Business Conditions

“Retail sales surged in January, a very positive sign for the economy, but positive momentum needs to be sustained and expanded across the economy, especially to the labor market.” – Robert Hughes

“Consumer sentiment fell in early February, driven by a weaker economic outlook, especially among lower-income consumers. Apprehensive consumers may slow the economic recovery.” – Robert Hughes

“Initial claims fell slightly but continuing claims jumped sharply. Along with the disappointing jobs report, recent data suggest the labor market remains weak.” – Robert Hughes

“Job openings rose in December, but overall labor market data remain mixed, suggesting the outlook is cautiously optimistic but still highly uncertain.” – Robert Hughes

“Small-business confidence posted a third consecutive decline in January, suggesting a growing concern about the economic outlook.” – Robert Hughes

“Payrolls posted a weak gain in January, raising significant doubts about the strength of the economic recovery.” – Robert Hughes

“Initial claims for unemployment benefits fell for a third straight week but government restrictions on consumers and businesses continue to threaten the recovery.” – Robert Hughes

“Light-vehicle sales rose again in January but remain at the lower end of the historical range.” – Robert Hughes

“Consumer sentiment fell in January, leaving indexes below pre-pandemic levels but above prior lows. Virus mutations and partisan rancor remain risks to the outlook.” – Robert Hughes

“The single-family housing market remains a bright spot for the economy, supported by low interest rates and strong demand.” – Robert Hughes