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US Non-Farm Payroll Data – January 2013

February 4, 2013 12:11 pm GMT+0  in U.S.

  Total non-farm employment in the U.S.A during the month of January was better by 157,000 jobs, as reported by the Bureau of Labor Statistics. Significantly, most of that growth was contributed by private employers (+166,000) whereas government employment (-9,000) fell. (See the above charts for the trend). The Bureau also revised the NFP changeRead the Rest…

US GDP – 4th Quarter 2012

January 30, 2013 8:47 pm GMT+0  in U.S.

Markets were taken aback by a shock contraction in the U.S. GDP during the fourth quarter of 2012. Gross Domestic Product (GDP) fell by 0.1% year-on-year against the consensus expectation of a growth of 1.1%. Economists were concerned that the result represented the weakest rate of growth in the GDP since 2009, even though itRead the Rest…

Meeting of the US Fed – 30 Jan 2013

January 30, 2013 8:27 pm GMT+0  in U.S.

As expected, the first FOMC meeting in 2013 kept up its commitment to the current program of quantitative easing and left interest rates unchanged at 0.25%. The Committee’s review of economic data released since the previous meeting concluded that economic activity lost some momentum and the unemployment rate remained elevated even though there was improvementRead the Rest…

US Non-Farm Payrolls Show Marginal Improvement

January 5, 2013 2:53 am GMT+0  in U.S.

Job growth in the US signalled tepid growth with the December Non Farm Payrolls showing an addition of 155,000 non-farm jobs – just a whisker above the consensus estimate of 150,000, and slightly better than the figure of 146,000 reported in November. The unemployment rate came in flat at 7.8%, the same as that inRead the Rest…

FOMC Minutes Spark the Risk-Off

January 4, 2013 3:15 am GMT+0  in U.S.

The minutes of the December FOMC meeting, released yesterday, spooked the markets and touched off a rally in the US Dollar. Aiding and abetting the move was a better-than-expected employment release from ADP that showed the US private sector added 215,000 jobs, comfortably beating the forecast of 150,000 jobs. The FOMC minutes revealed that atRead the Rest…

The Fiscal Cliff – A Stopgap Arrangement

January 3, 2013 6:16 am GMT+0  in U.S.

Politicians in America effectively kicked the can down the road as they dithered, again, on arriving at a lasting solution to the country’s problems of an unsustainable budgetary deficit and debt. The stop gap arrangement, which gives them another two months to bicker and posture, will see a rewind of the traumatic situation just witnessed,Read the Rest…

Countdown to the Fiscal Cliff – Dec 25, 2012

December 25, 2012 10:25 am GMT+0  in U.S.

There are increasing signs that perhaps the U.S. will indeed go over the fiscal cliff. As of now, there is no sign of a concrete proposal on the table that can be debated and negotiated. Congress is in recess while both President Obama and Speaker Boehner have proceeded out of town on vacation. Any actionRead the Rest…

Countdown to the Fiscal Cliff – Dec 21, 2012

December 21, 2012 8:13 am GMT+0  in U.S.

Hard won concessions wrested from each other by Obama and Boehner faced a serious setback Thursday when Republicans cancelled a vote on Boehner’s Plan B legislation. Boehner’s plan proposed to raise taxes on the rich, those earning over $1 million per annum. Though the bill was largely symbolic, as it would have passed in theRead the Rest…

The US Current Account – Third Quarter 2012

December 19, 2012 2:48 am GMT+0  in U.S.

The Bureau of Economic Analysis of the US Department of Commerce released data relating to the country’s current account for the third quarter of 2012, as a part of its report on International Transactions for the same period. The US current account deficit is defined as “the combined balances on trade in goods and services,Read the Rest…

Countdown to the Fiscal Cliff – Dec 18, 2012

December 18, 2012 12:57 am GMT+0  in U.S.

According to a BBC report, House of Representatives Speaker John Boehner and US President Barack Obama met for about 45 minutes at the White House yesterday. As efforts to resolve the crisis gather momentum, the meeting is an encouraging sign that the logjam may yet be broken. The meeting followed a previous one on ThursdayRead the Rest…

Countdown to the Fiscal Cliff – Dec 17, 2012

December 17, 2012 12:02 pm GMT+0  in U.S.

According to latest news, Boehner and Obama are inching closer to a deal, with Boehner making some progressive proposals,  including one for raising the marginal tax rate on households earning over $1 million to 39.6%. This would be enforced for 10 years and raise $440 billion. The proposal also envisages tax reform to plug loopholesRead the Rest…

US Inflation and Manufacturing Data

December 17, 2012 11:06 am GMT+0  in U.S.

Weak inflation data in the US during the month of November created expectations of continued monetary easing and appeared to put the Fed’s decision to implement further asset purchases with effect from January in a favourable light. According to the Department of Labor, the US Consumer Price Index (CPI), commonly used as an indicator ofRead the Rest…