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Tag: Economics

NEMA Lighting Division efforts bear fruit in California

NEMA Lighting Division efforts bear fruit in California

This week the State of California Public Utilities Commission (CPUC) approved and published their Strategic Lighting Plan, which was two years in the making. NEMA staff and members participated directly in the development and drafting of the SLP from start to finish to provide the manufacturer perspective in effort to balance out the advocates and regulators, and to serve as…

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More Signs of Gloom

More Signs of Gloom

Approximately once every six weeks, the Federal Reserve published the Beige Book, which contains a collection of anecdotal reports of local economic conditions within the 12 regional Fed districts. In general, this report is not given a lot of fanfare, but during times like these any new piece of information that can offer insight about the economy’s trajectory is near…

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Affordable Energy Media Campaign

Affordable Energy Media Campaign

This is a press release issued by NAM today directly from John Engler, President and CEO. Congress returns from its summer recess next week, and high on the agenda will be proposals from President Obama and congressional leadership to raise taxes on America’s energy sector. These potential tax increases would cause serious damage to the manufacturing sector, job creation and…

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Still Limping Along

Still Limping Along

The August employment report shows an economy that continues to struggle to gain any momentum. Net job creation totaled a meager 60,000 last month (when one excludes the loss of temporary decennial census positions) and the unemployment rate crept higher to 9.6 percent. While a 60K average upward revision for June and July payroll data was a positive, employers have…

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House of Cards

House of Cards

Now that the distorting effects of the federal homebuyer tax credits have worked their way through the system, demand is deteriorating and the market appears to be retrograding toward an eventual equilibrium at a lower price level. Sales of existing single-family homes fell by more than 27 percent during July, reaching their lowest level since May 1995. For new single-family…

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Diamond in the Rough (or just A Shiny Piece of Coal?)

Diamond in the Rough (or just A Shiny Piece of Coal?)

Amidst all the growing concerns over a double-dip recession, the manufacturing sector has stood out as one of the U.S. economy’s strongest performers. In fact, manufacturing has been the only major sector to come anywhere close to textbook V-shaped recovery. That good fortune continued during July, with industrial output surging 1.1 percent from the prior month and roughly 8 percent…

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The Summertime Blues Continue

The Summertime Blues Continue

Consumer spending, or a lack thereof, has been one of the key missing elements to the economic recovery. Unfortunately, that trend continued in July as core retail sales (excluding autos and gasoline) slipped for the second time in the last three months. Of course, any rebound in consumer spending is going to be muted by the fact that households are:…

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Is the Recovery Stuck in Neutral?

Is the Recovery Stuck in Neutral?

That might be the conclusion one could draw given what was contained in the July employment report. Excluding the loss of 143,000 temporary Census 2010 jobs, payrolls registered a meager net increase of 12,000 in July while June’s initial estimate for ex-Census employment was revised significantly lower to only +4,000. Of course, this isn’t the final story since both of…

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Sifting for Gold

Sifting for Gold

Today’s first take on real GDP growth for 2010Q2 showed the U.S. economy expanded at an annualized rate of 2.4 percent and 3.2 percent in the past year. This is roughly in line with the average rate of real GDP growth during the post-WWII era, but given the fact that growth tends to be above-average during the earliest stages of…

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What’s next now that the punch bowl is empty?

What’s next now that the punch bowl is empty?

The bad news for the housing market continues to mount (see here, here and here). The dreaded payback effect from the homebuyer tax credit is causing sales to look particularly weak right now. However, the excess supply situation, which has been a big issue for several years already, will continue to hinder the market’s recovery as foreclosures pile up and…

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