Outlook for the Hawai'i Economy
|
|
- Theodore Jessie Hubbard
- 5 years ago
- Views:
Transcription
1 Outlook for the Hawai'i Economy May 3, 2001 Dr. Carl Bonham University of Hawai'i Economic Research Organization
2 Summary The Hawaii economy entered 2001 in its best shape in more than a decade. While the external environment has deteriorated in recent months, continued strength in local economic activity will support growth for Hawaii's economy in Both west and eastbound visitor growth will slow from last years pace, yet total arrivals will set a new record year in 2001 growing by almost 2% over 2000 levels. Construction will continue to lead the economic expansion increasing by nearly 10% in real terms. Payroll jobs and real personal income growth will slow slightly from their pace in 2000, turning in 2.6% and 2.5% growth in Year in Review Hawaii's economy accelerated in 2000, posting the best annual performance since Eastbound visitor arrivals grew by 1.5%, slightly more than our year ago prediction of 1% growth. Although overall visitor days for Japanese visitors declined by 0.6%, 2000 marked the first annual increase (1.7%) in Japanese arrivals since Meanwhile, the westbound segment grew less than we anticipated, expanding by 4.5%. Total visitor arrivals grew by 3.5% for the year, with the average daily census up 3.1% due to a decline in the average length of stay (primarily Japanese LOS down 0.9%). Visitor expenditures estimates showed strength in 2000, as a result of the yen holding steady and near 107 and brisk US consumer spending. Construction put in place grew faster in 2000 than any time since After falling by 1.8% in real terms in 1999, the contracting tax base grew at almost 19% in As a result, the construction sector contributed significantly to personal income growth in 2000: Nominal contracting income grew by over 11% and construction jobs were up 8.5%. Construction sector indicators continue to point towards growth. Oahu home re-sales continue to rise strongly, aided by relatively low mortgage rates and rising consumer confidence associated with
3 job and income growth. The median time on the market for single-family homes remains near 40 days, the fastest absorption rates since early The same is true in the condo market, where sales increased by 19.0% in 2000 and prices stabilized. The issuing of private building permits was up almost 13% in real terms in 2000 following a 24% increase in Job creation in 2000 was also stronger than any time since State wide jobs grew by 3.1% and show few signs of slowing. In the first quarter of 2001 nonagricultural jobs continue to grow at a 3% pace compared to the same period a year earlier. While contracting job growth has slowed to just under 6%, retail trade, health services, and transportation job growth has taken up the slack. Other labor market indicators have also improved. During the fourth quarter of 2000, the state wide unemployment rate fell below 4% for the first time since The average unemployment rate for the state in the first quarter of 2001 was 4.1%. Interestingly, civilian employment, which includes self-employed persons, rose by only 1.8% over 1999 levels, suggesting that workers are increasingly holding multiple jobs. Continued improvement in labor market conditions should help to support both income growth and local consumer confidence in coming months. The rising cost of energy, tightening of labor markets, and the rapid pace of retail sales all contributed to an increase in Honolulu consumer prices by 1.8% above 1999 levels. 1 This inflation occurred despite that fact that recent increases in home rental rates have not yet shown up in the data. Once home price and rent increases show up, during the next few years, we can expect further increases in measured inflation rates. For the overall state economy, 2000 saw real income grow by slightly more than our 2.6% year ago forecast: Real income grew at a 2.9% rate, while real GSP is estimated to have grown by 3%. While this represents the most rapid expansion in more than a decade, we expect the final numbers are likely to be even higher as the BEA conducts additional revisions based on more complete data. Unless the BEA revises real income growth upwards, the 3.1% job growth reported by the Bureau of Labor Statistics, would lead one to believe that real wages fell for the average worker. Hawaii Outlook If you focus only on internal indicators of the Hawaii economy, the outlook is very good. In March of 2001, there were 30,550 more jobs and 20,500 more people employed in the state than in March of While the US economy is slowing from its torid growth in 1999 and 2000, we do not expect either the US or Hawaii economy to slip into a recession. In fact, Hawaii may very well outpace the US during 2001 in both job and income growth. As the US economy resumes a
4 more sustainable growth rate in late 2001 and 2002, we expect the Hawaii economy to expand at more than 2.5% for the next few years. The overall U.S. economy is expected to slow in 2001 to a near 2.3% rate of growth for real GDP. That slowdown, continued concerns about job losses, and wealth destruction will lead to a slowing of westbound arrivals to 2.3%, slightly more than half its 2000 growth rate. We expect some decline in westbound length of stay as well. The situation in Japan is more bleak. With the yen expected to average near 120 for the year, and real GDP only expected to grow at near 0.5%, eastbound arrivals growth will slow to under 1% for Overall, we expect total visitor growth of 1.8% for 2001 followed by 2.7% in 2002 as both Japan and the US economies gain some momentum. While visitor arrivals are expected to post a near 2% growth rate, average daily census will grow by 1.7%, and retail sales and hotel revenues will slow substantially with the high value of the yen. Fortunately, the internal improvements in income and job growth will help to support overall growth. We expect payroll job growth of 2.6% percent in 2001 and In contrast to past years, we expect overall employment growth to be somewhat less than job growth as workers find they are able to hold multiple jobs due to the tightening of the labor market. (The unemployment rate on Oahu has been below 4% since July of 2000.) The construction sector will continue to have a major impact on the pace of growth in We expect the real contracting tax base to grow at a bit slower rate, increasing by almost 10% in 2001 and almost 5% in Clearly a single large hotel renovation or expansion could boost the 2002 number significantly. Inflation will remain moderate, but can be expected to build gradually from 1.8% in 2000, converging toward the U.S. rate of 2.8% predicted for The inflationary process will accelerate with improved demand conditions, tightening labor markets, continued pass through of higher energy costs, and expected increases in shelter costs. We expect 2.4% inflation in 2001 and 2.8% in 2002.
