Download the January 2020 Snapshot
- Consumer spending growth was solid in November.
Real spending on durable goods rose robustly, while growth of real expenditures on nondurable goods and services was moderate.
- Real business equipment spending declined in 2019Q3, and its growth year-to-date was well below its pace in 2018.
The October-November average of shipments of nondefense capital goods ex-aircraft was roughly equal to the Q3 average, suggesting that business equipment spending could remain soft in Q4.
- On balance, housing activity indicators displayed further gradual improvement in November.
The six-month upward trend in single-family housing starts and permits has been firming. New home sales also indicate solid conditions. A still-strong labor market and low mortgage rates have provided support to the housing sector.
- Payroll growth was solid in December, and was somewhat firmer in the second half of 2019 than it was in the first half. The unemployment rate, the labor force participation rate and the employment-to-population ratio were all unchanged, with the latter remaining at its expansion high.
Labor compensation growth softened in December.
- Core PCE inflation remained below the FOMC’s longer-run objective.
- U.S. equity indices rose over the past month, reaching all-time highs. Implied volatility remained low. The nominal 10-year Treasury yield was roughly unchanged. The market-implied expected policy rate path was little changed. The broad trade-weighted dollar index declined slightly. Amid some volatility, oil prices fell on net.
We post accompanying data for the charts, if permitted, with the intent to expand the series to the fullest extent possible.
Read more about the launch of the series: Just Released: U.S. Economy in a Snapshot
, Liberty Street Economics
, June 2015
2020 Release Dates
Publication is normally on a Monday, with three Friday exceptions noted.