The 2015 Mid-Year Economic Update
|
|
- Roxanne McKenzie
- 6 years ago
- Views:
Transcription
1 Download slides here at or The 2015 Mid-Year Economic Update Brian Lewandowski and Thomas P. Gale June 18, 2015 Produced by: Sponsored by:
2 Download slides here at or Agenda Introduction Macroeconomic Overview Brian Lewandowski 2015 Economic Benchmarks for Wholesale Distribution Thomas P. Gale Q&A Produced by: Sponsored by:
3 2015 Economic Benchmarks for Wholesale Distribution Discount Code: EBWD15 (Offer valid through July 2, 2015) Save 10% on these reports Analysis of 18 sectors (available for individual sale) Apparel & Piece Goods Agricultural Products Beer, Wine & Liquor Building Materials & Construction Chemicals & Plastics Commercial Equipment & Supplies Computer Equipment & Software Electrical & Electronics Furniture & Home Furnishings Grocery & Foodservice Hardware, Plumbing & Heating Equipment/Supplies Industrial Metal Service Centers Miscellaneous Durable Goods Motor Vehicle & Motor Vehicle Parts Office Products Oil & Gas Other Consumer Products
4 2015 Economic Benchmarks for Wholesale Distribution Discount Code: EBWD15 (Offer valid through July 2, 2015) Save 10% on these reports Analysis of 18 sectors (available for individual sale) Trend Data Revenues, Inventories, Inventory-to-Sales Ratio, Total Employment, Average Annual Revenues per Employee and Average Weekly Earnings Sector Summary 2014 Revenues, Percent of Industry Revenues, No. of Companies and Average Gross Margin Summary Trend Data 2014 Actual Revenues, 2014 Real Revenues, Revenue Gap and 2014 Q4 Employment Revenue Forecasts for 2015 & 2016 Sector Growth vs. U.S. GDP Growth :Q1 to 2014:Q4 Employment Size Distribution Actual Revenue Growth Quarterly 2004 to Present Real Revenue Growth Quarterly 2004 to Present Employment Growth Quarterly 2004 to Present Inventory-to-Sales Ratio 3-Month Moving Average with Trendline
5 Download slides here at or Speakers Brian Lewandowski Associate Director at the Business Research Division of the Leeds School of Business at the University of Colorado Boulder Thomas P. Gale President and CEO of Gale Media, Inc., and publisher of Modern Distribution Management and mdm.com Produced by: Sponsored by:
6 Epicor Value Proposition Company Founded in 1972 Nearly $1B Revenue* ~ 4,600 employees worldwide, 400 partners Customers Customer-centric focus Standard tiered solution to global enterprises Over 20,000 customers Products End-to-end solutions focused by industry Manufacturing, retail, distribution, services World-class functionality Technology Leading business software company based on Microsoft.NET and Web services architecture Solutions designed for flexibility, extensibility and scalability Services Single point accountability with direct global sales and support Supporting customers in 150+ countries, 30+ languages Proven rapid ROI and low TCO Epicor Software Corporation
7 Epicor as a Partner to Distributors Experience Market Share #1 Mid Market 52% Of Our Revenue 42 Years 34% Industrial Big 50 49% Supply Times Premier 150 9,000 Customers 10.5 Years Avg. Tenure of Distribution Experience 56% Electrical Top % Wholesaler Top Epicor Software Corporation
8 The 2015 Mid-Year Economic Update: Positive Prospects for the Industry Place cover image here Brian Lewandowski Associate Director, Business Research Division June 18, 2015
9 Economic Benchmarks for Wholesale Distribution and the Economic Outlook Today s Discussion Economic outlook Sales and inventory trends Specific industries Highlights from the 2015 Economic Benchmarks report About the Economic Benchmarks for Wholesale Distribution report data Foundational data from U.S. Census Bureau, Bureau of Labor Statistics and Bureau of Economic Analysis Based on latest Wholesale Trade Survey and Economic Census Include revenue growth forecasts
10 Core Wholesale Distribution Revenue Growth YoY Percent Change 15.0% 10.0% 5.0% 0.0% -5.0% -10.0% -15.0% -20.0% Note: Core excludes the agriculture and the oil and gas sectors.
