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Posts Tagged ‘interest rate’

Ranking and Reviewing America’s Top Dozen Exporting States

Tuesday, April 3rd, 2018

Article source: ConstructConnect

This article provides a ranking of America’s Top Dozen States according to their goods export volumes in full year 2017.

Total U.S. goods exports last year amounted to almost one-and-a-half trillion dollars.

Ranking and Reviewing America’s Top Dozen Exporting States Graphic

The background foreign trade data comes from the Census Bureau’s web-based site entitled USA Trade Online. While it’s relatively easy to open a free account, if one is not familiar with ‘pivot tables’, there is a bit of a learning curve to access the statistics.

The type-of-product designations follow the definitions in the North American Industry Classification System (NAICS).

(1) Texas:

Texas, with export shipments of $264.1 billion and a 17.9% share of the nation’s total, was the leader among U.S. states for foreign sales in 2017. The NAICS category at the top of the Lone Star State’s exports list was ‘computer and electronic products’ ($47.0 billion), but close behind were ‘petroleum and coal products’ ($44.0 billion), ‘chemicals’ ($40.0 billion) and ‘oil and gas’ ($32.0). ‘Chemicals’ exports were dominated by synthetic rubber.

While Texas has a high level of computer-product exports, it would be more accurate to say that the State is especially strong in energy-product export sales. Energy products as a catch-all would combine refined petroleum (e.g., gasoline), chemicals, crude oil and natural gas for more than $100 billion.

In 2017, there were substantial increases in oil exports from Texas to China, Canada and South Korea. Other major customers for Texas crude last year were Mexico and Brazil.

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A Bit More Ammunition for a Fed Rate Hike from March’s U.S. Jobs Report

Friday, April 1st, 2016

Article source: CMDGroup

In March, the size of the U.S. labor force rose by nearly 400,000, as many working-age people who were previously on the sidelines jumped back into the job hunt.

As a consequence, the participation rate rose to 63.0%, a climb of 0.3 percentage points since the start of the year’s level of 62.7%.

Both developments are votes of confidence in possible employee prospects. They indicate more out-of-work individuals now feel they have a better shot at finding a welcoming face, corporate or otherwise, to pay them a living.

This notion received a boost from March’s month-to-month gain in the total number of non-farm jobs in the economy, +215,000, as reported by the Bureau of Labor Statistics (BLS).

Furthermore, the total employment increase was widely dispersed among industry categories, with payrolls in ‘education and health’ (+51,000) increasing the most; but with ‘retail trade’ (+48,000) and ‘leisure and hospitality’ (+40,000) not that far behind.

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October’s Jobs Report: Terrific for U.S.; Maybe Marvelous for Canada

Friday, November 6th, 2015

Article source: CMDGroup

There were worries after the issuance of labor market reports for August and September that indicated month-to-month job creation in the U.S. was slowing to +150,000 or less.

October’s data from the Bureau of Labor Statistics (BLS) sends those clouds scurrying away.

The BLS says the latest net increase in jobs was +271,000, the greatest gain in any month so far this year. It lifts the average in 2015, with only November and December still remaining, to +206,000.

While 2014’s monthly average, January to October, was somewhat faster, at +236,000, a figure of +200,000 or higher warrants an enthusiastic response.

America’s jobless rate now sits at 5.0%, a marginal decline from September’s 5.1%, but more significantly down versus October 2014’s 5.7%.

Unless some other statistics on the U.S. economy (e.g., retail trade) come in far worse than expected, the Federal Reserve will now almost assuredly begin to take action on interest rates at the December meeting of its Open Market Committee (FOMC).

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A Dozen Mid-September Economic Nuggets

Thursday, September 17th, 2015

Article source: CMDGroup

September 17 is fast approaching. In fact, by the time you read this, it may already have been and gone. Why is that date so important? Because that’€™s when the next Federal Open Market Committee (FOMC) of the Federal Reserve is scheduled to meet, with an announcement concerning interest rates to follow.

The federal funds rate hasn’€™t been altered from a range of 0.00% to 0.25% since December 16, 2008, nearly seven years ago. In mid-summer of this year, there seemed to be a strong likelihood the Fed would begin shifting yields higher in September. Then world stock markets fell into disarray as growth projections for China’€™s economy were scaled back and the yuan was devalued, slightly.

If the fed temporarily delays pulling the trigger out of concern over fragile world trade, the next FOMC meeting dates to mark on your calendar are October 28 and December 16 of this year and January 27 of 2016. Odds are pretty good that somewhere in that time frame, the fed will initiate tighter credit market action.

The Fed’€™s decision-making will take place against a backdrop that includes the following economic nuggets, as revealed in government reports and through media dissemination.
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