5 While the external environment has lost much of its momentum acquired in 1999 and 2000, local conditions have picked up quite a head of steam. This domestic strength will support real aggregate personal income growth of 2.5 % in 2001, and over 3% in Real gross state product will show similar growth. Hawai'i Economic Indicators (Annual Growth Rates)* Personal Income (Current $) Real Personal Income Real Gross State Product Consumer Price Inflation Visitor Arrivals Eastbound Westbound Real Contracting Non-agricultural Jobs Employment *2000 state product figures are estimates. All 2001 figures are forecast. Real values adjusted for Honolulu CPI inflation. Footnotes: 1. UHERO uses statistical models to prepare forecasts for Hawaii, the US and Asian economies. In those models, we use consumer prices and other data with precision beyond two digits. Because we do not round annual values to the first digit when calculating inflation rates, it is possible that UHERO's estimated inflation rates can differ from those calculated using the Bureau of Labor Statistics' annual numbers. bonham@hawaii.edu, gangnes@hawaii.edu Copyright 2001 Carl Bonham. All Rights Reserved.
Kaua i Economy Shows Signs of Cooling
Kaua i Economic Outlook Summary: Kaua i Economy Shows Signs of Cooling prepared for the County of Kaua i by the University of Hawai i Economic Research Organization July 1, 26 Kaua i Economic Outlook Summary
More informationCarl Bonham and Byron Gangnes University of Hawai'i Economic Research Organization April, 1999
Carl Bonham and Byron Gangnes University of Hawai'i Economic Research Organization April, 1999 1998 YEAR IN REVIEW Hawaii's ailing economy showed signs both of relapse and improvement in 1998. While preliminary
More informationMonetary Policy as the Economy Approaches the Fed s Dual Mandate
EMBARGOED UNTIL Wednesday, February 15, 2017 at 1:10 P.M., U.S. Eastern Time OR UPON DELIVERY Monetary Policy as the Economy Approaches the Fed s Dual Mandate Eric S. Rosengren President & Chief Executive
More informationHawaii Outlook: Moderate Recession Underway
Outlook: Moderate Recession Underway Carl Bonham and Byron Gangnes University of Hawai'i Economic Research Organization 1 November 1, 1 The attacks of September 11 on the World Trade Center and Pentagon
More informationHawaii s Long Expansion Gets Global Economic Lift
UHERO FORECAST PROJECT Annual Hawaii Forecast With Asia-Pacific Outlook Public Edition Hawaii s Long Expansion Gets Global Economic Lift DECEMBER 15, 2017 ANNUAL HAWAII FORECAST WITH ASIA-PACIFIC OUTLOOK
More informationThe Outlook for the U.S. Economy March Summary View. The Current State of the Economy
The Outlook for the U.S. Economy March 2010 Summary View The Current State of the Economy 8% 6% Quarterly Change (SAAR) Chart 1. The Economic Outlook History Forecast The December 2007-2009 recession is
More informationMORGANTOWN METROPOLITAN STATISTICAL AREA OUTLOOK COLLEGE OF BUSINESS AND ECONOMICS. Bureau of Business and Economic Research
2013 MORGANTOWN METROPOLITAN STATISTICAL AREA OUTLOOK COLLEGE OF BUSINESS AND ECONOMICS Bureau of Business and Economic Research 1 MORGANTOWN METROPOLITAN STATISTICAL AREA OUtlook 2013 EXECUTIVE SUMMARY
More informationIn fiscal year 2016, for the first time since 2009, the
Summary In fiscal year 216, for the first time since 29, the federal budget deficit increased in relation to the nation s economic output. The Congressional Budget Office projects that over the next decade,
More informationECONOMY REPORT - CHINESE TAIPEI
ECONOMY REPORT - CHINESE TAIPEI (Extracted from 2001 Economic Outlook) REAL GROSS DOMESTIC PRODUCT The Chinese Taipei economy grew strongly during the first three quarters of 2000, thanks largely to robust