11 Summary of 2014 Performance by Sector Major Sector (Largest to Smallest Sector Revenues) Actual Revenues (2014) Real Revenues* (2014) Revenue Gap (Actual - Real) Oil and Gas Products Wholesale Distributors 1.3% 6.9% -5.7% Grocery and Foodservice Wholesale Distributors 7.0% 3.4% 3.6% Pharmaceutical Wholesalers 12.7% 6.9% 5.8% Industrial Distributors 10.7% 9.1% 1.6% Electrical and Electronics Wholesalers 5.2% 5.5% -0.3% Motor Vehicles and Motor Vehicle Parts Wholesale Distributors 4.9% 4.3% 0.6% Computer Equipment and Software Wholesale Distributors 3.9% 6.1% -2.3% Other Consumer Products Wholesale Distributors -1.5% -1.4% 0.0% Agricultural Products Wholesale Distributors -3.0% 10.6% -13.6% Miscellaneous Durable Goods Wholesale Distributors -2.3% -3.1% 0.8% Commercial Equipment and Supplies Wholesale Distributors 5.9% 6.8% -0.9% Metal Service Centers 11.6% 10.1% 1.4% Apparel and Piece Goods Wholesale Distributors 9.6% 9.1% 0.4% Chemicals and Plastics Wholesale Distributors 5.8% 6.1% -0.3% Beer, Wine and Liquor Wholesalers 2.6% 1.7% 0.9% Building Material and Construction Wholesale Distributors 6.2% 1.9% 4.3% Hardware, Plumbing, and Heating Equipment/Supplies Wholesalers 5.1% 3.7% 1.4% Office Product Wholesalers and Paper Merchants 6.0% 4.4% 1.6% Furniture and Home Furnishing Wholesale Distributors 5.9% 3.0% 2.9% Total 5.1% 5.4% -0.3%
12 GDP and Potential GDP Trillions, Month-over- Month 22.0 Recession Months Recession 18 Months Potential GDP Actual Projected GDP Sources: Congressional Budget Office, Budget and Economic Outlook; Bureau of Economic Analysis.
13 Real GDP Growth Percent Quarterly and Annualized Real GDP Annualized GDP Annualized GDP Quarterly GDP Sources: Bureau of Economic Analysis and February 2013 NABE Forecast.
14 National Employment Monthly Change Thousands, Month-over-Month Recession 8 Months Recession 18 Months Sources: Bureau of Labor Statistics (Seasonally Adjusted), National Bureau of Economic Research, and NABE Outlook February 2013.
15 National Employment Months to Recovery Percent 3.0% 2.0% 1.0% 0.0% Present -1.0% -2.0% -3.0% -4.0% -5.0% -6.0% -7.0% Number of Months Since Peak Source: Bureau of Labor Statistics (Seasonally Adjusted).
16 National Employment Months to Recovery Percent 20.0% 15.0% 10.0% % 0.0% Present -5.0% -10.0% Number of Months Since Peak Source: Bureau of Labor Statistics (Seasonally Adjusted).
17 National Employment Growth Prerecession Peak-to-May 2015 Source: Bureau of Labor Statistics, Seasonally Adjusted.
18 Labor Underutilization Percentage of Labor force % 5.5% Source: Bureau of Labor Statistics (Seasonally Adjusted).
19 Labor Underutilization Percentage of Labor force % 10.8% U-6 U-5 U-4 U-3 U-2 U Source: Bureau of Labor Statistics (Seasonally Adjusted).
20 Initial and Continuing Claims Continuing Claims 7,000,000 Initial Claims 700,000 6,000,000 5,000,000 4,000,000 Initial Claims Continuing Claims 600, , ,000 3,000,000 Average Initial Claims 300,000 2,000, ,000 1,000, , Source: Bureau of Labor Statistics.
21 Job Gains by Wholesale Distribution Sector Grocery and Foodservice Wholesaler- Distributors Electrical and Electronics Wholesalers Pharmaceutical Wholesalers Other Consumer Products (periodicals, tobacco + florist) Wholesalers Agricultural Products Wholesalers Computer, Commercial and Medical Equipment Wholesalers and Distributors Office Product Wholesalers and Paper Merchants Chemicals and Plastics Distributors Plumbing and HVAC Wholesalers Motor Vehicle Aftermarket Parts and Supplies Wholesalers Building Material Wholesalers and Distributors Apparel Wholesalers Metal Service Centers Beer, Wine and Liquor Wholesaler-Distributors Industrial Distributors Furniture and Home Furnishings Wholesalers Sporting Goods, Toys/Hobby and Jewelry Wholesaler-Distributors Oil and Gas Products Wholesalers Computer and Computer Peripheral Equipment and Software 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% Percent Change Source: Bureau of Labor Statistics (Seasonally Adjusted).
22 Jobs Deficit by Wholesale Distribution Sector From Pre-recession Peak Computer, Commercial and Medical Equipment Wholesalers Computer and Computer Peripheral Equipment and Software Sporting Goods, Toys/Hobby and Jewelry Wholesaler-Distributors Building Material Wholesalers and Distributors Other Consumer Products Wholesalers Office Product Wholesalers and Paper Merchants Pharmaceutical Wholesalers Electrical and Electronics Wholesalers Beer, Wine and Liquor Wholesaler-Distributors Apparel Wholesalers Industrial Distributors Motor Vehicle Aftermarket Parts and Supplies Wholesalers Chemicals and Plastics Distributors Grocery and Foodservice Wholesaler- Distributors Oil and Gas Products Wholesalers Furniture and Home Furnishings Wholesalers Plumbing and HVAC Wholesalers Agricultural Products Wholesalers Metal Service Centers Thousands Source: Bureau of Labor Statistics (Seasonally Adjusted).
23 Household Wealth $ Billions 105,000 90,000 75,000 Other Assets 60,000 45,000 Financial Assets 30,000 15,000 0 Real Estate -15,000 1Q 2000 Liabilities 1Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q 2015 Source: Federal Reserve Board, Balance Sheet of Households and Nonprofit Organizations (B100) (Not Seasonally Adjusted).
