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UK business, professional services optimism fell in quarter to May at fastest pace since November 2020, employment expected to rise at same pace in quarter to August; consumer services' employment up, stronger employment expected in quarter to August: CBI

US disposable personal income up 0.3% in April, personal consumption expenditures up 0.9%; monthly changes reflect increase in compensation and personal income receipts on assets that were partly offset by decline in proprietors' income: Dept. of Commerce

University of Michigan's Index of Consumer Sentiment posts final May reading of 58.4, down from April's 65.2; falling optimism largely driven by continued negative views on current buying conditions for houses and durables, future outlook for the economy

US real GDP in Q1 decreased at annual rate of 1.5%, revised from prior 1.4% estimate; update reflects downward revisions to private inventory investment and residential investment partly offset by an upward revision to consumer spending: Dept. of Commerce

Canada's retail sales virtually unchanged at C$60.1B in March, as higher sales at gasoline stations were offset by lower sales at motor vehicle and parts dealers; retail sales decreased 1.0% in volume terms: Statistics Canada

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An example of a few headlines sent to our customers on Apr, 02 2022
Housing & Economy

powered by Industry Intelligence, Inc.

April 02, 2022

 Consumer Economics

Consumer Economics

Euro area annual inflation estimated at 7.5% in March, up from 5.9% in February; energy is expected to have the highest annual rate in March at 44.7%: Eurostat
Eurostat (04/01)

US disposable personal income increased 0.4% in February over January, personal consumption expenditures up 0.2%; increase in personal income reflected increase in compensation partly offset by a decrease in government social benefits: Dept. of Commerce
U.S. Dept. of Labor (DOL) (03/31)

Household Income/Expenditures

UK household spending growth in Q4 increased by 0.5% compared to Q3 and 8.1% when compared to Q4 2020; largest positive contribution to growth was from transport services: ONS
Office for National Statistics (ONS) (03/31)

Real US house prices up 6.3% in January from December, up 26.8% year-over-year; consumer house-buying power down 4.0% from December, down 4.0% annually, affordability to continue to decline as rising mortgage rates outpace household income: First American
First American Financial Corp. (03/30)

Employee Compensation & Benefits

Nearly 600 workers at Kellogg's Cheez-Its plant in Omaha, Nebraska, win new contract that delivers more than 15% wage increases over three years; deal comes after 1,400 workers at company's cereal plants went on strike for nearly three months last fall
Associated Press (03/30)

Former participant in a 401(k) plan run by PCA is suing the company and its fiduciaries for violating ERISA duties, alleging they charged excessive record-keeping and investment management fees, and failed to remove high-cost record keeper and consultant
Pensions & Investments (03/30)

Employee Well-Being/Satisfaction

UPM to start including anonymous examples of misconduct cases, consequences, lessons learned in its annual integrity report; company renews its Report Misconduct channel operated by independent third-party provider for all employees, stakeholders globally
UPM Kymmene Oyj (03/31)

Labor Scarcity/Skills Shortage

National Restaurant Assn. supports Essential Workers for Economic Advancement Act, which creates pathway for workers to come to US on market-driven, non-immigrant, three-year visas; program intended for small businesses with low sales per employee
Contify Retail News (03/30)

 Leading Indicators

GDP

Canadian real GDP grew 0.2% in January, up for eighth month in a row; goods-producing industries increased 0.8% while services-producing industries were flat, notable increases in manufacturing, accommodation and food services sectors: Statistics Canada
Statistics Canada (03/31)

US real GDP increased in 47 states and DC in Q4 2021, percent change in real GDP ranged from 10.1% in Texas to -2.3% in Iowa; real GDP increased in all 50 states and DC in 2021, ranging from 8.6% in Tennessee to 0.3% in Alaska: Dept. of Commerce
U.S. Dept. of Commerce (DOC) (03/31)

Leading Indicators & Economic Signals

European Commission's Economic Sentiment Indicator in March fell 5.4 points from February to 108.5 in the euro area; decline reflects drop in consumer confidence and substantial losses in retail trade and industry confidence
European Commission (03/30)

Energy Indicators

Average price of US coal exports during Q4 was US$160.58/short ton, while average price of US coal imports was US$110.28/short ton; Q4 coal production fell 1.0% from Q3, exports increased 4.5%: EIA
U.S. Energy Information Administration (EIA) (04/01)

US commercial crude oil inventories in week ended Mar. 25 decreased by 3.4 million barrels from the previous week to 409.9 million barrels; inventories are about 14% below the five year average for this time of year: EIA
U.S. Energy Information Administration (EIA) (03/30)