More informationQuarterly Economic Monitor
Overview of Quarterly Economic Monitor December 214 Queenstown s economy boomed during 214, with ' provisional estimate of GDP showing that the Queenstown-Lakes District economy grew by 4.5% over the year
More informationU.S. Economic Slowdown Expected through 1999
!" #$$% !" U.S. Economic Slowdown Expected through 1999 U.S. FORECAST Current Economic Conditions The strong expansion enjoyed by the U.S. economy since 1991 has now slowed considerably, and in light of
More informationExpansion Will Continue, Despite Global Challenges
UHERO FORECAST PROJECT Annual Hawaii Forecast: Public Summary Expansion Will Continue, Despite Global Challenges DECEMBER 11, 2015 ANNUAL HAWAII FORECAST 2015 University of Hawaii Economic Research Organization.
More informationGrowth in Personal Income for Maryland Falls Slightly in Last Quarter of 2015 But state catches up to U.S. rates
Growth in Personal Income for Maryland Falls Slightly in Last Quarter of 2015 But state catches up to U.S. rates Growth in Maryland s personal income fell slightly in the fourth quarter of 2015, according
More informationTHE U.S. ECONOMY IN 1986
of women in the labor force. Over the past decade, women have accounted for 62 percent of total labor force growth. Increasing labor force participation of women has not led to large increases in unemployment
More information1 World Economy. Value of Finnish Forest Industry Exports Fell by Almost a Quarter in 2009
1 World Economy The recovery in the world economy that began during 2009 has started to slow since spring 2010 as stocks are replenished and government stimulus packages are gradually brought to an end.
More informationDistrict Economic. Structurally Deficient Bridges, 2001 (Percent)
District Economic BY ROBERT LACY Apprehension about terrorism and political developments regarding Iraq cast a pall over the Fifth District economy in the last three months of. Many businesses continued
More information3. The outlook for consumer spending and online retail 1
3. The outlook for consumer spending and online retail 1 Key points Consumer spending growth is estimated to have slowed for a second consecutive year in 2018, but is still expected to have grown at an
More informationBanks at a Glance: Economic and Banking Highlights by State 4Q 2017
Economic and Banking Highlights by State 4Q 2017 These semi-annual reports highlight key indicators of economic and banking conditions within each of the nine states comprising the 12th Federal Reserve
More informationIn this report we discuss three important areas of the economy that have received a great deal of attention recently, namely:
March 26, 218 Executive Summary George Mokrzan, PH.D., Director of Economics In this report we discuss three important areas of the economy that have received a great deal of attention recently, namely:
More informationSmith Leonard PLLC Kenneth D. Smith, CPA Mark S. Laferriere, CPA
FURNITURE INSIGHTS Smith Leonard PLLC s Industry Newsletter May 2018 HIGHLIGHTS - EXECUTIVE SUMMARY A fter hearing about how sluggish business was in the first quarter, our survey of residential furniture
More informationW HIGHLIGHTS - EXECUTIVE SUMMARY
FURNITURE INSIGHTS Smith Leonard PLLC s Industry Newsletter June 2018 W HIGHLIGHTS - EXECUTIVE SUMMARY e had heard at the High Point Market that business seemed to have picked up a bit. We also heard that
More informationCOMMENTARY NUMBER 372 April Trade Deficit, Bernanke Shift. June 9, Earthquake-Diminished Imports of Auto Parts Narrowed April Deficit
COMMENTARY NUMBER 372 April Trade Deficit, Bernanke Shift June 9, 2011 Earthquake-Diminished Imports of Auto Parts Narrowed April Deficit Trade Revisions Showed Somewhat Deeper Historical Shortfalls Mr.