24 S&P 500 2,400 2,200 +8% 2,000 1,800 1,600 1,400 1,200 1, % +210% Source: Bloomberg.
25 Index of Consumer Confidence 1985= Recession 8 months Recession 8 months Recession 18 months Sources: The Conference Board and National Bureau of Economic Research.
26 U.S. Income and Consumption Percent Change 4.0 Disposable Personal Income 3.4% Percent Change 4.0 Personal Consumption % % 2.9% Sources: Bureau of Economic Analysis and Blue Chip Economic Indicators.
27 Vehicle Sales and Retail Sales Thousands, SAAR 25,000 Vehicle Sales Retail and Food Services Sales Annual Percent Change , ,000 10,000 5, Sources: Autodata Corp., Motor Intelligence, U.S. Census Bureau (Seasonally Adjusted Annual Rate).
28 Household Debt Burden Percent of Disposable Income DSR Debt Service Ratio (L) Financial Obligations Ratio (R) FOR Source: Federal Reserve, Household Debt Service and Obligations Ratios.
29 S&P/Case-Shiller Home Price Indices 1-year Home Price Change, April 2015 Washington Cleveland New York Phoenix Minneapolis Chicago Detroit San Diego Boston Charlotte Atlanta Las Vegas Los Angeles Tampa Portland Seattle Dallas Miami San Francisco Denver 0% 2% 4% 6% 8% 10% 12% Percent Change Source: Standard & Poor s (Not Seasonally Adjusted).
30 National FHFA Home Price Growth Year-over-Year Q Source: Federal Housing Finance Agency Home Price Index, All Transactions Index.
31 Housing Affordability Index Composite Source: National Association of Realtors, Composite Index.
32 Houses For Sale and Months' Supply New SF Home Inventory (thousands) SF Homes for Sale Housing Supply Months of Supply Source: New Houses Sold and For Sale, U.S. Census Bureau.
33 Total Employment v. Construction Percent 15.0% 10.0% Oil and Gas Extraction 5.0% 0.0% Total -5.0% -10.0% Construction -15.0% -20.0% Number of Months Since Peak Source: Bureau of Labor Statistics.
34 U.S. Building Permits Seasonally Adjusted Annual Rate Thousands 2, % 2,000 Multifamily MF Share (Right Axis) 50.0% 1,500 1, Single Family 40.0% 30.0% 20.0% 10.0% % Source : U.S. Census Bureau, New Privately Owned Housing Units Authorized by Building Permits in Permit-Issuing Places (SAAR).
35 National Housing Starts Millions Sources: U.S. Census Bureau and Consensus Forecasts.
36 ISM Indices 70.0 ISM Manufacturing Index 70 ISM Non-Manufacturing Index Source: Institute for Supply Management (ISM).
37 U.S. Nominal Broad Dollar Index and Real Net Exports U.S. Nominal Broad Dollar Index 1973= $ Billions Real Net Exports $544 -$ Sources: Federal Reserve, Bureau of Economic Analysis, and Consensus Forecasts.
38 Inventory $Millions Core Wholesale Distribution Nominal Inventory Value 3-Mo. Moving Ave Core Wholesale Distribution Inventory-to-Sales Ratio 550, , , , , , , , , , ,
39 The FED QE 1 $ Millions 5,000,000 QE 2 Fed promises near zero interest rates until mid-2013, 2014, 2015, 2016? Operation Twist 4,500,000 4,000,000 3,500,000 3,000,000 2,500,000 2,000,000 1,500,000 Other Assets Mortgage Backed Securities Federal Agency Debt Securities Treasury Securities Swaps Tapering 1,000, , Source: Federal Reserve Balance Sheet.
40 Interest Rates Percent 9.0 Interest Rates, Year T-Note Month T-Bill Sources: U.S. Treasury.
41 Commercial Crude Oil Storage Millions of Barrels June 5, 2015: Average Source: Energy Information Association (EIA), Weekly U.S. Ending Stocks excluding SPR of Crude Oil.
42 WTI Oil Price Dollars per Barrel $ $ $ July 3, 2008: $ June 9, 2014: $ $ $80.00 Average $60.00 $40.00 June 8, 2015: $58.15 $20.00 $ Source: Energy Information Association (EIA), Cushing, OK WTI Spot Price FOB.
43 Henry Hub Natural Gas Spot Price Dollars per Million BTU $16.00 $14.00 $12.00 July 4, 2008: $13.20 $10.00 $8.00 $6.00 $4.00 $2.00 Average Average June 6, 2014: $4.61 June 5, 2015: $2.65 $ Source: Energy Information Association (EIA), Weekly Henry Hub Natural Gas Spot Price (Dollars per Million Btu).
44 National Gasoline Prices Dollars per Gallon $4.50 $4.00 $3.50 Average $3.00 June 16, 2014: $3.76 $2.50 $2.00 $1.50 June 15, 2015: $2.92 $1.00 $0.50 $ Source: Weekly Colorado All Grades All Formulations Retail Gasoline Prices (Dollars per Gallon).
