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Job Openings and Labor Turnover (JOLTS)
The monthly JOLTS report, published by the Bureau of Labor Statistics, provides data on labor demand and turnover. The release is already two months old when it comes out, but this still important indicator gives us a pulse on the job market, even if it’s confirming rather than leading. In this morning’s report for December,…
ISM Manufacturing
The Institute for Supply Management (ISM) released their January report this morning. The index came in at 47.4%, down 1 from its December reading and worse than consensus. This is its third consecutive month of contraction and its lowest since May 2020. Here’s the latest from the press release: “The U.S. manufacturing sector again contracted,…
Personal Consumption Expenditure (PCE)
The Bureau of Economic Analysis releases PCE monthly. PCE is the most comprehensive measure of consumer spending and the largest component of GDP (about two-thirds!). It’s made up of goods and services – and it’s also the Fed’s preferred measure of inflation. The latest figure for November Headline PCE came in at 5.5% YoY which…
Pending Home Sales Index
The National Association of Realtors (NAR)’s Pending Home Sales Index is a leading indicator for the housing sector based on pending sales of existing homes. A sale is pending if a contract has been signed, but the sale has not closed. Typically, these sales close within two months of a contract signing.
Conference Board Leading Economic Index (LEI)
The latest data for December came in at 110.5, a decrease of 1%. This represents its 10th consecutive decline and was worse than consensus forecast.