More informationLETTER. economic COULD INTEREST RATES HEAD UP IN 2015? JANUARY Canada. United States. Interest rates. Oil price. Canadian dollar.
economic LETTER JANUARY 215 COULD INTEREST RATES HEAD UP IN 215? For six years now, that is, since the financial crisis that shook the world in 28, Canadian interest rates have stayed low. The key interest
More informationVisitor Industry Still Leading Recovery
uhero State Forecast Update, PUBLIC SUMMARY Visitor Industry Still Leading Recovery May 11, 2012 Tourism continues to be the primary engine of Hawaii s recovery. A number of other sectors have turned the
More informationSME Monitor Q aldermore.co.uk
SME Monitor Q1 2014 aldermore.co.uk aldermore.co.uk Contents Executive summary UK economic overview SME inflation index one year review SME cost inflation trends SME business confidence SME credit conditions
More informationValentyn Povroznyuk, Edilberto L. Segura
National real GDP grew by 2.3% quarter-over-quarter (qoq) in Q2 2015. Average real GDP growth for Q4 2011-Q1 2015 was revised downwards by 0.2% from the previously published 2.2%. US industrial output
More informationGlobal PMI. Global economy set for robust Q2 growth. June 8 th IHS Markit. All Rights Reserved.
Global PMI Global economy set for robust Q2 growth June 8 th 2017 2 PMI indicates robust global growth in Q2 The global economy is on course for a robust second quarter, according to PMI survey data. The
More informationObservation. January 18, credit availability, credit
January 18, 11 HIGHLIGHTS Underlying the improvement in economic indicators over the last several months has been growing signs that the economy is also seeing a recovery in credit conditions. The mortgage
More informationSecond Quarter 2016 Volume 9, number 2 colorado.edu/business/brd
Second Quarter 2016 Volume 9, number 2 colorado.edu/business/brd Summary Stable Expectations The panel of business leaders surveyed in the Leeds Business Confidence Index (LBCI) reported steady optimism
More informationOutlook for Economic Activity and Prices
Not to be released until : p.m. Japan Standard Time on Saturday, October 31, 15. October 31, 15 Bank of Japan Outlook for Economic Activity and Prices October 15 (English translation prepared by the Bank's
More informationInsolvency forecasts. Economic Research August 2017
Insolvency forecasts Economic Research August 2017 Summary We present our new insolvency forecasting model which offers a broader scope of macroeconomic developments to better predict insolvency developments.
More informationThe President s Report to the Board of Directors
The President s Report to the Board of Directors April 4, 214 Current Economic Developments - April 4, 214 Data released since your last Directors' meeting show the economy was a bit stronger in the fourth
More informationStrategic development of the banking sector
II BANKING SECTOR STABILITY AND RISKS Strategic development of the banking sector Estonia s financial system is predominantly bankbased owing to the smallness of the domestic market (see Figure 1). In
More informationEconomic Forecast OUTPUT AND EMPLOYMENT WHAT THE TABLE SHOWS:
December 3, 13 Economic Forecast OUTPUT AND EMPLOYMENT 7 8 9 1 11 1 13 1 United States Real GDP $ billions (fourth quarter) $1,99 $1,7 $1, $1,9 $1, $1, $1,97 $1, % change over the four quarters 1.9% -.8%
More informationThe Changing Nature of Las Vegas Tourism
A monthly report produced for Commerce Real Estate Solutions by Stephen P. A. Brown, PhD, Center for Business & Economic Research University of Nevada, Las Vegas Issue 16 April 2012 The Changing Nature
More informationThe Mid-Year Economic Forecast. June 20, 2018
The Mid-Year Economic Forecast June 20, 2018 Agenda National Economy: On a Solid Footing Construction & Housing: Still Strong Risks: What Could Go Wrong? 2 National Economy On a Solid Footing 3 GDP Grew
More informationHawai`i Recovery Takes Hold March 26, 2010
Annual Hawai`i Economic Forecast Hawai`i Recovery Takes Hold March 26, 2010 UHERO Annual Hawai i Forecast Copyright c 2010 University of Hawai i Economic Research Organization. All rights reserved. 2424
More informationSIP Aggressive Portfolio
SIP LIFESTYLE PORTFOLIOS FACT SHEET (NOV 2015) SIP Aggressive Portfolio SIP Aggressive Portfolio is a unitized fund, which is designed to provide long term capital growth. It is designed for those who
More informationU.S. Economic Outlook with Focus on Maine: Shining Amidst Global Gloom
U.S. Economic Outlook with Focus on Maine: Shining Amidst Global Gloom Michael Dolega Senior Economist, TD Economics 15 Annual MEREDA Forecast Conference Portland, Maine January, 15 Key Themes Global economic
More informationGlobal PMI. Global economy suffers loss of momentum in March. April 10 th IHS Markit. All Rights Reserved.
