Business Conditions

“The latest manufacturing survey shows signs of weakness and significantly less-intense price pressures. Persistently elevated price increases and an aggressive Fed tightening cycle remain risks to the outlook.” ~ Robert Hughes

“Consumer sentiment was essentially unchanged in September and remains at recessionary levels. Inflation expectations fell to a 12-month low, but consumer uncertainty about the outlook remains elevated.” ~ Robert Hughes

“Declining weekly initial claims suggest the labor market remains solid. However, persistently elevated rates of price increases and aggressive Fed tightening remain major risks for the economic outlook.” ~ Robert Hughes

“New-home sales bounced higher in August, but inventories rose again. Elevated prices and surging mortgage rates reduce affordability and are likely to weaken future demand.” ~ Robert Hughes

“Consumer confidence improved in September, and inflation expectations eased slightly. An aggressive Fed tightening cycle, elevated price pressures, and the fallout from Russian aggression in Ukraine remain risks for the economic outlook.” ~ Robert Hughes

“Real manufacturers’ new orders trend growth remains weak. Rising prices, Fed policy tightening, and global turmoil sustain elevated risks.” ~ Robert Hughes

“Consumer sentiment edged higher in early September but remains at recessionary levels. Inflation expectations fell to a 12-month low, but consumer uncertainty about the economy rose.” ~ Robert Hughes

“Manufacturing output rose slightly in August. However, elevated price pressures, weak consumer sentiment, and an aggressive Fed tightening cycle remain risks. Caution is warranted.” ~ Robert Hughes

“Real core retail sales fell in August, and the recent trend growth is weak. Threats to the economy remain significant, and risks remain elevated. Caution is warranted.” ~ Robert Hughes

“Weekly initial claims fell for a fifth consecutive week suggesting the labor market remains solid. Rapid price increases, low consumer confidence, and aggressive Fed tightening remain major risks for the economic outlook.” ~ Robert Hughes