Employment Statistics & Trends

Quest Diagnostics reports 2021 workforce drug test positivity rate at 4.6%, up from all-time low of 3.5% in 2010-2012 period; positivity rates increase in safety-sensitive jobs as well as in workers tested after on-the-job accidents
Quest Diagnostics Inc. (04/01)

Total US nonfarm payroll employment rose by 431,000 in March, while unemployment rate declined by 0.2 percentage point to 3.6%; notable job gains continued in leisure and hospitality, professional and business services, retail trade, manufacturing: BLS
U.S. Dept. of Labor (DOL) (04/01)

Interest Rates

US 30-year fixed-rate mortgage averaged 4.67% in week ended Mar. 31, up from 4.42% last week; 30-year FRM averaged 3.18% a year ago: Freddie Mac
Federal Home Loan Mortgage Corp. (Freddie Mac) (03/31)

Retail Metrics

Canada's retail sales reached C$48.1B in January, up 11.1% year-over-year; largest increase came from sales of automotive and household fuels, up 40.7% year-over-year: Statistics Canada
Statistics Canada (04/01)

Japan's retail sales in February fell 0.8% year-over-year, the first decline in five months as COVID-19 restrictions hit service sector businesses; households remain cautious about rising prices driven by the Ukraine war, weakening of the yen
Reuters (03/30)

Inflation

Tesco to increase the price it pays to its fresh milk farmers from £0.3416/liter to £0.4084/liter, as suppliers battle unprecedented levels of on-farm inflation
Reuters (04/01)

J.P.Morgan Global Manufacturing PMI in March fell to an 18-month low of 53.0 from February's 53.7; output, demand growth hampered by ongoing COVID-19 disruptions, global supply disruptions, rising inflationary pressures and geopolitical tensions
Markit Economics Ltd. (04/01)

 Housing/Real Estate

Housing Affordability

Additional 18% of US housing market affordable to men but out of reach to women, can be as much as 22%; income inequality impact on housing affordability differs by industry, women working in utilities industry have more homes available to them: Zillow
Zillow Group Inc. (03/30)

Mortgages/Home Financing

US mortgage applications decreased 6.8% in week ended Mar. 25 from one week earlier; Refinance Index decreased 15.0%, Purchase Index increased 1.0%: Mortgage Bankers Assn.
Mortgage Bankers Association (MBA) (03/30)

Residential Construction & Real Estate

Acting Governor Kounalakis signed legislation that extends eviction protections for Californians participating in rental assistance programs; the state's US$5.5B COVID-19 Rent Relief program has assisted more than 220,000 low-income households to date
Office of Governor Gavin Newsom (04/01)

Alside survey finds 39% of Americans who had new siding installed cited damage as the reason for replacement, while 36% replaced siding to increase home's curb appeal; 32% hoped to boost home's energy efficiency, 32% to reduce exterior maintenance
PR Newswire (03/31)

Commercial Construction & Real Estate

Advocate Illinois Masonic Medical Center in Chicago plans US$645M, 332,780 square-foot construction project with new breast center, expanded cardiology services, ICU and neonatal ICU, maternity beds; 326 private-bed project to be completed in 2030
Chicago Tribune (03/31)

 Corporate Economics

Corporate Management

Intertape Polymer Group files circular for special meeting of shareholders to approve acquisition by an affiliate of Clearlake Capital; under terms of the arrangement, purchaser will acquire all outstanding common shares of IPG for C$40.50/share in cash
Canada StockWatch (04/01)

Valvoline names Lori Flees president of Retail Services to oversee more than 1,600 location in US, Canada, with nearly 9,000 employees; Flees joins Valvoline from Walmart, where she most recently served as Senior VP, COO of the Health, Wellness division
Valvoline LLC (03/31)

Corporate Financing

Industrial packaging company Grief completes divestiture of flexible packaging JV to Gulf Refined Packaging for a total cash consideration of US$123M; proceeds from sale will be used toward debt repayment
Greif Inc. (04/01)

Corporate Economics

S&P Global US Manufacturing PMI posted 58.8 in March, up from 57.3 in February; growth was supported by faster increases in output, new orders as domestic, foreign client demand increased and backlogs of work grew due to greater new sales
Markit Economics Ltd. (04/01)

S&P Global Canada Manufacturing PMI registered 58.9 in March, up from 56.6 in February, highest reading in survey's eleven year history; output, new order growth increased at historically elevated rates despite surge in fuel, input, transportation costs
Markit Economics Ltd. (04/01)