Global PMI Global economy suffers loss of momentum in March April 10 th 2018 2 Global economy suffers marked loss of growth momentum Global economic growth slowed sharply to the weakest for over a year
More informationBanks at a Glance: Economic and Banking Highlights by State 2Q 2018
Economic and Banking Highlights by State 2Q 2018 These semi-annual reports highlight key indicators of economic and banking conditions within each of the nine states comprising the 12th Federal Reserve
More informationNew England Economic Partnership May 2013: Massachusetts
Executive Summary and Highlights MASSACHUSETTS ECONOMIC OUTLOOK The Massachusetts economy is in the fourth year of the expansion that began in the summer of 2009. During this expansion, real gross state
More informationCREDIT UNION TRENDS REPORT
CREDIT UNION TRENDS REPORT CUNA Mutual Group Economics March 1 (January 1 Data) Highlights During January, credit unions picked up 3, in new memberships, and loan and savings balances grew at an 11.% and.%
More informationLETTER. economic. The price of oil and prices at the pump: why the difference? NOVEMBER bdc.ca
economic LETTER NOVEMBER 211 The price of oil and prices at the pump: why the difference? Since the end of April the price of crude oil based on the West Texas Intermediate (WTI) benchmark has dropped
More informationGus Faucher Stuart Hoffman William Adams Kurt Rankin Mekael Teshome Chief Economist Senior Economic Advisor Senior Economist Economist Economist
July 217 Gus Faucher Stuart Hoffman William Adams Kurt Rankin Mekael Teshome Chief Economist Senior Economic Advisor Senior Economist Economist Economist Executive Summary Job Growth Picked Back Up Again
More informationOutlook for Economic Activity and Prices
Not to be released until : p.m. Japan Standard Time on Thursday, May 1, 8. May 1, 8 Bank of Japan Outlook for Economic Activity and Prices April 8 (English translation prepared by the Bank's staff based
More informationFOR RELEASE: ONLINE: December 6, 2017, 5:00 p.m. PRINT: December 7, 2017
T Chapman University A. Gary Anderson Center for Economic Research FOR RELEASE: ONLINE: December 6, 2017, 5:00 p.m. PRINT: December 7, 2017 CONTACT: James Doti, President Emeritus and Donald Bren Distinguished
More informationOutlook for the US and Japan
Celebrating Ten Years of Service to Hawaii Outlook for the US and Japan 50th Anniversary of Statehood Conference! Dr. Byron Gangnes UHERO 2009 Overview! State of the global business cycle Is recovery underway?!
More informationMaking Investments Today for a Competitive Economy Tomorrow
Making Investments Today for a Competitive Economy Tomorrow Quarterly U.S. Productivity and Innovation Snapshot Adam S. Hersh and Christian Weller May 2012 Productivity growth the rate at which we increase
More informationLeeds Business Confidence Index
Third Quarter 2018 Volume 11, number 3 colorado.edu/business/brd Leeds Business Confidence Steady Ahead of Q3 2018 The Leeds Business Confidence Index (LBCI) captures Colorado business leaders expectations
More informationQuarterly Economics Briefing
Quarterly Economics Briefing March 2015 Review of Current Conditions: The Economic Outlook and Its Impact on Workers Compensation The exhibits below are updated to reflect the current economic outlook
More informationThe Province of Prince Edward Island Employment Trends and Data Poverty Reduction Action Plan Backgrounder
The Province of Prince Edward Island Employment Trends and Data Poverty Reduction Action Plan Backgrounder 5/17/2018 www.princeedwardisland.ca/poverty-reduction $000's Poverty Reduction Action Plan Backgrounder:
More informationDEMOGRAPHIC DRIVERS. Household growth is picking up pace. With more. than a million young foreign-born adults arriving
DEMOGRAPHIC DRIVERS Household growth is picking up pace. With more than a million young foreign-born adults arriving each year, household formations in the next decade will outnumber those in the last
More information2014 Annual Review & Outlook
