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News / Economic News

U.S. Economic Snapshot

U.S. Economic Snapshot – December 2016

Source: The Conference Board

“Consumer Confidence improved further in December, due solely to increasing Expectations which hit a 13-year high (Dec. 2003, 107.4),” said Lynn Franco, Director of Economic Indicators at The Conference Board. “The post-election surge in optimism for the economy, jobs and income prospects, as well as for stock prices which reached a 13-year high, was most pronounced among older consumers. Consumers’ assessment of current conditions, which declined, still suggests that economic growth continued through the final months of 2016. Looking ahead to 2017, consumers’ continued optimism will depend on whether or not their expectations are realized.”

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THE EMPLOYMENT SITUATION – DECEMBER 2016

The Employment Situation – December 2016

Total nonfarm payroll employment rose by 156,000 in December, and the unemployment rate was little changed at 4.7 percent, the U.S. Bureau of Labor Statistics reported today. Job growth occurred in health care and social assistance.

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Manufacturing Logistics

December 2016 Manufacturing ISM Report On Business

Source: Institute for Supply Management 

Economic activity in the manufacturing sector expanded in December, and the overall economy grew for the 91st consecutive month, say the nation’s supply executives in the latest Manufacturing ISM® Report On Business®.

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MANUFACTURING AND TRADE INVENTORIES AND SALES – OCTOBER 2016

Manufacturing and Trade Inventories and Sales – October 2016

Source: U.S. Census Bureau

Sales. The U.S. Census Bureau announced today that the combined value of distributive trade sales and manufacturers’ shipments for October, adjusted for seasonal and trading-day differences but not for price changes, was estimated at $1,326.8 billion, up 0.8 percent (±0.2%) from September 2016 and was up 2.1 percent (±0.4%) from October 2015.

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Cass Freight Index

Cass Freight Index Report – November 2016

Source: Cass Information Systems, Inc. 

After a promising Shipments Index in October broke the string of 20 months in negative territory, November fell back into negative territory, albeit slightly. We have seen a wide range of results in the different modes: from continued volume growth in parcel and airfreight driven by e-commerce, to a sequential improvement in truck tonnage, to less bad rail and barge volume overall. Although it is far too early to make a ‘change in trend’ call, data is beginning to suggest that the consumer is finally starting to spend a little, and that with the recent surge in the price of crude the industrial economy’s rate of deceleration has eased. If the winter of the current year-and-a-half freight recession in the U.S. is not over, it is certainly showing increasing signs of thawing.

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U.S. Economic Snapshot

“The U.S. LEI increased in October for a second consecutive month. Although its six-month growth rate has moderated, the index still suggests that the economy will continue expanding into early 2017,” said Ataman Ozyildirim, Director of Business Cycles and Growth Research at The Conference Board. “The interest rate spread and average weekly hours were the main drivers of October’s improvement, helping to offset some of the weaknesses in claims for unemployment insurance and new orders.”  The Conference Board   

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The Employment Situation Summary – November 2016

Source: Bureau of Labor Statistics

The unemployment rate declined to 4.6 percent in November, and total nonfarm payroll employment increased by 178,000, the U.S. Bureau of Labor Statistics reported today. Employment gains occurred in professional and business services and in health care.

In November, the unemployment rate decreased by 0.3 percentage point to 4.6 percent, and the number of unemployed persons declined by 387,000 to 7.4 million. Both measures had shown little movement, on net, from August 2015 through October 2016.

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November 2016 Manufacturing ISM Report on Business

Institute for Supply Management

Economic activity in the manufacturing sector expanded in November, and the overall economy grew for the 90th consecutive month, say the nation’s supply executives in the latest Manufacturing ISM® Report On Business®.

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Cass Freight Index Report – October 2016

Source: Cass Information Systems, Inc. 

Consistent with what many in the industry have been calling a “more than normal fall surge” in volumes, the Cass Shipments Index was up on a YOY basis for the first time in 20 months. We have seen a wide range of results in the different modes: from continued volume growth in parcel and airfreight driven by e‐commerce, to a sequential improvement in truck tonnage, to less bad rail and barge volume overall. Although it is far too early to make a ‘change in trend’ call, data is beginning to suggest that the consumer is finally starting to spend a little and that the industrial economy’s rate of deceleration has eased. Simply put, the winter of the overall freight recession we have seen for over a year and a half in the U.S. may not be over, but it is showing signs of thawing.

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Manufacturing and Trade Inventories and Sales

U.S. Census Bureau

Sales. The U.S. Census Bureau announced today that the combined value of distributive trade sales and manufacturers’ shipments for September, adjusted for seasonal and trading-day differences but not for price changes, was estimated at $1,314.6 billion, up 0.7 percent (±0.2%) from August 2016 and was up 0.8 percent (±0.4%) from September 2015.

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