November Economic Update: There's Just Something About the Holidays
The economy appears to have added a bit more momentum in October. In particular, for the first time in five months, total employment rose from the previous month
Highlights from this month's issue:
- Overview:
- Retail: October’s year-over-year growth rate eased a bit from August and September. Unseasonably warm weather may have dampened demand for some items
- Motor Vehicles: As the economy improves, light trucks sales are again outpacing sales for autos
- Consumer Products: The Federal Reserve’s industrial production index has risen in two of the last three months
- Aerospace & Defense: The series rose in October following two months of declines
- Process & Industrial Products: Machinery production regained momentum, rising in October by the fastest clip since May
- Lodging: Growth rates of 8%+ remain in place for revenue per available room, according to Smith Travel Research