2014 Annual Review & Outlook As we enter 2014, the current economic expansion is 4.5 years in duration, roughly the average life of U.S. economic expansions. There is every reason to believe it will continue,
More informationEconomic Outlook, January 2016 Jeffrey M. Lacker President, Federal Reserve Bank of Richmond
Economic Outlook, January 2016 Jeffrey M. Lacker President, Federal Reserve Bank of Richmond Annual Meeting of the South Carolina Business & Industry Political Education Committee Columbia, South Carolina
More informationMain Economic & Financial Indicators Poland
Main Economic & Financial Indicators Poland. 6 OCTOBER 2015 NAOKO ISHIHARA ECONOMIST ECONOMIC RESEARCH OFFICE (LONDON) T +44-(0)20-7577-2179 E naoko.ishihara@uk.mufg.jp The Bank of Tokyo-Mitsubishi UFJ,
More informationLeeds Business Confidence Index
First Quarter 2018 Volume 11, number 1 colorado.edu/business/brd Leeds Business Confidence Rebounds Ahead of Q1 2018 The Leeds Business Confidence Index (LBCI) captures Colorado business leaders expectations
More informationBaseline U.S. Economic Outlook, Summary Table*
October 2014 Solid U.S. Economic Data Belie Market Turmoil Executive Summary September payroll job growth was above consensus with 248,000 jobs added over the month. September private-sector employment
More informationEconomic ProjEctions for
Economic Projections for 2016-2018 ECONOMIC PROJECTIONS FOR 2016-2018 Outlook for the Maltese economy 1 Economic growth is expected to ease Following three years of strong expansion, the Bank s latest
More informationINLAND EMPIRE REGIONAL INTELLIGENCE REPORT. School of Business. Fourth Quarter 2018 CENTER FOR ECONOMIC FORECASTING & DE VELOPMENT
INLAND EMPIRE REGIONAL INTELLIGENCE REPORT Fourth Quarter 2018 School of Business CENTER FOR ECONOMIC FORECASTING & DE VELOPMENT INTRODUCTION 2018 was another strong year for the Inland Empire. The region
More informationRes. HJ13 A29b conomic Renewal. -Budget Papers. Tabled in the House of Commons by the Honourable Michael H. Wilson. Canada
Res. HJ13 A29b 1987 conomic Renewal -Budget Papers. Tabled in the House of Commons by the Honourable Michael H. Wilson Canada Securing Economic Renewal Budget Papers The Economic Outlook and Fiscal Plan
More informationMaking the Right Investments Now Is Key to Future Productivity
Making the Right Investments Now Is Key to Future Productivity Quarterly U.S. Productivity and Innovation Snapshot Adam S. Hersh and Christian Weller February 15, 2012 Introduction It has been four years
More informationMinutes of the Monetary Policy Council decision-making meeting held on 2 September 2015
Minutes of the Monetary Policy Council decision-making meeting held on 2 September 2015 Members of the Monetary Policy Council discussed monetary policy against the background of the current and expected
More informationEconomic Analysis & Revenue Assumptions
2008-2009 Adopted Budget 2009-2010 Budget Plan Economic Analysis & Revenue Assumptions Overall Economic Conditions The assumptions used in preparing the FY2008-09 revenue budget and the FY2009-10 revenue
More informationLeeds Business Confidence Index
Second Quarter 2018 Volume 11, number 2 colorado.edu/business/brd Leeds Business Confidence Steady Ahead of Q2 2018 The Leeds Business Confidence Index (LBCI) captures Colorado business leaders expectations
More informationSouth African Reserve Bank STATEMENT OF THE MONETARY POLICY COMMITTEE. Issued by Lesetja Kganyago, Governor of the South African Reserve Bank
South African Reserve Bank PRESS STATEMENT EMBARGO DELIVERY 18 January 2018 STATEMENT OF THE MONETARY POLICY COMMITTEE Issued by Lesetja Kganyago, Governor of the South African Reserve Bank In recent weeks,
More informationNATIONAL ECONOMIC OUTLOOK
November 2017 NATIONAL ECONOMIC OUTLOOK Gus Faucher Stuart Hoffman William Adams Kurt Rankin Mekael Teshome Chief Economist Senior Economic Advisor Senior Economist Economist Economist THE PNC FINANCIAL
More informationGlobal PMI. Global economy buoyed by rising US strength. June 12 th IHS Markit. All Rights Reserved.
