May 17, 2015
Clarksville, TN – The mid-month economic data disappointed. Retail sales were weaker than anticipated in April. Industrial production fell short of expectations. Consumer sentiment slid in the mid-May assessment.
However, weekly claims for unemployment benefits remained remarkably low. The reports on import prices and producer prices continued to show disinflationary pressures.
Real GDP for the euro area rose 0.4% q/q (a 1.7% annual rate) in the flash estimate for the first quarter. Bond yields in Europe moved higher, but seemed to meet some resistance.
May 14, 2015
Our 134th meeting.
Clarksville, TN – The next meeting of the Clarksville (TN) Civil War Roundtable will be on Wednesday, May 20th, 2015 at the Bone & Joint Center, 980 Professional Park Drive, right across the street from Gateway Medical Center. This is just off Dunlop Lane and Holiday Drive and only a few minutes east of Governor’s Square mall.
The meeting begins at 7:00pm and is always open to the public. Members please bring a friend or two – new recruits are always welcomed.
Topic: “The Confederate States Marine Corps”
May 10, 2015
Clarksville, TN – The April employment report was in line with expectations. Details suggested: 1) a rebound from March weather effects; 2) some moderation in the underlying pace of job growth (relative to the very brisk pace of 4Q14); and 3) a very gradual pace of reduction in labor market slack.
Nonfarm payrolls rose by 223,000, while the weather-restrained March increase was revised down to +85,000 (from +126,000) – leaving an average monthly gain of 154,000 for March and April. The unemployment rate was essentially unchanged at 5.4%. Average hourly earnings rose 0.1%, up 2.2% year-over-year (still lackluster).
Austin Peay State University Center of Excellence for the Creative Arts awards Summer Research Fellowships
May 8, 2015
Clarksville, TN – For more than 25 years, thehas been providing students with a one-of-a-kind experience in visual arts, music, creative writing, theatre and dance.
To further the Center’s goals of fostering the next generation of creative thinkers, a trio of students was recently honored with the Center’s first-ever Undergraduate Research Fellowship.
APSU students Megan Oelgoetz, Benjamin McCormack and Conor Scruton were chosen for the inaugural fellowship, each presenting a paper outlining their passions and, if selected, the topics they would choose to explore during their fellowship. [Read more]
May 6, 2015
Clarksville, TN – GDP growth slowed to a 0.2% annual rate in the advance estimate for 1Q15, reflecting a variety of restraints (weather, West Coast port delays, the strong dollar, and a contraction in energy exploration), many of which are likely to be transitional. Consumer spending rose at a 1.9% pace (vs. +4.4% in 4Q14). Business investment fell, with “mining exploration, shafts, and wells” falling at a 48.7% annual rate.
Inventories rose more than anticipated, adding 0.7 percentage point to growth. Net exports subtracted 1.3 percentage points. Personal income was flat in March, but inflation-adjusted disposable income rose at a 6.2% annual rate in 1Q15 (which is likely to support consumer spending growth in 2Q15).
May 3, 2015
Clarksville, TN – Clarksville Foundry, one of Clarksville, Tennessee’s most historic businesses – and among the oldest operating foundries in the United States – has been owned and operated by members of the Foust family since 1912. In fact, the origins of this durable Foundry date to 1847.
Recently, a fourth generation of the Foust family – William “Bill” Foust – made an important career move by choosing to join the family business and continue the Foust tradition. Bill is the son of current President and CEO Charles Foust Jr.
April 28, 2015
Clarksville, TN – The economic calendar was light. Existing home sales were stronger than anticipated in March, but new home sales fell far short of expectations. Durable goods orders jumped 4.0%, but that reflected a surge in aircraft orders (which tend to be erratic). Ex-transportation, orders fell 0.2%.
Orders for core capital goods (nondefense and excluding aircraft) fell 0.5%, the seventh consecutive monthly decline. Unfilled orders (ex-transportation) fell further (not a good sign), while the inventory-to-shipment ratio continued to trend higher – both of these indicators bear watching, but neither is at a dangerous level.
April 23, 2015
Clarksville, TN – The Customs House museum will be changing out its spaces at the end of the month, leaving less than two weeks for art lovers to view the current exhibits by award-winning artists.
The museum offers an average of thirty temporary shows each year, and the current ones features a variety of styles and subject matter.
April 21, 2015
Clarksville, TN – The final Roy Acuff Chair of Excellence recipient of 2014-15, Grammy Award winning flutist Rhonda Larson, will bring her talents to campus for a series of lectures and master classes atthe week of April 21st-28th.
During her residency, Larson will share her experiences as a performing artist, as well as offering insight and lessons to APSU and area students. Her visit to campus will conclude on Tuesday, April 28th, with a concert with the APSU Wind Ensemble under the direction of Dr. Gregory Wolynec. The event will take place at 7:30pm at the Mabry Concert Hall, on the campus of APSU.
April 19, 2015
Clarksville, TN – The economic data reports were mixed. Retail sales picked up in March, following a weak trend in the three previous months. Industrial production fell 0.6%, reflecting a plunge in oil and gas drilling and a decrease in the output of utilities (more normal temperatures).
Manufacturing output edged up 0.1%, with mixed results across industries. Building permits and housing starts fell in March, largely reflecting the usual volatility in the multi-family sector. Single-family permits, the key figure in the report, rose 2.1% (up 4.1% y/y).