 Country Economics

Country Economics

UK current account deficit narrowed to £11.4B, or 1.9% of GDP in Q4; primary income account recorded a surplus of £4.7B, or 0.8% of GDP in Q4, the first surplus recorded since Q4 2011: ONS
Office for National Statistics (ONS) (03/31)

German government cuts 2022 economic growth forecast to 1.8% from a previous forecast of 4.6% after growing 2.9% in 2021; downward revision due to rising concern over energy supplies and prices following Russia's invasion of Ukraine
Associated Press (03/30)

 Macro Data
Latest Value Prev Value Year Ago Value
ADP Non-Farm Private Sector Employment

Thousands   |   Latest: Mar/22

129,016.93 128,561.82 122,572
Unemployment Claims 4-Wk. Avg.

Total, Seasonally Adjusted   |   Latest: 03/26/22

208,500 212,000 721,500
Unemployment Claims, U.S. (NSA)

Total, Not Seasonally Adjusted   |   Latest: 03/26/22

195,460 182,339 723,653
Unemployment Claims, U.S. (SA)

Total, Seasonally Adjusted   |   Latest: 03/26/22

202,000 188,000 729,000
Unemployment Rate, U.S.

%   |   Latest: Mar/22

3.60 3.80 6.00
Treasury Bills: 10-Year, U.S.

%   |   Latest: Feb/22

1.93 1.76 1.26
30-Year FRM

%   |   Latest: 03/31/22

4.67 4.42 3.18
CAD/USD - daily

Real/US$   |   Latest: 04/01/22

0.80 0.80 0.80
Consumer Confidence

Index 1985=100   |   Latest: Feb/22

110.50 111.10 90.40
Leading Indicators

Interactive Chart: Click on legend/key to see full view on your dashboard

Latest Energy Updates Latest Value Prev Value Year Ago Value YOY Chg
Crude Oil Spot Price: WTI, Daily

US$/Barrel  |   Latest: 04/01/22

99.42 99.90 61.45 61.79%
Diesel: Gulf Coast Ultra Low Sulfur 2

US$/Gallon  |   Latest: 04/01/22

3.60 3.60 1.83 97.29%
Electricity: Retail Price, Commercial

Cents/KWH  |   Latest: Jan/22

11.36 11.20 10.31 10.18%
Electricity: Retail Price, Industrial

Cents/KWH  |   Latest: Jan/22

7.30 7.16 6.35 14.96%
Natural Gas Spot Price: Henry Hub, Daily

US$/mmBTU  |   Latest: 04/01/22

5.72 5.66 2.64 116.82%
Interactive Bar Chart Image Housing Starts, U.S. Interactive Bar Chart Image Midwest Northeast South West

Interactive Chart: Click on legend/key to see full view on your dashboard

Interactive Line Chart Image Construction Spending: Nonresidential Construction Spending: Residential
Latest Employment Updates Latest Value Prev Value Year Ago Value YOY Chg
Nonfarm Payroll Monthly Change, U.S.

Thousands  |   Latest: Feb/22

678.00 481.00 na
Unemployment Claims, U.S. (SA)

Total, Seasonally Adjusted  |   Latest: 03/26/22

202,000 188,000 729,000 -72.29%
Latest Corporate Economics Updates Latest Value Prev Value Year Ago Value YOY Chg
Corporate Profits: After Tax

billions $  |   Latest: Q4

2,527 2,523 2,112 19.68%
Inventories: Total Business

millions US$  |   Latest: Jan/22

2,237,909 2,213,044 2,008,340 11.43%
Manuf: Avg Weekly Hrs, Non-Supervisors

Hours  |   Latest: Feb/22

41.50 41.20 41.50 0%
Manufacturers Orders: Durable

millions US$  |   Latest: Feb/22

271,512 277,561 246,261 10.25%
Manufacturers Orders: Nondurable

millions US$  |   Latest: Jan/22

266,652 263,379 236,000 12.99%
Interactive Line Chart Image Retail Sales: Bldg. & Garden Supplies, SA Retail Sales: Department Stores, SA Retail Sales: Drug Stores, SA Retail Sales: Grocery Stores, SA Retail Sales: Nonstore Retailers SA Retail Sales: WH Clubs & Superstores, SA

Interactive Chart: Click on legend/key to see full view on your dashboard

Sources: Industry Intelligence Inc.,Census Bureau

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