Note: Inflation is not a concern with the COVID-19.Friday:• At 8:30 AM, The Consumer Price Index for March from the BLS. The consensus is for 0.3% decrease in CPI, and a 0.1% increase in core CPI.
Musing About Economics, Computers and Technology
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Test-and-trace is a key criteria in starting to reopen the country. My current guess is test-and-trace will require around 300,000 tests per day at first since the US is far behind the curve. Some scientists believe we need around 800,000 tests per day.Note: I read that Germany is doing…
From the University of Michigan: Preliminary Results for April 2020 Consumer sentiment plunged 18.1 Index-points in early April, the largest monthly decline ever recorded. When combined with last month’s decline, the two-month drop of 30.0 Index-points was 50% larger than the prior record. Of the two Index components, the Current…
University of Michigan: Largest Decline on Record for Consumer Sentiment
From HotelNewsNow.com: STR: US hotel results for week ending 4 April Reflecting the continued impact of the COVID-19 pandemic, the U.S. hotel industry reported significant year-over-year declines in the three key performance metrics during the week of 29 March through 4 April 2020, according to data from STR.In comparison with…
Hotels: Occupancy Rate Declined 68.5% Year-over-year to All Time Record Low
The DOL reported:In the week ending April 4, the advance figure for seasonally adjusted initial claims was 6,606,000, a decrease of 261,000 from the previous week’s revised level. The previous week’s level was revised up by 219,000 from 6,648,000 to 6,867,000. The 4-week moving average was 4,265,500, an increase of…
CR Note: The focus this week will be on weekly unemployment claims, and the consensus is probably low. Once weekly claims decline from these stratospheric levels, the focus will shift to continued claims.Wednesday:• At 8:30 AM, The initial weekly unemployment claims report will be released. The consensus is for a…
Note: the large increase last Saturday in test results reported was due to California working through the backlog of pending tests.Test-and-trace is a key criteria in starting to reopen the country. My current guess is test-and-trace will require around 300,000 tests per day at first since the US is…
Note: The expansion to the Panama Canal was completed in 2016 (As I noted a few years ago), and some of the traffic that used the ports of Los Angeles and Long Beach is probably going through the canal. This might be impacting TEUs on the West Coast.Container traffic gives…
From the Fed: Minutes of the Federal Open Market Committee, March 15, 2020. A few excerpts: All participants viewed the near-term U.S. economic outlook as having deteriorated sharply in recent weeks and as having become profoundly uncertain. Many participants had repeatedly downgraded their outlook of late in response to the…
This is mostly prior to the collapse in oil prices and the impact of COVID-19. Closed sales in March are for contracts that were mostly signed in January and February.From the HAR: Strong sales momentum through mid-March helps offset COVID-19’s market impact later in the monthAs COVID-19 ravages the physical…
Houston Real Estate in March: Sales up 6.9% YoY, Inventory Up 2.6% YoY
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