Personal consumption spending in December is expected to rise 0.3% on a seasonally adjusted monthly basis in nominal terms, according to The Capital Spectator’s average econometric forecast.That compares with a 0.4% gain in the previous report. The average projection for December is roughly in line with several consensus forecasts based on surveys of economists.
Daily Archives: January 30, 2013
Personal Income: December 2012 Preview
Personal income in December is expected to rise 0.3% on a seasonally adjusted monthly basis in nominal terms, according to The Capital Spectator’s average econometric forecast.That compares with a 0.6% gain in the previous report. The average projection for December is substantially lower than the predictions in three consensus forecasts via surveys of economists.
Q4 GDP Delivers A Big Downside Surprise
The US economy unexpectedly contracted in the fourth quarter of 2012, the government reports. That’s a big surprise for many analysts, including yours truly. The 0.1% decline in GDP in the final three months of last year is the first negative quarterly comparison since the Great Recession ended in mid-2009.
ADP: January Payrolls Climb The Most In 11 Months
Private payrolls increased by 192,000 in January, according to this morning’s ADP Employment Report. That’s a bit stronger than December’s 185,000 gain and it’s the best monthly pop in nearly a year. Today’s release tells us that jobs creation remains at a stable, if not slightly better pace relative to the trend in recent months. In turn, that sets us up for thinking positively about Friday’s January payrolls report from the Labor Department. Meanwhile, it seems that the economy’s capacity for moderate growth appears to be intact in the new year, at least as far as jobs are concerned via ADP’s analysis.