21 Global Economic
Indicators to Watch
Dynamically updated with insights from our analyst team, this dashboard provides an unbiased
snapshot into the health of the US economy, helping you stay better informed.
Last Updated: April 4, 2020
Categories
Financial
Consumer Price Index
CPI came in at 2.37% on a year-over-year basis, increasing slightly since last month. A reading within the 2% range is in line with the Fed's inflation target. A reading persistently over 2% could warrant Fed intervention.
U.S. Bureau of Labor Statistics, Consumer Price Index for All Urban Consumers: All Items Less Food and Energy [CPILFESL], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/CPILFESL, April 06, 2020
U.S. Bureau of Labor Statistics, Consumer Price Index for All Urban Consumers: All Items Less Food and Energy [CPILFESL], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/CPILFESL, April 06, 2020
Employment
Payrolls
The US labor market added 273,000 jobs in February, beating expectations. The labor market remains a strong component of the U.S. economy.
U.S. Bureau of Labor Statistics, All Employees: Total Nonfarm Payrolls [PAYEMS], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/PAYEMS, April 06, 2020
U.S. Bureau of Labor Statistics, All Employees: Total Nonfarm Payrolls [PAYEMS], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/PAYEMS, April 06, 2020
Manufacturing
Empire State Manufacturing Index
In February, the Empire State Manufacturing index decreased to -21.5, missing expectations. The manufacturing sector is intense under pressure from slowing global growth.
Empire State Manufacturing Index, Current General Business Conditions [GACDISA], retrieved from Quandl Inc; https://www.quandl.com/data/FRBNY/GACDISA-Empire-State-Manufacturing-Index-Current-General-Business-Conditions-Diffusion-Index-Seasonally-Adjusted, April 06, 2020
Empire State Manufacturing Index, Current General Business Conditions [GACDISA], retrieved from Quandl Inc; https://www.quandl.com/data/FRBNY/GACDISA-Empire-State-Manufacturing-Index-Current-General-Business-Conditions-Diffusion-Index-Seasonally-Adjusted, April 06, 2020
Consumer
University of Michigan: Consumer Sentiment
In February, Consumer Sentiment reached 89.1, missing analyst expectations. Strong corporate earnings and employee wage growth likely providing support, but that support will likely decline substantially in response the Covid-19 virus.
University of Michigan, University of Michigan: Consumer Sentiment [UMCSENT], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/UMCSENT, April 06, 2020
University of Michigan, University of Michigan: Consumer Sentiment [UMCSENT], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/UMCSENT, April 06, 2020
Financial
Real Gross Domestic Product
Real Q3 GDP came in revised at 2.1%, meeting consensus expectations. Driving GDP growth is largely consumer spending and slowing inventory growth.
U.S. Bureau of Economic Analysis, Real Gross Domestic Product [A191RL1Q225SBEA], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/A191RL1Q225SBEA, April 06, 2020
U.S. Bureau of Economic Analysis, Real Gross Domestic Product [A191RL1Q225SBEA], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/A191RL1Q225SBEA, April 06, 2020
Employment
Initial Jobless Claims
The latest reading of initial claims jumped to 6.648M, missing expectations by enormous margins. The employment market has come under extreme pressure in recent weeks as virus containment efforts have led to the shutdown of many businesses.
U.S. Employment and Training Administration, Initial Claims [ICSA], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/ICSA, April 06, 2020
U.S. Employment and Training Administration, Initial Claims [ICSA], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/ICSA, April 06, 2020
Real Estate
New Home Sales
Single-family houses sold rose in February, coming in at 765,000. The housing market will be watched closely, as economic slowdowns in response to the coronavirus may take a toll.
U.S. Bureau of the Census and U.S. Department of Housing and Urban Development, New One Family Houses Sold: United States [HSN1F], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/HSN1F, April 06, 2020
U.S. Bureau of the Census and U.S. Department of Housing and Urban Development, New One Family Houses Sold: United States [HSN1F], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/HSN1F, April 06, 2020
Financial
St. Louis Fed Financial Stress Index
The index declined to -0.070. Recent fears have surrounding the Coronavirus have hurt markets and sent shockwaves throughout the entire economy.
Federal Reserve Bank of St. Louis, St. Louis Fed Financial Stress Index [STLFSI], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/STLFSI, April 06, 2020
Federal Reserve Bank of St. Louis, St. Louis Fed Financial Stress Index [STLFSI], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/STLFSI, April 06, 2020
Consumer
Leading Index for the United States
The index improved to 1.45, gaining from the previous month. Recent optimism surrounding global trade has spurred improvements.
Federal Reserve Bank of Philadelphia, Leading Index for the United States [USSLIND], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/USSLIND, April 06, 2020
Federal Reserve Bank of Philadelphia, Leading Index for the United States [USSLIND], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/USSLIND, April 06, 2020
Real Estate
NAHB Housing Market Index
In January, the NAHB Housing Market Index increased to 76. Housing conditions have likely been buoyed by the recent Fed rate decrease and expected neutral Fed decisions in the near future.
National Association of Home Builders, NAHB / Wells Fargo National Housing Market Index [NAHB], retrieved from Quandl Inc; https://www.quandl.com/data/NAHB/NWFHMI-NAHB-Wells-Fargo-National-Housing-Market-Index, April 06, 2020
National Association of Home Builders, NAHB / Wells Fargo National Housing Market Index [NAHB], retrieved from Quandl Inc; https://www.quandl.com/data/NAHB/NWFHMI-NAHB-Wells-Fargo-National-Housing-Market-Index, April 06, 2020
Employment
Private Payrolls
Private Payrolls plummeted to -27,000, beating analyst expectations. The labor market has been reeling from economic shutdowns across the country.