45 WTI Oil Price Forecast Dollars per Barrel $ $ $80.00 $60.00 $40.00 Historical Price EIA Forecast Lower CI Upper CI Moody's Forecast $20.00 $ Source: Energy Information Association (EIA), SPEO, Cushing, OK WTI, Moody s Analytics.
46 Thank You
47 2014 Wholesale Distribution Industry Performance Measure Value % chng Industry revenues ($B), 2014:Q4 $1, % Industry revenues ($B), 2014 $5, % Total Employment, 2014:Q4 4,963, % Avg. annual revenues per emp. $1,095, % % change vs. previous year Source: 2015 Economic Benchmarks for Wholesale Distribution 2015 Gale Media, Inc. All Rights Reserved.
48 Select Sector Performance/Forecast % change vs. previous year Major Sector 2014 Actual Revenue 2015 Forecast 2016 Forecast Industrial 10.7% Electrical/Electronics 5.2% Oil & Gas 6.3% Bldg Material/Construction 6.2% Hardware, Plumbing & HVAC 5.1% 8.3% 7.0% -22.4% 9.9% 8.6% 9.0% 9.0% 24.8% 14.7% 10.2% Source: 2015 Economic Benchmarks for Wholesale Distribution 2015 Gale Media, Inc. All Rights Reserved.
49 2015 Economic Benchmarks for Wholesale Distribution Discount Code: EBWD15 (Offer valid through July 2, 2015) Save 10% on these reports Analysis of 18 sectors (available for individual sale) Apparel & Piece Goods Agricultural Products Beer, Wine & Liquor Building Materials & Construction Chemicals & Plastics Commercial Equipment & Supplies Computer Equipment & Software Electrical & Electronics Furniture & Home Furnishings Grocery & Foodservice Hardware, Plumbing & Heating Equipment/Supplies Industrial Metal Service Centers Miscellaneous Durable Goods Motor Vehicle & Motor Vehicle Parts Office Products Oil & Gas Other Consumer Products
50 2015 Economic Benchmarks for Wholesale Distribution Discount Code: EBWD15 (Offer valid through July 2, 2015) Save 10% on these reports Analysis of 18 sectors (available for individual sale) Trend Data Revenues, Inventories, Inventory-to-Sales Ratio, Total Employment, Average Annual Revenues per Employee and Average Weekly Earnings Sector Summary 2014 Revenues, Percent of Industry Revenues, No. of Companies and Average Gross Margin Summary Trend Data 2014 Actual Revenues, 2014 Real Revenues, Revenue Gap and 2014 Q4 Employment Revenue Forecasts for 2015 & 2016 Sector Growth vs. U.S. GDP Growth :Q1 to 2014:Q4 Employment Size Distribution Actual Revenue Growth Quarterly 2004 to Present Real Revenue Growth Quarterly 2004 to Present Employment Growth Quarterly 2004 to Present Inventory-to-Sales Ratio 3-Month Moving Average with Trendline
51 Download slides here at or Thank you! Questions? June 18, 2015 Produced by: Sponsored by:
52 Download slides here at or The 2015 Mid-Year Economic Update Brian Lewandowski and Tom Gale June 18, 2015 Produced by: Sponsored by:
2016 Mid-Year Economic Update
2016 Mid-Year Economic Update Featuring: Brian Lewandowski, University of Colorado Boulder Jenel Stelton-Holtmeier, Modern Distribution Management Sponsored by: June 14, 2016 Introduction Macroeconomic
More information10 County Conference. Richard Wobbekind. Executive Director Business Research Division & Senior Associate Dean Leeds School of Business
10 County Conference Richard Wobbekind Executive Director Business Research Division & Senior Associate Dean Leeds School of Business Hmm... (http://myfallsemester.blogspot.com) Real GDP Growth Percent
More informationDr. Richard Wobbekind Executive Director, Business Research Division and Senior Associate Dean for Academic Programs University of Colorado Boulder
Dr. Richard Wobbekind Executive Director, Business Research Division and Senior Associate Dean for Academic Programs University of Colorado Boulder Member FDIC VectraBank.com Economic Outlook 2015 Richard
More informationwww.colorado.edu/leeds/brd CAREER ADVANCING DEGREES FROM LEEDS EVENING MBA PROGRAM FOR WORKING PROFESSIONALS #1 PART-TIME MBA Program in Colorado according to U.S. News & World Report Engage in a collaborative
More informationBig Changes, Unknown Impacts
Big Changes, Unknown Impacts Boulder Economic Forecast Place cover image here Richard Wobbekind Senior Economist and Associate Dean for Business and Government Relations January 17, 2018 Real GDP Growth
More informationWhat s Ahead for The Colorado Economy?
What s Ahead for The Colorado Economy? Colorado Counties Inc. Place cover image here Richard Wobbekind Senior Economist and Associate Dean for Business and Government Relations November 28, 2017 Real GDP
More information2014 Economic Forecast: Boulder & Beyond. Keynote Presentation
2014 Economic Forecast: Boulder & Beyond Keynote Presentation Business Research Division Richard Wobbekind Executive Director Business Research Division & Senior Associate Dean Leeds School of Business
More informationMore of the Same; Or now for Something Completely Different?
