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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Private Payrolls Jumped in December and Wage Growth Accelerated
U.S. nonfarm payrolls added 312,000 jobs last month, the largest since February 2018. However, market volatility and uncertainty surrounding trade, fiscal, and monetary policy suggest a cautious view is warranted.
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ISM Manufacturing Purchasing Managers Index Points to Slower Growth in December
A drop in the ISM manufacturing new orders index suggests slower growth but payroll processor ADP estimates a surge in private hiring in December.
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November Jobs Report Disappoints
U.S. nonfarm payrolls added 155,000 jobs in November. Despite the weak performance, the labor market remains tight.
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ISM Nonmanufacturing Index Rises in November; Initial Claims trending higher
The ISM’s nonmanufacturing index rose to 60.7 in November. The increase follows the manufacturing report that also posted a gain in November. The two reports suggest slightly faster expansion for the economy last month.
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ISM Manufacturing PMI Rose in November With Most Components Suggesting Faster Expansion
The ISM PMI rose in November with broad-based gains among the components. The results suggest continued expansion for the manufacturing sector.
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Income and Spending Gains Suggest Fourth-Quarter Growth off to a Strong Start
Real disposable income and personal consumption expenditures rose in October suggesting fourth-quarter real GDP growth is off to a strong start.
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New Home Sales Tumble in October; Corporate Profits Hit a New Record
Sales of new single-family homes fell in October and the inventory of homes for sale rose, driving months’ supply to a seven-year high. With prices and interest rates rising, the outlook for housing is unfavorable.
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Housing Outlook Remains Cautious
A drop in new housing permits and a plunge in homebuilder sentiment suggest the outlook for housing remains cautious.
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Manufacturing Output Rose 0.3 Percent in October
The manufacturing resurgence continued as output rose 0.3 percent in October, the fifth monthly gain in a row, resulting in an annualized growth rate of 5.0 percent over the period.
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•
Private Payrolls Jumped in December and Wage Growth Accelerated
U.S. nonfarm payrolls added 312,000 jobs last month, the largest since February 2018. However, market volatility and uncertainty surrounding trade, fiscal, and monetary policy suggest a cautious view is warranted.
-
•
ISM Manufacturing Purchasing Managers Index Points to Slower Growth in December
A drop in the ISM manufacturing new orders index suggests slower growth but payroll processor ADP estimates a surge in private hiring in December.
-
•
November Jobs Report Disappoints
U.S. nonfarm payrolls added 155,000 jobs in November. Despite the weak performance, the labor market remains tight.
-
•
ISM Nonmanufacturing Index Rises in November; Initial Claims trending higher
The ISM’s nonmanufacturing index rose to 60.7 in November. The increase follows the manufacturing report that also posted a gain in November. The two reports suggest slightly faster expansion for the economy last month.
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•
ISM Manufacturing PMI Rose in November With Most Components Suggesting Faster Expansion
The ISM PMI rose in November with broad-based gains among the components. The results suggest continued expansion for the manufacturing sector.
-
•
Income and Spending Gains Suggest Fourth-Quarter Growth off to a Strong Start
Real disposable income and personal consumption expenditures rose in October suggesting fourth-quarter real GDP growth is off to a strong start.
-
•
New Home Sales Tumble in October; Corporate Profits Hit a New Record
Sales of new single-family homes fell in October and the inventory of homes for sale rose, driving months’ supply to a seven-year high. With prices and interest rates rising, the outlook for housing is unfavorable.
-
•
Housing Outlook Remains Cautious
A drop in new housing permits and a plunge in homebuilder sentiment suggest the outlook for housing remains cautious.
-
•
Manufacturing Output Rose 0.3 Percent in October
The manufacturing resurgence continued as output rose 0.3 percent in October, the fifth monthly gain in a row, resulting in an annualized growth rate of 5.0 percent over the period.