Clarksville Weekly Market Snapshot from Frazier Allen for the week of June 14th, 2015
June 14, 2015
Clarksville, TN – Economists began the week wondering why consumers hadn’t spent the windfall from lower gasoline prices. By the end of the week, we had a partial answer. Retail sales rose strongly in May, as expected. More importantly, we had upward revisions to the data for March and April.
The Bureau of Census also released its quarterly survey of services. These two reports paint a brighter consumer spending outlook and imply an upward revision to the estimate of 1Q15 GDP growth (the second estimate showed a -0.7% annual rate, but should be revised to show a much more modest decline or perhaps a slight increase).
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Clarksville Weekly Market Snapshot from Frazier Allen for the week of June 10th, 2015
June 10, 2015
Clarksville, TN – The economic data reports were mixed, but nonfarm payrolls rose more than expected (+280,000) in the initial estimate for May. Seasonal adjustment issues may have been a factor (as education job losses were a lot smaller than usual).
The unemployment rate edged up to 5.5%, but that partly reflected increased labor force participation for teenagers and young adults (also consistent with seasonal adjustment problems).
Mining, which includes energy exploration, fell by 17,200, down 68,400 since December.
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Clarksville Weekly Market Snapshot from Frazier Allen for the week of May 31st, 2015
May 31, 2015
Clarksville, TN – The economic data reports remained mixed. Real GDP fell at a 0.7% annual rate in the second estimate for 1Q15 (vs. +0.2% in the advance estimate). The revision largely reflected slower inventory growth and a wider trade deficit. Consumer spending rose at a 1.8% pace (vs. +1.9%), while business fixed investment fell 2.8% (vs. -3.8%).
There is currently a debate about whether the seasonal pattern in a number of GDP components may have changed post-recession. Unfortunately, we really don’t have enough data to say for sure.
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Frazier Allen lists Six ways to potentially boost your Retirement Savings
May 25, 2015
You may be able to get closer to reaching your goals with some small changes and tough choices
Clarksville, TN – If you’re concerned that you haven’t put enough away to retire, you have plenty of company – about one in four Americans feel the same way.1
The good news? You may be able to catch up – if you’re willing to be realistic and take steps to get on track, such as changing your current lifestyle (so you can save more) and your anticipated retirement lifestyle (so you will spend less).
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Clarksville Weekly Market Snapshot from Frazier Allen for the week of May 24th, 2015
May 24, 2015
Clarksville, TN – The economic data reports were mixed. Homebuilder sentiment declined in May, but residential homebuilding was stronger than expected in April.
Some of that reflects a rebound from bad weather, but it’s also a consequence of the high level of volatility in the multifamily sector (single-family permits were higher, but not exactly booming). Consumer price inflation remained negative on a year-over-year basis (-0.2%), but core inflation rose slightly more than anticipated.
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Frazier Allen gives Savvy Social Security strategies
May 19, 2015
Consider these ideas to help you make the most of your benefits
Clarksville, TN – Alongside other sources of income, Social Security can be a critical component of your total retirement resources, so it’s important to consider ways to optimize the value it can bring.
After all, these payments account for up to 40% of most retirees’ income, according to the Social Security Administration (SSA), with savings, pensions and retirement accounts making up the rest. Here are a few things you (and your spouse if you’re married) should think about as you get ready to retire.
Clarksville Weekly Market Snapshot from Frazier Allen for the week of May 17th, 2015
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.
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Clarksville Weekly Market Snapshot from Frazier Allen for the week of May 10th, 2015
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).
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Clarksville Weekly Market Snapshot from Frazier Allen for the week of May 6th, 2015
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).
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Clarksville Weekly Market Snapshot from Frazier Allen for the week of April 28th, 2015
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.
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