More of the Same; Or now for Something Completely Different? C2ER Place cover image here Richard Wobbekind Chief Economist and Associate Dean for Business and Government Relations June 14, 2017 Real GDP
More information2019 Economic Outlook: Will the Recovery Ever End?
2019 Economic Outlook: Will the Recovery Ever End? Advantage Bank Place cover image here Richard Wobbekind Senior Economist and Associate Dean for Business and Government Relations November 15 th, 2018
More informationThe U.S. Economy How Serious A Downturn? Nigel Gault Group Managing Director North American Macroeconomic Services
The U.S. Economy How Serious A Downturn? Nigel Gault Group Managing Director North American Macroeconomic Services Growth Is Cooling; But a Soft Landing Is Likely (Real GDP, annualized rate of growth)
More informationHow Much Wind Is in the Sails?
How Much Wind Is in the Sails? Erie Chamber of Commerce Place cover image here Richard Wobbekind Senior Economist and Associate Dean for Business and Government Relations September 20, 2017 Real GDP Growth
More informationColorado Economic Update
Colorado Economic Update Steamboat Economic Summit Place cover image here Brian Lewandowski Associate Director, Business Research Division October 21, 2016 Recession 8 Months Recession 18 Months Real GDP
More informationTHE MOST INFORMATIVE EVENT COVERING REAL ESTATE INVESTMENTS
THE MOST INFORMATIVE EVENT COVERING REAL ESTATE INVESTMENTS 2014 U.S. Economic, Capital Markets, and Retail Market Overview and Outlook Retail Trends 2014 U.S. Economic Overview and Outlook Total Employment
More informationReal GDP Growth Quarterly Real GDP
Real GDP Growth Quarterly Real GDP Percent Change, SAAR 10.0 8.0 6.0 4.0 2.0 0.0-2.0-4.0-6.0-8.0-10.0 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014 2016 Sources: Bureau of Economic Analysis
More informationColorado Counties Treasurers Association
Colorado Counties Treasurers Association Place cover image here Richard Wobbekind Executive Director, Business Research Division June 21, 2016 Real GDP Growth Quarterly and Annualized Real GDP 1990-2016
More informationCarol Tomé CFO and Executive Vice President, Corporate Services
Carol Tomé CFO and Executive Vice President, Corporate Services Financial Overview December 6, 2017 1 Discussion Overview Fiscal 2017 Financial Guidance Our View of the Economy and State of the U.S. Housing
More informationEconomic Outlook March Economic Policy Division
Economic Outlook March 212 Economic Policy Division Real GDP Outlook Percent Change, Annual Rate 2 1 1 - -1 197 197 198 198 199 199 2 2 21 U.S. GDP Actual and Potential Quarterly, Q1 197 to Q4 211 Real
More informationMAINTAINING MOMENTUM:
MAINTAINING MOMENTUM: 2018 National Economic Update September 12, 2018 noun mo men tum \ mō-ˈmen-təm, mə- \ 1 b : the strength or force that allows something to continue or to grow stronger or faster as
More informationU.S. Economic and Apartment Market Overview and Outlook. July 15, 2014
2014 U.S. Economic and Apartment Market Overview and Outlook July 15, 2014 U.S. Economic Overview U.S. GDP Growth Persistent Despite 1Q Polar Vortex Annualized Quarterly Percent Change 10% 5% 0% -5% -10%
More informationEconomy On The Rebound
Economy On The Rebound Robert Johnson Associate Director of Economic Analysis November 17, 2009 robert.johnson@morningstar.com (312) 696-6103 2009, Morningstar, Inc. All rights reserved. Executive
More informationThe U.S. Economic Outlook
The U.S. Economic Outlook Presented to: Maquiladora Industry Outlook Conference September 29 2006 Presented by: Patrick Newport Principal, U.S. Macroeconomic Service 781-301-9125 patrick.newport@globalinsight.com
More information10 County Conference. Richard Wobbekind. Executive Director Business Research Division & Senior Associate Dean Leeds School of Business
10 County Conference Richard Wobbekind Executive Director Business Research Division & Senior Associate Dean Leeds School of Business Real GDP Growth Percent Quarterly and Annualized Real GDP 1990-2014
More informationThe Houston Economy Jesse Thompson Regional Business Economist The Federal Reserve Bank of Dallas, Houston Branch January 2017
The Houston Economy Jesse Thompson Regional Business Economist The Federal Reserve Bank of Dallas, Houston Branch January 2017 Image from http://peoplesguidetohouston.wordpress.com/category/uncategorized/
More informationU.S. Overview. Gathering Steam? Tuesday, October 1, 2013
U.S. Overview Gathering Steam? Tuesday, October 1, 2013 Uneven global economic recovery Annual real GDP growth projections (%) Projections 2013 2014 World 3.1 3.1 3.8 United States 2.2 1.7 2.7 Euro Area
More informationEconomic Growth in the Trump Economy
Economic Growth in the Trump Economy Presented to State Data Center Conference William F. Fox, Director November 18, 2016 GDP Grows, Though Slowly 10.0 8.0 Percentage Change, Previous Qtr, SAAR 6.0 4.0
More informationBob Costello Chief Economist & Vice President American Trucking Associations. Economic & Motor Carrier Industry Trends. September 10, 2013
Bob Costello Chief Economist & Vice President American Trucking Associations Economic & Motor Carrier Industry Trends September 10, 2013 The Freight Economy Washington continues to be a headwind on economic
More information11 th Annual Oregon Economic Forum!