Global PMI Global economy buoyed by rising US strength June 12 th 2018 2 Global PMI rises but also brings signs of slower future growth At 54.0 in May, the headline JPMorgan Global Composite PMI, compiled
More informationThe UK economic and fiscal outlook
The UK economic and fiscal outlook Report for StepChange Debt Charity Centre for Economics and Business Research ltd Contents Executive summary 3 Global economic outlook 4 UK economic outlook 8 UK regional
More informationASEAN Insights: Regional trends
ASEAN Insights: Regional trends January 2017 1. Global trends GLOBAL ECONOMY AND EQUITY MARKETS ENTER 2017 ON A STRONG NOTE DESPITE GEOPOLITICAL UNCERTAINTIES The global economy entered 2017 on a strong
More informationECONOMIC PROSPECTS FOR HONG KONG IN Win Lin Chou, ACE Centre for Business and Economic Research, Hong Kong
ECONOMIC PROSPECTS FOR HONG KONG IN 2014-15 Win Lin Chou, ACE Centre for Business and Economic Research, Hong Kong I. The Current Trends Real gross domestic product (GDP) in Hong Kong slowed to 1.8 percent
More informationEconomic Projections :1
Economic Projections 2017-2020 2018:1 Outlook for the Maltese economy Economic projections 2017-2020 The Central Bank s latest economic projections foresee economic growth over the coming three years to
More informationINFLATION REPORT PRESS CONFERENCE. Thursday 10 th May Opening Remarks by the Governor
INFLATION REPORT PRESS CONFERENCE Thursday 10 th May 2018 Opening Remarks by the Governor Three months ago, the MPC said that an ongoing tightening of monetary policy over the next few years would be appropriate
More informationEconomic Forecast OUTPUT AND EMPLOYMENT WHAT THE TABLE SHOWS:
December 7, 13 Economic Forecast OUTPUT AND EMPLOYMENT 7 8 9 1 11 1 13 1 United States Real GDP $ billions (fourth quarter) $1,99 $1,575 $1,5 $1,9 $15, $15,5 $15,97 $1, % change over the four quarters
More informationPNC Investment Perspective
March/April 2014 PNC Investment Perspective Decoupling of Developed and Emerging Markets? Jim Dunigan Mr. Dunigan is Executive Vice President and Managing Executive, Investments for PNC Asset Management
More informationLeeds Business Confidence Index
Fourth Quarter 2017 Volume 10, number 4 colorado.edu/business/brd Leeds Business Confidence Index Cools Ahead of Q4 2017 The Leeds Business Confidence Index (LBCI) captures Colorado business leaders expectations
More informationMeeting with Analysts
CNB s New Forecast (Inflation Report I/2018) Meeting with Analysts Tomáš Holub Prague, 2 February 2018 Outline 1. Assumptions of the forecast 2. The new macroeconomic forecast 3. Comparison with the previous
More informationBaseline U.S. Economic Outlook, Summary Table*
December 18 Gus Faucher Stuart Hoffman William Adams Kurt Rankin Abbey Omodunbi Chief Economist Senior Economic Advisor Senior Economist Economist Economist Executive Summary Continued Solid Job Growth;
More informationGlobal Equities PUTTING RECENT MARKET VOLATILITY IN PERSPECTIVE
PRICE POINT February 2018 Timely intelligence and analysis for our clients. Global Equities PUTTING RECENT MARKET VOLATILITY IN PERSPECTIVE KEY POINTS The upswing in equity market volatility can be attributed
More informationMetro Milwaukee Business Outlook Survey Fourth-Quarter, 2016
Metro Milwaukee Business Outlook Survey Fourth-Quarter, 2016 Prepared by: Economic Research Division September 27, 2016 Metropolitan Milwaukee Association of Commerce www.mmac.org www.mmac.org Metro Milwaukee
More informationIndicators of a recovering economy Building permits through the roof
Indicators of a recovering economy The resale and new home market continues to improve nationwide. The National Association of Realtors reported that previously-owned homes sold at an annual pace of 4.92
More informationCONGRESS OF THE UNITED STATES CONGRESSIONAL BUDGET OFFICE CBO The Budget and Economic Outlook: 2016 to 2026 Percentage of GDP 100 Actual Projected 80
CONGRESS OF THE UNITED STATES CONGRESSIONAL BUDGET OFFICE The Budget and Economic Outlook: 6 to 6 Percentage of GDP Actual Projected 8 In s projections, growing 6 deficits drive up debt over the next decade,
More informationHealthy Economy Faces New Administr ation Risks
UHERO FORECAST PROJECT Annual Hawaii Forecast With Asia-Pacific Outlook Public Edition Healthy Economy Faces New Administr ation Risks DECEMBER 16, 2016 ANNUAL HAWAII FORECAST WITH ASIA-PACIFIC OUTLOOK
More informationCONGRESS OF THE UNITED STATES CONGRESSIONAL BUDGET OFFICE
CONGRESS OF THE UNITED STATES CONGRESSIONAL BUDGET OFFICE The Budget and Economic Outlook: 2017 to 2027 Percentage of GDP 4 2 Surpluses Actual Current-Law Projection 0 Growth in revenues is projected -2-4
More informationLETTER. economic. A quick look at food prices SEPTEMBER bdc.ca
economic LETTER SEPTEMBER A quick look at food prices Food prices have risen significantly in Canada in recent years. 1 Between uary 2007 and, the food prices index was the component of the Consumer Price
More informationFRONT BARNETT ASSOCIATES LLC
FRONT BARNETT ASSOCIATES LLC I N V E S T M E N T C O U N S E L May 31, 2000 ECONOMIC OUTLOOK - - SOFT LANDING AHEAD Economic growth in the U.S. has been incredibly strong - - too strong for the Federal
More informationThe End of the Business Cycle?
