January 2018

Consumer Credit

Total consumer credit increased by $28.0 billion, (B) in November, well above the consensus estimate of $19.5B. The increase was far higher than the $20.5B increase in October and the largest increase since November 2001. This makes three months in row that total credit has surpassed analyst’s projections. Non-revolving credit advanced by $16.8B while revolving [...]

U.S. Infrastructure Spending

Referencing data from the U.S. Census Bureau’s construction put-in-place (CPIP) shows that infrastructure spending, (not seasonally adjusted in constant 2009 dollars) decreased by 3.5% three months year on year, (y/y) to $51.2 billion, (B). On a twelve month y/y comparison, spending was down 1.1% to $172.9. Momentum was negative 2.4%. Table 1 presents three month [...]

Dodge Momentum Index

The Dodge Momentum Index increased 2.9% to 136.7 in December after a sizable downward revision to the November score. On a year on year comparison, the composite index was flat. The commercial sub-indexes posted a significant increases for the month, while the institutional index declined. The Dodge Momentum Index is a monthly measure of the [...]

Employment by Industry

The economy created 148,000 jobs in December, much lower than the year to date monthly average of 171,000. The total number of seasonally adjusted (SA), non-farm people employed in the U.S. in December was 147.380 million (M), an increase of 0.10% month on month, (m/m). Over the past 12 months the U.S. economy has added [...]