11 th Annual Oregon Economic Forum! (almost) Beyond! Macroeconomics Portland, OR! October 16, 2014! Expansion Continues! Five Years and More!! Recession Indicators Nonfarm Payrolls Real Personal Income
More informationcolorado.edu/business/brd
colorado.edu/business/brd Big Changes, Unknown Impacts Southwest Business Forum Place cover image here Richard Wobbekind Senior Economist and Associate Dean for Business and Government Relations January
More informationKevin Thorpe Financial Economist & Principal Cassidy Turley
Kevin Thorpe Financial Economist & Principal Cassidy Turley Economic & Commercial Real Estate Outlook Kevin Thorpe, Chief Economist 2012 Another Year Of Modest Improvement 2006Q1 2006Q3 2007Q1 2007Q3 2008Q1
More informationPHILADELPHIA HOUSE PRICE INDICES
PHILADELPHIA HOUSE PRICE INDICES February 13, 2017 KEVIN C. GILLEN, Ph.D. Kevin.C.Gillen@Drexel.edu Disclaimers and Acknowledgments: The Lindy Institute for Urban Innovation at Drexel University provides
More informationNational and Virginia Economic Outlook Professor Robert M. McNab Dragas Center for Economic Analysis and Policy Strome College of Business
National and Virginia Economic Outlook Professor Robert M. McNab Dragas Center for Economic Analysis and Policy Strome College of Business October 24, 2018 The forecasts and commentary do not constitute
More informationThe Economic Outlook. Economic Policy Division
The Economic Outlook Economic Policy Division Glass Half Full Six plus years of moderate growth Real GDP Outlook Percent Change, Annual Rate 10 5 0-5 -10 1980 1985 1990 1995 2000 2005 2010 2015 Glass Half
More informationTelling Canada s story in numbers Elizabeth Richards Analytical Studies Branch April 20, 2017
Recent Developments in the Canadian Economy: How have the decline in oil prices and a weaker Canadian dollar affected Canada s economy? www.statcan.gc.ca Telling Canada s story in numbers Elizabeth Richards
More informationPHILADELPHIA HOUSE PRICE INDICES
PHILADELPHIA HOUSE PRICE INDICES July 20, 2017 KEVIN C. GILLEN, Ph.D. Kevin.C.Gillen@Drexel.edu Disclaimers and Acknowledgments: The Lindy Institute for Urban Innovation at Drexel University provides this
More informationTexas Economic Outlook: Recovery in 2010 Keith Phillips Federal Reserve Bank of Dallas San Antonio Office
Texas Economic Outlook: Recovery in 2010 Keith Phillips Federal Reserve Bank of Dallas San Antonio Office The views expressed in this presentation are strictly those of the author and do not necessarily
More informationYour Texas Economy. Current through: Tuesday, Nov 20, 2018
Your Texas Economy Current through: Tuesday, Nov 20, 2018 Overview of Texas Economy The Texas economy is growing robustly in 2018 2018 job growth through October is 2.9 percent annualized compared to 2.1
More informationThe Global Economy: Sustaining Momentum
The Global Economy: Sustaining Momentum David J. Stockton Senior Fellow Peterson Institute for International Economics Chief Economist Monetary Policy Analytics October 5, 2017 What s Driving the Global
More informationFrom Recession to Recovery
From Recession to Recovery Monday, April 26, 2010 8:00 AM - 9:15 AM Moderator Michael Klowden, President and CEO, Milken Institute Speakers Mohamed El-Erian, CEO and Co-Chief Investment Officer, Pacific
More informationBob Costello Chief Economist & Vice President American Trucking Associations. Economic & Motor Carrier Industry Update.
Bob Costello Chief Economist & Vice President American Trucking Associations Economic & Motor Carrier Industry Update February 26, 2013 The Worst Recession Since the Great Depression 0% Loss from Peak
More informationThe Houston Economy Jesse Thompson Regional Business Economist The Federal Reserve Bank of Dallas, Houston Branch February 2017
The Houston Economy Jesse Thompson Regional Business Economist The Federal Reserve Bank of Dallas, Houston Branch February 2017 Image from http://peoplesguidetohouston.wordpress.com/category/uncategorized/
More informationWill 2016 Be the Last Hurrah for Commercial Real Estate? Presented By: John Chang First Vice-President Marcus & Millichap Research Services
Will 2016 Be the Last Hurrah for Commercial Real Estate? Presented By: John Chang First Vice-President Marcus & Millichap Research Services Rising Uncertainty Creating Headwinds for Commercial Real Estate
More informationPHILADELPHIA HOUSE PRICE INDICES
PHILADELPHIA HOUSE PRICE INDICES January 15, 2015 KEVIN C. GILLEN, Ph.D. Kevin.C.Gillen@Drexel.edu Disclaimers and Acknowledgments: The Lindy Institute for Urban Innovation at Drexel University provides
More informationCanadian Teleconference: Can the Canadian Economy Survive the Turmoil in the United States?
