Federal Reserve financial accounts data (formerly known as the "flow of funds") for Q2 show the net volume of credit market borrowing at a $1.4 trillion annual rate, down markedly from $2.1 trillion in Q1. Q1 is moderately revised [...]
Introducing
Carol Stone, CBE
in:Our Authors
Carol Stone, CBE came to Haver Analytics in 2003 following more than 35 years as a financial market economist at major Wall Street financial institutions, most especially Merrill Lynch and Nomura Securities. She has broad experience in analysis and forecasting of flow-of-funds accounts, the federal budget and Federal Reserve operations. At Nomura Securites, among other duties, she developed various indicator forecasting tools and edited a daily global publication produced in London and New York for readers in Tokyo. At Haver Analytics, Carol is a member of the Research Department, aiding database managers with research and documentation efforts, as well as posting commentary on select economic reports. In addition, she conducts Ways-of-the-World, a blog on economic issues for an Episcopal-Church-affiliated website, The Geranium Farm. During her career, Carol served as an officer of the Money Marketeers and the Downtown Economists Club. She has a PhD from NYU's Stern School of Business. She lives in Brooklyn, New York, and has a weekend home on Long Island.
Publications by Carol Stone, CBE
Global| Sep 19 2013U.S. Current Account Deficit Diminishes to 4-Year Low
The U.S. current account deficit decreased In Q2 to $98.9 billion from $104.9 billion in Q1. Q2 had the smallest such deficit since Q3 2009. It represents 2.4% of GDP, and that ratio is the smallest since Q2 1998, that is, 15 years [...]
- Global| Sep 13 2013
U.S. PPI Rises 0.3% in August due to Food and Energy; Core Prices Remain Flat Overall
The producer price index for finished goods rose 0.3% in August (+1.4% y/y) following an unchanged performance during July, which was unrevised. Consensus expectations were looking for a 0.1% rise. Prices excluding food & energy, [...]
- Global| Sep 13 2013
U.S. Consumer Sentiment Falls Unexpectedly - Again
The reading from the Reuters/University of Michigan survey of consumer sentiment during mid-September fell sharply to 76.8 (-1.9% y/y) from an 82.1 final reading for August. Consensus expectations had been for near stability at 82.0. [...]
- Global| Sep 13 2013
U.S. Retail Sales Have Small August Rise, but Durable-Good- Type Stores Generally Firmer
Retail sales rose 0.2% in August (+4.7% y/y), less than in July, but that month and June were both revised modestly higher, July to 0.4% from 0.2% and June to 0.7% from 0.6%. A 0.4% rise had been expected according to Action Economics [...]
- Global| Sep 12 2013
U.S. Initial Claims for Unemployment Insurance Drop to 7-1/2-Year Low; Processing Issues May Have Impacted Report
Initial claims for unemployment insurance in the September 7 week dropped to 292,000 from 323,000 the week before, which was unrevised. The September 7 figure is the first below 300,000 since May 12, 2007, which was 297,000, and is [...]
- Global| Sep 11 2013
U.S. Wholesale Inventories Stabilize in July; Mixed by Industry
Inventories at the wholesale level recovered by 0.1% (+2.2% y/y) during July following a 0.2% fall (unrevised) drop in June and two prior declines. The upturn came in durable goods inventories, which rose 0.6% in July (+4.5% y/y) [...]
- Global| Sep 10 2013
U.S. JOLTS: Job Openings Rate Dips in July
The Bureau of Labor Statistics reported in its July Job Openings & Labor Turnover Survey (JOLTS) that the job openings rate eased in July to 2.6% from 2.8% in June, which was unrevised. The job openings rate is the number of job [...]
- Global| Sep 09 2013
U.S. Consumer Credit Usage Moderates A Bit in July
Consumers increased their credit outstanding by $10.4 billion in July, yielding growth of 5.9% year-on-year. This is modestly less than the $12.5 billion expected in the Action Economics consensus survey and less than the $11.9 [...]
- Global| Aug 15 2013
U.S. Initial Claims Drop to 320K; Pre-Crisis Lows Sustained
Initial claims for unemployment insurance dropped to 320,000 (-12.8% y/y) in the August 10 week from 335,000 the week before, which was initially reported as 333,000. This latest figure is the lowest since October 6, 2007. It compares [...]
- Global| Aug 02 2013
U.S. Personal Income Slows in June; Revisions Raise Saving Rate
Personal income growth moderated in June, with a 0.3% rise (3.1% y/y) after May's 0.4%, which was revised from 0.5% reported before. Consensus forecasts had looked for 0.4% in June. This report is part of the BEA's comprehensive [...]
- Global| Jul 31 2013
U.S. Employment Cost Index Firms in Q2
The employment cost index for private industry workers advanced 0.6% (1.9% y/y) in Q2'13, following an upwardly revised 0.4% increase in Q1. The result was stronger than consensus expectations for 0.4%. Q1 and the prior couple of [...]
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