Economy News

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Established 1999

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Robert Hughes

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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  • •

    Home Prices Heading Higher

      Sales of existing homes rose 3.3 percent to a seasonally adjusted annual rate of 5.69 million sales in January. There were gains in three of the four regions in the country: Sales in the Northeast rose 5.3 percent, the South increased 3.6 percent, and the West jumped 6.6 percent. The inventory of existing homes…

  • •

    Economy Gaining Speed, Rate Hikes Coming

    The U.S. consumer continues to drive the economy. The latest data from the U.S. Commerce Department show retail sales rose 0.4 in January percent following a 1 percent jump in December. Combined with other recent data on the economy such as job creation, initial claims for unemployment insurance, Institute for Supply Management survey results, and…

  • •

    ISM Survey Data Suggest Better Economic Conditions

    The Institute for Supply Management surveys its members monthly regarding business activity at their respective companies. These surveys are very timely readings on levels of current activity across a broad range of industries.  The surveys are compiled into two separate indexes, one for manufacturers and one for nonmanufacturing companies, such as construction, finance, health care,…

  • •

    Jobs Day Surprise…And Disappointment

    The Bureau of Labor Statistics released a January employment report this morning that has both surprises and disappointments. On the positive side, job creation was stronger than expected, showing a net gain of 227,000 jobs. Even better, the private sector added 237,000 jobs, while the government sector posted a 10,000 decrease for the month. This…

  • •

    Good News for the Manufacturing Sector

      During an 18-month campaign, primary, and election process, newly-elected President Donald Trump focused heavily on the manufacturing sector in the U.S. Today, the Institute for Supply Management (ISM) and ADP, the payroll and human resources service, provide current data on activity in that area. The ISM released its monthly Report on Business for January,…

  • Labor Market Indicators Remain Upbeat

    •

    Labor Market Indicators Remain Upbeat

    Newly updated indicators for the labor market suggest a positive outlook for the economy. The Job Openings and Labor Turnover Survey for November shows the number of open positions in the private sector rose by 21,000 to 4.97 million. Adding in a 48,000 increase in the number of open government jobs, and the total number…

  • Rising Rates Could Slow Housing

    •

    Rising Rates Could Slow Housing

    Data released last Friday show new housing starts fell 18.7 percent in November from October as single-family home starts fell 4.1 percent and multifamily home starts fell almost 44 percent.

  • Keep the Fed’s Decision in Perspective

    •

    Keep the Fed’s Decision in Perspective

    The Fed’s decision yesterday to raise the federal funds target rate by ¼ point, from a range of 0.25 – 0.50 to 0.50 – 0.75 sent shockwaves through markets. But it should be interpreted with a healthy dose of calm and perspective.

  • More Positive News For The Economy

    •

    More Positive News For The Economy

    The Federal Reserve yesterday afternoon released data on household balance sheets and income for the third quarter of 2016, and the results look favorable.  Household net worth rose to a record $90.2 trillion on gains in assets, amid modest increases in liabilities.

  • Mixed Details Behind Big Unemployment Rate Drop

    •

    Mixed Details Behind Big Unemployment Rate Drop

    A mixed November jobs report suggests the economic expansion continues to grind ahead and the labor market continues to tighten, but wage growth faltered.

  • •

    Home Prices Heading Higher

      Sales of existing homes rose 3.3 percent to a seasonally adjusted annual rate of 5.69 million sales in January. There were gains in three of the four regions in the country: Sales in the Northeast rose 5.3 percent, the South increased 3.6 percent, and the West jumped 6.6 percent. The inventory of existing homes…

  • •

    Economy Gaining Speed, Rate Hikes Coming

    The U.S. consumer continues to drive the economy. The latest data from the U.S. Commerce Department show retail sales rose 0.4 in January percent following a 1 percent jump in December. Combined with other recent data on the economy such as job creation, initial claims for unemployment insurance, Institute for Supply Management survey results, and…

  • •

    ISM Survey Data Suggest Better Economic Conditions

    The Institute for Supply Management surveys its members monthly regarding business activity at their respective companies. These surveys are very timely readings on levels of current activity across a broad range of industries.  The surveys are compiled into two separate indexes, one for manufacturers and one for nonmanufacturing companies, such as construction, finance, health care,…

  • •

    Jobs Day Surprise…And Disappointment

    The Bureau of Labor Statistics released a January employment report this morning that has both surprises and disappointments. On the positive side, job creation was stronger than expected, showing a net gain of 227,000 jobs. Even better, the private sector added 237,000 jobs, while the government sector posted a 10,000 decrease for the month. This…

  • •

    Good News for the Manufacturing Sector

      During an 18-month campaign, primary, and election process, newly-elected President Donald Trump focused heavily on the manufacturing sector in the U.S. Today, the Institute for Supply Management (ISM) and ADP, the payroll and human resources service, provide current data on activity in that area. The ISM released its monthly Report on Business for January,…

  • Labor Market Indicators Remain Upbeat

    •

    Labor Market Indicators Remain Upbeat

    Newly updated indicators for the labor market suggest a positive outlook for the economy. The Job Openings and Labor Turnover Survey for November shows the number of open positions in the private sector rose by 21,000 to 4.97 million. Adding in a 48,000 increase in the number of open government jobs, and the total number…

  • Rising Rates Could Slow Housing

    •

    Rising Rates Could Slow Housing

    Data released last Friday show new housing starts fell 18.7 percent in November from October as single-family home starts fell 4.1 percent and multifamily home starts fell almost 44 percent.

  • Keep the Fed’s Decision in Perspective

    •

    Keep the Fed’s Decision in Perspective

    The Fed’s decision yesterday to raise the federal funds target rate by ¼ point, from a range of 0.25 – 0.50 to 0.50 – 0.75 sent shockwaves through markets. But it should be interpreted with a healthy dose of calm and perspective.

  • More Positive News For The Economy

    •

    More Positive News For The Economy

    The Federal Reserve yesterday afternoon released data on household balance sheets and income for the third quarter of 2016, and the results look favorable.  Household net worth rose to a record $90.2 trillion on gains in assets, amid modest increases in liabilities.

  • Mixed Details Behind Big Unemployment Rate Drop

    •

    Mixed Details Behind Big Unemployment Rate Drop

    A mixed November jobs report suggests the economic expansion continues to grind ahead and the labor market continues to tighten, but wage growth faltered.