Employment compensation remained sluggish in Q2, although it picked up slightly. The total employment cost index rose 0.4%, following Q1's 0.3% and also a bit better than expectations for 0.3%. However, the improvement came in state [...]
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| Jul 24 2009UK GDP Surprises with 0.8% Fall in Q2
UK forecasters were looking for Q2 GDP to be down 0.3% from Q1, so they were surprised today at the -0.8% preliminary estimate published by ONS. Press reports emphasize the magnitude of the overall decline, 5.6% year-on-year, and 5.7% [...]
- Global| Jul 01 2009
U.S. Construction Spending Holding Steady
Construction outlays fell 0.9% in May, reverting to a decline after April's limp 0.6% increase. That was revised from a 0.8% rise and March was revised to a 0.4% decrease from a 0.4% increase reported last month. This report included [...]
- Global| Dec 12 2008
U.S. Business Inventories Decrease in October, But Sales Plunge, Leaving a Still Larger Overhang
October business inventories dropped 0.6% from September. That month, in turn, was revised from a 0.2% decline to 0.4%. Total business sales -- manufacturers, wholesalers and retailers -- dropped a whopping 3.5% in October, following [...]
- Global| Oct 16 2008
U.S. Weekly Initial Jobless Insurance Claims Fell But Still Near Cycle High
Initial claims for unemployment insurance fell 16,000 in the week ended last Saturday to 461,000 from the prior week's 477,000.The four-week moving average barely changed from 482,500 to 483,250 (+50.2% y/y). The Labor Department [...]
- Global| Oct 15 2008
U.S. Budget Deficit Widens to Record in Fiscal 2008
The U.S. government's budget deficit for fiscal year 2008 widened sharply to $454.8B versus a deficit during FY 2007 of $161.5B. Reversing recent trends of strengthening revenues, the deficit spread resulted from an outright decline [...]
- Global| Oct 15 2008
U.S. Retail Sales Drop 1.2% in September
Retail sales fell 1.2% last month, the Commerce Department reported this morning. Both August and July sales were revised lower, August to a 0.9% decrease from 0.7% reported last month, and July to a 0.1% increase from 0.3% in last [...]
- Global| Oct 15 2008
U.S. Retail Sales Drop 1.2% in September
Retail sales fell 1.2% last month, the Commerce Department reported this morning. Both August and July sales were revised lower, August to a 0.9% decrease from 0.7% reported last month, and July to a 0.1% increase from 0.3% in last [...]
- Global| Sep 18 2008
U.S. Credit Market Borrowing Declines Sharply In Q2
The flows in credit markets in Q2 make us wonder how the US economy grew at all then. Never in the history of the Federal Reserve's Flow-of-Funds data has there been such a sudden dramatic plunge in credit demand. Domestic [...]
- Global| Aug 21 2008
U.S. Leading Indicators Dragged Down by Building Permits, Jobless Claims
The composite index of leading economic indicators, reported by the Conference Board fell 0.7% in July after being unchanged in June (revised from -0.1%). Forecasts had anticipated only a 0.2% decline. Last month the drop in building [...]
- Global| Aug 21 2008
Philadelphia Fed Index: Less Weakness
The Philadelphia Federal Reserve Bank reported that its Index of General Business conditions in the manufacturing sector "recovered" somewhat in August to -12.7 from -16.3 in July. This was a bit more improvement than forecast by [...]
- Global| Aug 21 2008
U.S. Initial Jobless Claims Ease for a Second Week; Supplemental Program Reaches 1.3 Million
Initial claims for unemployment insurance fell last week to 432,000 from 445,000 during the prior week. Consensus expectations had envisioned a slightly smaller decrease. Claims for both last week and the week before were revised [...]
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