to look at not only how much we save, but also at how that saving is invested and how productive that investment is. Much saving goes ultimately into business investment, where it raises future productivity
More informationThe Election Economy. November 29, City of Georgetown
The Election Economy November 29, 2016 City of Georgetown More Growth Coming Why are people moving here? Citizens Quality of Life Planning for Growth 100% Renewable Energy by 2018 Transportation Investments
More informationEMBARGOED UNTIL MARCH 2, 2011
Outlook FORECAST: 2011-2015 March 2011 BUREAU OF BUSINESS AND ECONOMIC RESEARCH COLLEGE OF BUSINESS AND ECONOMICS WEST VIRGINIA UNIVERSITY www.bber.wvu.edu Executive Summary The Morgantown metropolitan
More informationBeyond The realm Of possibilities
Beyond The realm Of possibilities 2013 2nd Quarter Report Table of Contents - Outlook of U.S. Real Estate 3-16 - Products Performance Review 17-20 - Performance: DFSP Series 21-24 - Market Outlook 25-28
More informationThe Economic Outlook. N. Gregory Mankiw Chairman of the Council of Economic Advisers. Testimony before the House Budget Committee Washington, D.C.
The Economic Outlook N. Gregory Mankiw Chairman of the Council of Economic Advisers Testimony before the House Budget Committee Washington, D.C. February 3, 2004 Chairman Nussle, Ranking Member Spratt,
More informationLETTER. economic. Is Canada less dependent on the United States than it used to be? DECEMBER 2011 JANUARY bdc.ca
economic LETTER DECEMBER JANUARY 212 Is less dependent on the United States than it used to be? weathered the last recession better than the United States. The decline in real GDP in was less pronounced
More informationCREDIT UNION TRENDS REPORT
CREDIT UNION TRENDS REPORT CUNA Mutual Group Economics February (December Data) Highlights During December, credit unions picked-up 33, in new memberships and loan and savings balances grew at a.% and.%
More informationAfter housing s best year in a decade, what s next?
DECEMBER 2016 After housing s best year in a decade, what s next? The year is drawing to a close and it is time to take stock of where housing and mortgage markets have been and where they likely are headed.
More informationfile:///c:/users/cathy/appdata/local/microsoft/windows/temporary Int...
1 of 5 9/25/17, 8:57 AM A Publication of the National Association of Manufacturers September 25, 2017 As expected, the Federal Reserve opted to not raise short-term interest rates at its September 19 20
More informationMacroeconomic and financial market developments. February 2014
Macroeconomic and financial market developments February 2014 Background material to the abridged minutes of the Monetary Council meeting 18 February 2014 Article 3 (1) of the MNB Act (Act CXXXIX of 2013
More informationGlobal Economic Outlook 2014 Year Ahead Outlook January 2014
PRUDENTIAL INTERNATIONAL INVESTMENTS ADVISERS, LLC. Global Economic Outlook 2014 Year Ahead Outlook January 2014 2014 Year Ahead - Global Economic Outlook Global Growth Strengthens as U.S. & U.K. GDP Growth
More informationdistrict highlights The New York New Jersey Job Recovery James Orr and Rae D. Rosen Note from the Editor Volume 3 Number 12 October 1997
Volume Number 1 Second district highlights October 19 The New York New Jersey Job Recovery James Orr and Rae D. Rosen Employment in the New York New Jersey region has been rising steadily since the steep
More informationThe Peterborough Census Metropolitan Area (CMA) spans the city of Peterborough and six other jurisdictions. The area is
PETERBOROUGH CENSUS METROPOLITAN AREA Presented by the Credit Unions of Ontario and the Ontario Chamber of Commerce 1 Peterborough s housing market saw a banner year in 2015. The Peterborough Census Metropolitan
More information2018 Independence Day Holiday Travel Forecast Review
(Million) (Percent Change) Independence Day holiday travel will increase by nearly 2.4 million to 46.9 million, the most on record AAA and IHS Markit forecast 46.9 million travelers for the 2018 Independence
More information