U.S. Consumer Spending Rises 5.6% in June
"The explosion of COVID-19 infections ... is casting doubt on the magnitude of the expected surge in third-quarter consumer spending."
U.S. Economy Shrinks by Record 32.9% in Q2
“It’s a very deep and dark hole and we’re coming out of it, but it’ going to take a long time to get out.”
U.S. Durable Goods Orders Jump 7.3% in June
“The sugar rush from re-openings has now faded and a resurgence of domestic coronavirus cases ... will weigh heavily on business investment."
Housing Starts Rebound With 17.3% Increase
“With a staggering 32 million Americans collecting unemployment checks and lumber prices at a two-year high, a robust housing market is unlikely.”
U.S. Factory Orders Tumble 17.2% in April
"While this recession didn't start with a capital spending slump, the weakness in investment spending could take a long time to dissipate."
U.S. Consumer Spending Plunges Record 7.5%
The March decline in spending "is the tip of the iceberg. The worst is yet to come with the April data.”
U.S. GDP Sinks 4.8% As Virus Ends Expansion
“If the economy fell this hard in the first quarter, don’t ask how far it will crater in the second quarter because it is going to be a complete disaster."
U.S. Retail Sales Plunge Record 8.7% in March
With coronavirus lockdowns starting only in the middle of March, "far worse is to come in April and the second quarter more generally."
U.S. Consumer Spending Increases 0.2% in January
“Consumers shielded the economy from global headwinds for most of 2019 but they won’t prove immune to the coronavirus outbreak."
U.S. Economy Posts Smallest Annual Gain Since 2016
“Certainly, the economy isn’t firing on all cylinders, but it also doesn’t appear to be at risk of stalling out either.”
Media to Go Tech-Free in Data Release ‘Lockups’
The Trump administration says reporters' use of computers in secure lockup rooms can give high-speed traders a "head start" on market-moving news.