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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Single-Family Housing Activity Is Trending Flat
Home sales rebounded in June. However, little evidence supports an expectation of a significant, sustained acceleration in housing activity in the coming months and quarters.
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Durable-Goods Orders Rose in June
Durable-goods orders rose in June, and core capital-goods orders are holding at a high level. Continued economic expansion remains the most likely path, but policy uncertainty remains a risk.
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Existing-Home Sales Fall Again in June
Despite falling mortgage rates, existing-home sales fell and home-price increases decelerated in May.
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Consumer Spending and Manufacturing Output Improve in June
Retail sales and industrial production improved in June, but data for the economy remain mixed. Overall, continued economic expansion remains the most likely path, but caution is warranted.
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Small-Business Confidence Holding at a High Level
Small-business confidence and job openings eased back but remain at high levels. Both are positive signs for the economy despite the high level of uncertainty caused by erratic and uncertain policy.
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Job Creation Rebounds in June
U.S. nonfarm payrolls added 224,000 jobs in June, all but guaranteeing a record-tying expansion, but uncertain leadership and policy remain significant risks.
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Slow Growth Continues as Expansion Sets Record
A variety of data released today suggest continued economic expansion. Despite concerns over trade policy, escalating trade wars, and global economic growth that are creating significant uncertainty, the outlook is cautiously optimistic.
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Manufacturing Expansion Slowed for a Third Month in a Row in June
The Manufacturing Purchasing Managers Index posted its third straight decline and lowest reading since October 2016. Mixed economic data continue to suggest a high degree of caution amid slow economic expansion.
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Sentiment Fell in June Despite Gains in Income and Spending in May
Consumer sentiment fell slightly in June but remains at a high level while income and spending continued to grow in May. Tariffs and trade wars remain a significant risk.
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•
Core Capital-Goods Orders Holding Near Record High
New orders for durable goods decreased in May while core capital-goods orders rose; both appear to be plateauing amid rising uncertainty regarding the economic outlook.
-
•
Single-Family Housing Activity Is Trending Flat
Home sales rebounded in June. However, little evidence supports an expectation of a significant, sustained acceleration in housing activity in the coming months and quarters.
-
•
Durable-Goods Orders Rose in June
Durable-goods orders rose in June, and core capital-goods orders are holding at a high level. Continued economic expansion remains the most likely path, but policy uncertainty remains a risk.
-
•
Existing-Home Sales Fall Again in June
Despite falling mortgage rates, existing-home sales fell and home-price increases decelerated in May.
-
•
Consumer Spending and Manufacturing Output Improve in June
Retail sales and industrial production improved in June, but data for the economy remain mixed. Overall, continued economic expansion remains the most likely path, but caution is warranted.
-
•
Small-Business Confidence Holding at a High Level
Small-business confidence and job openings eased back but remain at high levels. Both are positive signs for the economy despite the high level of uncertainty caused by erratic and uncertain policy.
-
•
Job Creation Rebounds in June
U.S. nonfarm payrolls added 224,000 jobs in June, all but guaranteeing a record-tying expansion, but uncertain leadership and policy remain significant risks.
-
•
Slow Growth Continues as Expansion Sets Record
A variety of data released today suggest continued economic expansion. Despite concerns over trade policy, escalating trade wars, and global economic growth that are creating significant uncertainty, the outlook is cautiously optimistic.
-
•
Manufacturing Expansion Slowed for a Third Month in a Row in June
The Manufacturing Purchasing Managers Index posted its third straight decline and lowest reading since October 2016. Mixed economic data continue to suggest a high degree of caution amid slow economic expansion.
-
•
Sentiment Fell in June Despite Gains in Income and Spending in May
Consumer sentiment fell slightly in June but remains at a high level while income and spending continued to grow in May. Tariffs and trade wars remain a significant risk.
-
•
Core Capital-Goods Orders Holding Near Record High
New orders for durable goods decreased in May while core capital-goods orders rose; both appear to be plateauing amid rising uncertainty regarding the economic outlook.