Dismal's Smacks

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🌡️ Inflation

Personal Income and Outlays, September 2023

The Fed’s Favored Core PCE Price Index was up 0.4% in September and is still stuck in the inflationary doldrums. Inflation is not being tamed!

The inflation index most favored by the Fed and the one they base policy actions off of, the core PCE price index (excludes food and energy products), re-accelerated in September from August (0.1% to 0.3%), as consumers continue to spend more and more on goods and services: Inflation

Bureau of Economic Analysis Q3 2023 GDP (Advanced Estimate): +4.9% Growth.

Bureau of Economic Analysis Q3 2023 GDP (Advanced Estimate): +4.9% Growth.

Real gross domestic product (GDP) increased at an annual rate of +4.9% in Q3 of 2023 (following a +2.1% increase in Q2 of 2023), according to the "advance" estimate released by the Bureau of Economic Analysis today. Wut Mean? * Consumer spending (~70% of GDP) jumped +4%

Bank of Canada holds interest rates

Inflation Alert! The Bank of Canada today held its target for the overnight rate at 5%, with the Bank Rate at 5¼% and the deposit rate at 5% and is continuing its policy of quantitative tightening.

The Bank of Canada today held its target for the overnight rate at 5%, with the Bank Rate at 5¼% and the deposit rate at 5%. The Bank is continuing its policy of quantitative tightening. The global economy is slowing and growth is forecast to moderate further as past increases

October 2023 Financial Stability Report

The Fed's October 2023 Financial Stability Report: Three-fourths of survey participants cite persistent inflation and potential residential and commercial real estate losses as top concerns.

Highlights: Asset valuations: Equity prices grew faster than expected earnings, pushing the forward price-to-earnings ratio into the upper ranges of its historical distribution. Risk premiums in corporate bond markets narrowed somewhat and remained near the middle of their historical distributions. Prices of residential and commercial properties remained high relative to

Retail trade, August 2023

Canada Retail Sales down .1% to $66.1 billion in August. Core retail sales—which exclude gasoline stations and fuel vendors and motor vehicle and parts dealers—were down 0.3% in August. A .3% decrease was expected...

Wut Mean?: * Retail sales decreased by 0.1% to $66.1 billion in August. * Six of nine retail subsectors saw decreased sales. * Largest decrease: Motor vehicle and parts dealers (-0.9%). * Core retail sales (excluding gasoline stations, fuel vendors, and motor vehicle and parts dealers) decreased by 0.3%. * Retail

Beige Book - October 18, 2023

Fed's Beige Book October 2023: "Wage growth remained modest to moderate in most Districts." "firms struggled to maintain desired profit margins"

Overall Economic Activity: Most Districts indicated little to no change in economic activity since the September report. Consumer spending was mixed, especially among general retailers and auto dealers, due to differences in prices and product offerings. Tourism activity continued to improve, although some Districts reported slight slowing in consumer travel,

Business Activity: Diffusion Index of Current and Expected Activity

NY Fed October Business Leader Survey: "Activity declined significantly in the region’s service sector." "The headline business activity index dropped sixteen points to -19.1, its lowest level in several months." "while wages grew"...

Highlights General Business Activity Overview: * The service sector in the region experienced a significant decline as per the Federal Reserve Bank of New York’s October 2023 Business Leaders Survey. * The business activity index saw a considerable drop of sixteen points, reaching -19.1, its lowest in several months. * The