Automatic Data Processing, Inc., Total Nonfarm Private Payroll Employment [NPPTTL], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/NPPTTL, April 06, 2020
Automatic Data Processing, Inc., Total Nonfarm Private Payroll Employment [NPPTTL], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/NPPTTL, April 06, 2020
Real Estate
House Price Index
The latest HPI reading came in at 5.1%, beating analyst expectations. The housing market continues to be a bright spot in the U.S. economy.
U.S. Federal Housing Finance Agency, All-Transactions House Price Index for the United States [USSTHPI], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/USSTHPI, April 06, 2020
U.S. Federal Housing Finance Agency, All-Transactions House Price Index for the United States [USSTHPI], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/USSTHPI, April 06, 2020
Consumer
Personal Income
In February, income rose by 0.6% to 2.18% year-over-year growth, beating analyst expectations. Real wage and salary growth was an encouraging indicator in the labor market, but recent economic impact from the Covid-19 coronavirus will likely damage future wage growth.
U.S. Bureau of Economic Analysis, Real Disposable Personal Income [DSPIC96], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/DSPIC96, April 06, 2020
U.S. Bureau of Economic Analysis, Real Disposable Personal Income [DSPIC96], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/DSPIC96, April 06, 2020
Consumer
Personal Spending
In February, consumer spending growth came in at 0.2% bringing the total to 4.87% year-over-year, meeting expectations. Spending continues to grow at a modest pace.
U.S. Bureau of Economic Analysis, Personal Consumption Expenditures [PCE], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/PCE, April 06, 2020
U.S. Bureau of Economic Analysis, Personal Consumption Expenditures [PCE], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/PCE, April 06, 2020
Business
Retail Sales
Retail sales declined by -0.5% in February putting the index at 4.96% on a year-over-year basis. Core retail metrics faired little better as sales declined -0.4% in February, revealing negative impact of the coronavirus on the U.S. economy.
U.S. Bureau of the Census, Retail Sales: Retail and Food Services, Total [MRTSSM44X72USS], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/MRTSSM44X72USS, April 06, 2020
U.S. Bureau of the Census, Retail Sales: Retail and Food Services, Total [MRTSSM44X72USS], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/MRTSSM44X72USS, April 06, 2020
Employment
Continuing Jobless Claims
Continued claims increased to 3.029M last week. Continued claims is likely to lag any shocks to the employment market as a whole.
U.S. Employment and Training Administration, Continued Claims (Insured Unemployment) [CCSA], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/CCSA, April 06, 2020
U.S. Employment and Training Administration, Continued Claims (Insured Unemployment) [CCSA], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/CCSA, April 06, 2020
Business
Business Inventories
In January, business inventory growth came in at -0.1% meeting analyst expectations. Over the last five years, inventories have been cyclical but trending upwards.
U.S. Bureau of the Census, Total Business Inventories [TOTBUSMPCIMSA], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/TOTBUSMPCIMSA, April 06, 2020
U.S. Bureau of the Census, Total Business Inventories [TOTBUSMPCIMSA], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/TOTBUSMPCIMSA, April 06, 2020
Financial
Philly Fed Survey
In February, the Philadelphia Fed Survey decreased from 36.7 to -12.7, missing analyst expectations. Underlying components have turned negative in response to the virus outbreak.
Federal Reserve Bank of Philadelphia, Philly Fed Survey [FRBP], retrieved from Quandl Inc; https://www.quandl.com/data/FRBP/GAC-Philly-Fed-Seasonally-Adjusted-Diffusion-Indexes-Current-Activity-Index, April 06, 2020
Federal Reserve Bank of Philadelphia, Philly Fed Survey [FRBP], retrieved from Quandl Inc; https://www.quandl.com/data/FRBP/GAC-Philly-Fed-Seasonally-Adjusted-Diffusion-Indexes-Current-Activity-Index, April 06, 2020
Manufacturing
Manufacturers New Orders: Durable Goods
In February, orders improved, beating analyst expectations. Overall, manufacturing remains subdued. Manufacturing has been an area of concern for economists.
U.S. Bureau of the Census, Manufacturers New Orders: Durable Goods [DGORDER], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/DGORDER, April 06, 2020
U.S. Bureau of the Census, Manufacturers New Orders: Durable Goods [DGORDER], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/DGORDER, April 06, 2020
Manufacturing
Manufacturers’ New Orders: Nondefense Capital Goods Excluding Aircrafts
Orders for the last year, have been coming in a $5B range under the $70B ceiling level. This trend continued in February, coming in at $68.8B.
U.S. Bureau of the Census, Manufacturers New Orders: Nondefense Capital Goods Excluding Aircraft [NEWORDER], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/NEWORDER, April 06, 2020
U.S. Bureau of the Census, Manufacturers New Orders: Nondefense Capital Goods Excluding Aircraft [NEWORDER], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/NEWORDER, April 06, 2020
Real Estate
Existing Home Sales
In February, existing home sales climbed to 5.77 million, beating expectations. Housing market data has yet to show much response to the spread of the coronavirus.
National Association of Realtors, Existing Home Sales [EXHOSLUSM495S], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/EXHOSLUSM495S, April 06, 2020
National Association of Realtors, Existing Home Sales [EXHOSLUSM495S], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/EXHOSLUSM495S, April 06, 2020