Canadian Teleconference: Can the Canadian Economy Survive the Turmoil in the United States? Nigel Gault Chief U.S. Economist Dale Orr Canadian Macroeconomic Services Copyright 2008 Global Insight, Inc.
More informationNational Housing Trends
National Housing Trends 34% America s Choice of Best Long Term Investment 26% 17% 15% 6% Real Estate Stocks / Mutual Funds Gold Savings Accounts / CDs Bonds Gallup 2018 Housing Affordability 197 Index
More informationMuhlenkamp & Company. Webinar December 1, Ron Muhlenkamp, Portfolio Manager Jeff Muhlenkamp, Portfolio Manager Tony Muhlenkamp, President
Muhlenkamp & Company Webinar December 1, 2016 Ron Muhlenkamp, Portfolio Manager Jeff Muhlenkamp, Portfolio Manager Tony Muhlenkamp, President Muhlenkamp & Company, Inc. Intelligent Investment Management
More informationCharting a Path to Lift Off? Understanding the Shifting Economic Winds
Charting a Path to Lift Off? Understanding the Shifting Economic Winds Thomas F. Siems, Ph.D. Assistant Vice President and Senior Economist Federal Reserve Bank of Dallas Government Finance Officers Arlington,
More informationFundamental Certainty
Fundamental Certainty.or No? a presentation at: R. Mark Woodworth PKF Hospitality Research, LLC May 7, 2013 mark.woodworth@pkfc.com Hotel Horizons Forecasting Model Smith Travel Research Historical rooms
More informationPHILADELPHIA HOUSE PRICE INDICES
PHILADELPHIA HOUSE PRICE INDICES April 14, 2014 KEVIN C. GILLEN, Ph.D. gillenk@upenn.edu Disclaimers and Acknowledgments: The Fels Institute of Government at the University of Pennsylvania provides this
More informationEconomic & Financial Market Outlook
Economic & Financial Market Outlook BC Pension Forum March 1, 2013 Chris Lawless, Chief Economist Overview Global forces Recent economic performance ~ US, Europe, Japan, China ~ Other emerging markets
More informationThe Economic Outlook. Economic Policy Division
The Economic Outlook Economic Policy Division Glass Half Full Six years of steady growth Real GDP Outlook Percent Change, Annual Rate 10 5 0-5 -10 1980 1985 1990 1995 2000 2005 2010 2015 Glass Half Full
More informationThe US Economic Outlook
IHS ECONOMICS US Outlook The US Economic Outlook November 2014 ihs.com Rafael Amiel, Director latin America Economics +1 215 789 7405, rafael.amiel.ihs.com 2014 IHS The US economy is gaining momentum Growth
More informationNational Housing Trends
National Housing Trends 34% America s Choice of Best Long Term Investment 26% 17% 15% 6% Real Estate Stocks / Mutual Funds Gold Savings Accounts / CDs Bonds Gallup 2018 Housing Affordability 197 Index
More informationABA Commercial Real Estate Lending Committee
ABA Commercial Real Estate Lending Committee Commercial Real Estate Outlook The Good, the Bad and the Ugly January 16, 2019 Rob Strand Senior Economist American Bankers Association aba.com 1-800-BANKERS
More informationYour Texas Economy. Last updated: January 30, 2018
Your Texas Economy Last updated: January 30, 2018 Texas economy strong in 2017 2017 job growth was 2.4% Overview 2015/2016 job growth was much weaker due to the oil bust (1.3% and 1.2%, respectively) 2014
More informationPresident and Chief Executive Officer Federal Reserve Bank of New York Washington and Lee University H. Parker Willis Lecture in Political Economics
The U.S. Economic Outlook Chartspresented by WilliamC Dudley Charts presented by William C. Dudley President and Chief Executive Officer Federal Reserve Bank of New York Washington and Lee University H.
