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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Manufacturing Orders and Production Expand at a Faster Pace in November
The Manufacturing Purchasing Manager’s Index fell to 58.2 in November. However, the new orders index and the production index posted gains suggesting a positive outlook for manufacturing.
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Third-Quarter Real GDP Is Revised Higher; Profits Hit a Record
Revised estimates show real GDP grew at a 3.3 percent pace in the third quarter and most elements of the report suggest the economy remains in very good condition, with moderate real growth, continued gains in profits, and tepid price increases.
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More Good News on the Economy
The latest data show favorable results for consumer sentiment, the labor market and manufacturers’ orders. They data add to the mosaic of economic data suggesting a positive outlook for the economy in the coming months.
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The Chicago Fed National Activity Index Rose Again in October
The Chicago Fed’s National Activity Index rose a gain in October, increasing to 0.65, the highest level since January 2012. The stronger performance of the index in October suggests real gross-domestic-product growth likely got off to a solid start in the fourth quarter.
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Manufacturing Outlook Remains Positive
Manufacturing surveys from the New York Fed and the Philadelphia Fed both showed mixed results overall in November, with many components posting small declines. However, both surveys showed improvement in the current-new-orders index and expectations for new orders six months ahead.
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Small-Business Optimism Rose in October
Small-business optimism remains at a high level, suggesting continued support for economic expansion. Among the biggest issues for small businesses are taxes and poor quality of labor.
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•
The Latest Labor-Market Indicators Suggest Continuing Strength
The Conference Board Employment Trends Index surged to a record 135.6 in October while total job openings in the U.S. ticked down slightly to 6.093 million.
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October Employment Report Suggests the Economy Is in a Marathon Not a Sprint
U.S. nonfarm payrolls added 261,000 jobs in October, a strong rebound from the hurricane-restrained increase of just 18,000 new jobs in September.
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Early Signs Suggest the Economy Maintained Momentum in October
Consumer confidence and Chicago-area business optimism posted gains in October suggesting the economy is maintaining positive momentum in the early part of the fourth quarter.
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•
Real GDP Gain Masks Slowdown in Private Domestic Demand
The advance estimate for third quarter real gross domestic product (GDP) shows 3.0 growth, but that headline number masks a notable slowdown in private domestic demand.
-
•
Manufacturing Orders and Production Expand at a Faster Pace in November
The Manufacturing Purchasing Manager’s Index fell to 58.2 in November. However, the new orders index and the production index posted gains suggesting a positive outlook for manufacturing.
-
•
Third-Quarter Real GDP Is Revised Higher; Profits Hit a Record
Revised estimates show real GDP grew at a 3.3 percent pace in the third quarter and most elements of the report suggest the economy remains in very good condition, with moderate real growth, continued gains in profits, and tepid price increases.
-
•
More Good News on the Economy
The latest data show favorable results for consumer sentiment, the labor market and manufacturers’ orders. They data add to the mosaic of economic data suggesting a positive outlook for the economy in the coming months.
-
•
The Chicago Fed National Activity Index Rose Again in October
The Chicago Fed’s National Activity Index rose a gain in October, increasing to 0.65, the highest level since January 2012. The stronger performance of the index in October suggests real gross-domestic-product growth likely got off to a solid start in the fourth quarter.
-
•
Manufacturing Outlook Remains Positive
Manufacturing surveys from the New York Fed and the Philadelphia Fed both showed mixed results overall in November, with many components posting small declines. However, both surveys showed improvement in the current-new-orders index and expectations for new orders six months ahead.
-
•
Small-Business Optimism Rose in October
Small-business optimism remains at a high level, suggesting continued support for economic expansion. Among the biggest issues for small businesses are taxes and poor quality of labor.
-
•
The Latest Labor-Market Indicators Suggest Continuing Strength
The Conference Board Employment Trends Index surged to a record 135.6 in October while total job openings in the U.S. ticked down slightly to 6.093 million.
-
•
October Employment Report Suggests the Economy Is in a Marathon Not a Sprint
U.S. nonfarm payrolls added 261,000 jobs in October, a strong rebound from the hurricane-restrained increase of just 18,000 new jobs in September.
-
•
Early Signs Suggest the Economy Maintained Momentum in October
Consumer confidence and Chicago-area business optimism posted gains in October suggesting the economy is maintaining positive momentum in the early part of the fourth quarter.
-
•
Real GDP Gain Masks Slowdown in Private Domestic Demand
The advance estimate for third quarter real gross domestic product (GDP) shows 3.0 growth, but that headline number masks a notable slowdown in private domestic demand.