Robert Hughes
Senior Research Faculty
Robert Hughes joined AIER in 2013 following more than 25 years in economic and financial markets research on Wall Street. Bob was formerly the head of Global Equity Strategy for Brown Brothers Harriman, where he developed equity investment strategy combining top-down macro analysis with bottom-up fundamentals. Prior to BBH, Bob was a Senior Equity Strategist for State Street Global Markets, Senior Economic Strategist with Prudential Equity Group and Senior Economist and Financial Markets Analyst for Citicorp Investment Services. Bob has a MA in economics from Fordham University and a BS in business from Lehigh University.
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New Home Sales Rose Again in November, But the Outlook Remains Cautious
“New-home sales rose in November but remain below its long-term average. High prices, bloated inventory, and elevated mortgage rates suggest a poor outlook.” ~ Robert Hughes
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Durable-Goods Orders Declined in November
“Durable-goods orders fell in November while growth in real durable-goods orders and real core capital goods orders remains modest.” ~ Robert Hughes
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Consumer Services Push Revised Third Quarter GDP Higher
“Headline real GDP growth was revised higher in the third quarter, but domestic demand growth remained soft. Caution is warranted.” ~ Robert Hughes
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Existing Home Sales Continue to Plunge
“Existing-home sales fell again in November as reduced affordability pushes buyers out of the market. The outlook for housing remains unfavorable.” ~ Robert Hughes
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Consumer Confidence Rose and Inflation Expectations Fell in December
“Consumer confidence rebounded in December, but consumer expectations remain at recessionary levels. An aggressive Fed tightening cycle, elevated price pressures, and the fallout from the Russian war in Ukraine remain risks for the economic outlook.” ~ Robert Hughes
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New Home Construction Outlook Remains Weak
“New housing permits fell again in November as low affordability suppresses demand. Very low homebuilder sentiment suggests an unfavorable outlook for housing.” ~ Robert Hughes
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•
Retail Sales Post Broad-based Declines in November
“Nominal and real retail spending fell in November, and trends remain weak. Risks for the economic outlook remain elevated. Caution is warranted.” ~ Robert Hughes
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•
Manufacturing Sector Declines in November
“Industrial-sector output fell in November. Elevated price pressures, weak consumer sentiment, and an aggressive Fed tightening cycle remain risks. Caution is warranted.” ~ Robert Hughes
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•
Initial Unemployment Claims Fall While Continuing Claims Jump
“Initial claims fell to a three-month low while continuing claims jumped to an eight-month high. Elevated consumer price increases and aggressive Fed tightening remain major risks for the economic outlook.” ~ Robert Hughes
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AIER’s Everyday Price Index Falls for the Fourth Time in Five Months
“AIER’s Everyday Price Index fell 0.2 in November, the fourth decline in the last five months. An aggressive Fed tightening cycle, consumer pessimism, and fallout from the Russian invasion of Ukraine remain threats to the economic outlook.” ~ Robert Hughes
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•
New Home Sales Rose Again in November, But the Outlook Remains Cautious
“New-home sales rose in November but remain below its long-term average. High prices, bloated inventory, and elevated mortgage rates suggest a poor outlook.” ~ Robert Hughes
-
•
Durable-Goods Orders Declined in November
“Durable-goods orders fell in November while growth in real durable-goods orders and real core capital goods orders remains modest.” ~ Robert Hughes
-
•
Consumer Services Push Revised Third Quarter GDP Higher
“Headline real GDP growth was revised higher in the third quarter, but domestic demand growth remained soft. Caution is warranted.” ~ Robert Hughes
-
•
Existing Home Sales Continue to Plunge
“Existing-home sales fell again in November as reduced affordability pushes buyers out of the market. The outlook for housing remains unfavorable.” ~ Robert Hughes
-
•
Consumer Confidence Rose and Inflation Expectations Fell in December
“Consumer confidence rebounded in December, but consumer expectations remain at recessionary levels. An aggressive Fed tightening cycle, elevated price pressures, and the fallout from the Russian war in Ukraine remain risks for the economic outlook.” ~ Robert Hughes
-
•
New Home Construction Outlook Remains Weak
“New housing permits fell again in November as low affordability suppresses demand. Very low homebuilder sentiment suggests an unfavorable outlook for housing.” ~ Robert Hughes
-
•
Retail Sales Post Broad-based Declines in November
“Nominal and real retail spending fell in November, and trends remain weak. Risks for the economic outlook remain elevated. Caution is warranted.” ~ Robert Hughes
-
•
Manufacturing Sector Declines in November
“Industrial-sector output fell in November. Elevated price pressures, weak consumer sentiment, and an aggressive Fed tightening cycle remain risks. Caution is warranted.” ~ Robert Hughes
-
•
Initial Unemployment Claims Fall While Continuing Claims Jump
“Initial claims fell to a three-month low while continuing claims jumped to an eight-month high. Elevated consumer price increases and aggressive Fed tightening remain major risks for the economic outlook.” ~ Robert Hughes
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•
AIER’s Everyday Price Index Falls for the Fourth Time in Five Months
“AIER’s Everyday Price Index fell 0.2 in November, the fourth decline in the last five months. An aggressive Fed tightening cycle, consumer pessimism, and fallout from the Russian invasion of Ukraine remain threats to the economic outlook.” ~ Robert Hughes