of imports is still much... 11th May 2011 · 1 min read
Global Markets Update Profits of doom The growth rate of US domestic corporate profits has outstripped the growth rate of the US economy significantly since the end of the Great Recession. However, corporate profits are now coming under... 9th May 2011 · 1 min read
US Housing Market Update Outlook for condo prices not as bleak Recent news has highlighted the severity of the renewed downturn in prices of single-family homes. Although condominiums will not escape altogether, over the next year or so condo prices are likely to... 9th May 2011 · 1 min read
Canada Economics Weekly Business sector will buffer construction downturn Stronger business investment in non-residential structures should at least partly buffer the negative impact on the construction sector from an expected downturn in homebuilding and the tailing off of... 9th May 2011 · 1 min read
US Economics Weekly Treasury getting perilously close to debt ceiling In all likelihood, the Federal government will hit its debt ceiling at the start of next week, although the Treasury can use a number of accounting tricks to delay the day of reckoning, perhaps until... 9th May 2011 · 1 min read
