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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Unit Auto Sales Fell for a Fifth Consecutive Month as Shortages Continue
“Light-vehicle sales fell for a fifth consecutive month in September. Component shortages continue to disrupt production causing inventories to plunge and prices to surge.” – Robert Hughes
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Demand Remains Strong as Production Problems Persist for the Manufacturing Sector
“Demand for manufactured goods remained very strong in September. However, labor difficulties, materials shortages, and logistical issues continue to restrain supply and pressure prices.” – Robert Hughes
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Consumer Sentiment Improved in September but Remains Low
“Consumer sentiment remained weak in September as consumers react to Covid and high prices. The survey results suggest continued risks to the economic outlook.” – Robert Hughes
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Weekly Initial Claims for Unemployment Benefits Rose for the Third Consecutive Week
“Weekly initial claims for unemployment benefits rose for a third consecutive week, likely a result of the recent surge in new Covid cases. Federal continuing claims plunged as two pandemic programs saw steep declines.” – Robert Hughes
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Consumers’ Views of the Economy Fell in September
“Consumers are becoming less optimistic as Covid cases rise. The declining optimism is likely to have some impact on spending and remains a risk to the economic outlook.” – Robert Hughes
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Durable-Goods Orders Rose in August as Core Capital-Goods Hit Another Record High
“New orders for core capital goods hit another new high in August, the ninth record in the last ten months. Continued gains are a positive sign for the economic outlook.” – Robert Hughes
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New Single-Family Home Sales Rose but So Did Inventory and Months’ Supply
“New-home sales rose in August but so did inventory and months’ supply. Rising prices will likely continue to force some buyers out of the market, leading to additional inventory build and slower price increases.” – Robert Hughes
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•
Weekly Initial Claims for Unemployment Benefits Rise Again as Continuing Claims Fall
“Weekly initial claims for unemployment benefits rose for a second consecutive week, likely a result of the recent surge in new Covid cases. However, a tight labor market and a record number of open jobs should support a downward trend, but the path may be extended and more volatile.” – Robert Hughes
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•
Existing-Home Sales and Inventory Fell in August
“Existing-home sales and inventories fell slightly in August as high prices and shifting housing preferences weigh on activity.” – Robert Hughes
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•
Multifamily Segment Leads Housing Market Construction in August
“Multifamily housing activity has been surging recently while the single-family segment struggles. Uncertainty due to the latest wave of Covid combined with rising home prices and ongoing labor and materials shortages for builders all contribute to a challenging environment for housing.” – Robert Hughes
-
•
Unit Auto Sales Fell for a Fifth Consecutive Month as Shortages Continue
“Light-vehicle sales fell for a fifth consecutive month in September. Component shortages continue to disrupt production causing inventories to plunge and prices to surge.” – Robert Hughes
-
•
Demand Remains Strong as Production Problems Persist for the Manufacturing Sector
“Demand for manufactured goods remained very strong in September. However, labor difficulties, materials shortages, and logistical issues continue to restrain supply and pressure prices.” – Robert Hughes
-
•
Consumer Sentiment Improved in September but Remains Low
“Consumer sentiment remained weak in September as consumers react to Covid and high prices. The survey results suggest continued risks to the economic outlook.” – Robert Hughes
-
•
Weekly Initial Claims for Unemployment Benefits Rose for the Third Consecutive Week
“Weekly initial claims for unemployment benefits rose for a third consecutive week, likely a result of the recent surge in new Covid cases. Federal continuing claims plunged as two pandemic programs saw steep declines.” – Robert Hughes
-
•
Consumers’ Views of the Economy Fell in September
“Consumers are becoming less optimistic as Covid cases rise. The declining optimism is likely to have some impact on spending and remains a risk to the economic outlook.” – Robert Hughes
-
•
Durable-Goods Orders Rose in August as Core Capital-Goods Hit Another Record High
“New orders for core capital goods hit another new high in August, the ninth record in the last ten months. Continued gains are a positive sign for the economic outlook.” – Robert Hughes
-
•
New Single-Family Home Sales Rose but So Did Inventory and Months’ Supply
“New-home sales rose in August but so did inventory and months’ supply. Rising prices will likely continue to force some buyers out of the market, leading to additional inventory build and slower price increases.” – Robert Hughes
-
•
Weekly Initial Claims for Unemployment Benefits Rise Again as Continuing Claims Fall
“Weekly initial claims for unemployment benefits rose for a second consecutive week, likely a result of the recent surge in new Covid cases. However, a tight labor market and a record number of open jobs should support a downward trend, but the path may be extended and more volatile.” – Robert Hughes
-
•
Existing-Home Sales and Inventory Fell in August
“Existing-home sales and inventories fell slightly in August as high prices and shifting housing preferences weigh on activity.” – Robert Hughes
-
•
Multifamily Segment Leads Housing Market Construction in August
“Multifamily housing activity has been surging recently while the single-family segment struggles. Uncertainty due to the latest wave of Covid combined with rising home prices and ongoing labor and materials shortages for builders all contribute to a challenging environment for housing.” – Robert Hughes