More informationEconomic Recovery Has Stalled, Recession in the Cards by Year End
Economic Indicators to Watch for Signs of Recovery Economic Recovery Has Stalled, Recession in the Cards by Year End New York, NY Monday, June 27, 2011 Richard Yamarone Author of The Trader s Guide to
More informationComposition of Federal Spending
*For Institutional Use Only* Demographic and Economic Trends: Growth, Debt and Promises Douglas C. Robinson RCM Robinson Capital Management LLC SEC Registered Investment Advisory Firm Advisory services
More informationDeficit Reduction and Economic Growth: Are They Mutually Exclusive Goals? Tuesday, May 1, 2012; 2:30 PM - 3:45 PM
Deficit Reduction and Economic Growth: Are They Mutually Exclusive Goals? Tuesday, May 1, 2012; 2:30 PM - 3:45 PM Moderator: Gillian Tett, U.S. Managing Editor, Financial Times Speakers: Jared Bernstein,
More informationU.S. Property Market Outlook, 2013Q1. Jim Costello, Managing Director CBRE Americas Research Investment Research
U.S. Property Market Outlook, 2013Q1 Jim Costello, Managing Director CBRE Americas Research Investment Research CBRE Page 2 Outlook for the Real Side of the Economy Operationally, what do Research Teams
More information2015 Economic Forecast & Industry Outlook. Robert A. Kleinhenz, Ph.D. Chief Economist, Kyser Center for Economic Research, LAEDC October 8, 2014
2015 Economic Forecast & Industry Outlook Robert A. Kleinhenz, Ph.D. Chief Economist,, LAEDC October 8, 2014 Outline U.S. Economy California Economy Southern California Economy & Industries Five-Year Outlook
More information2018 Annual Economic Forecast Dragas Center for Economic Analysis and Policy
2018 Annual Economic Forecast Dragas Center for Economic Analysis and Policy PRESENTING SPONSOR EVENT PARTNERS 2 The forecasts and commentary do not constitute an official viewpoint of Old Dominion University,
More informationEconomic Overview. Melissa K. Peralta Senior Economist April 27, 2017
Economic Overview Melissa K. Peralta Senior Economist April 27, 2017 TTX Overview TTX functions as the industry s railcar cooperative, operating under pooling authority granted by the Surface Transportation
More informationReal Estate: Investing for the Future. Sponsored By:
Real Estate: Investing for the Future Sponsored By: Percent Change, Year Ago 6 5 4 3 2 1 Real GDP Growth United States, 2000 Prices 0 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 U.S. Employment
More informationNational Housing Trends
National Housing Trends 34% America s Choice of Best Long Term Investment 26% 17% 15% 6% Real Estate Stocks / Mutual Funds Gold Savings Accounts / CDs Bonds Gallup 2018 Home Sales in thousands 2017 2018P
More information2018 Annual Economic Forecast Dragas Center for Economic Analysis and Policy
2018 Annual Economic Forecast Dragas Center for Economic Analysis and Policy PRESENTING SPONSOR EVENT PARTNERS 2 The forecasts and commentary do not constitute an official viewpoint of Old Dominion University,
More informationNorthwest Economic Research Center College of Urban and Public Affairs Forecast Breakfast Economic Outlook
Northwest Economic Research Center College of Urban and Public Affairs 2019 Forecast Breakfast Economic Outlook 1/10/2019 2 U.S. ECONOMY 1/10/2019 3 1980 1982 1984 1986 1988 1990 1992 1994 1996 1998 2000
More informationHouston and Tomball Economic and. Housing Outlook. recenter.tamu.edu. Dr. James P. Gaines Research Economist
Houston and Tomball Economic and Dr. James P. Gaines Research Economist Housing Outlook recenter.tamu.edu THE CURRENT SITUATION The Future Just Ain t What It Used to Be! Yogi Berra National Economic Recovery
More informationBriefing on the State of the State. presented to the. SCAA Schuyler Center for Analysis and Advocacy
Briefing on the State of the State presented to the SCAA Schuyler Center for Analysis and Advocacy Rae D. Rosen Assistant Vice President Federal Reserve Bank of New York November 16, 2006 Key Points: Economic
More information2019 ECONOMIC FORECAST AND FINANCIAL MARKET UPDATE
2019 ECONOMIC FORECAST AND FINANCIAL MARKET UPDATE January 14, 2019 Scott Colbert, CFA Executive Vice President Director of Fixed Income & Chief Economist scott.colbert@commercebank.com GLOBAL GROWTH EXPECTATIONS
More informationNational Housing Trends
National Housing Trends 34% America s Choice of Best Long Term Investment 26% 17% 15% 6% Real Estate Stocks / Mutual Funds Gold Savings Accounts / CDs Bonds Gallup 2018 Housing Affordability 197 Index
More informationU.S. and Colorado Economic Outlook National Association of Industrial and Office Parks. Business Research Division Leeds School of Business
U.S. and Colorado Economic Outlook National Association of Industrial and Office Parks Presented by the Business Research Division Leeds School of Business University of Colorado at Boulder U.S. Economic
More informationPROVINCE OF SASKATCHEWAN INVESTOR PRESENTATION
PROVINCE OF SASKATCHEWAN INVESTOR PRESENTATION May 2018 THE SASKATCHEWAN DIFFERENCE Economic Stability Diversified economy balances cyclicality of resources Growing population Majority government with
More informationRBC Economics Financial Update Dawn Desjardins
RBC Economics Financial Update Dawn Desjardins CICA/RBC Q4 2011 Business Monitor Economic Results Overview Business and Economic Optimism Begin to Stablize 100 % 80 % 60 % 40 % 20 % 0 % National Optimism
More informationDr. James P. Gaines Research Economist recenter.tamu.edu
Texas Uncertain Economy in a World of Uncertain Oil Prices Dr. James P. Gaines Research Economist recenter.tamu.edu National Economic Recovery still Going 2 U.S. Outlook Expected GDP growth still modest:
More informationWORKFORCE LOCAL AREA EMPLOYMENT STATISTICS (LAUS)
AUGUST 2018 WORKFORCE LOCAL AREA EMPLOYMENT STATISTICS (LAUS) 1,200,000 1,100,000 1,000,000 900,000 Labor Force Employment 1,152,626 1,116,938 800,000 700,000 600,000 500,000 2016 to 2017: 35957 (3.1%)
More informationReading the Tea Leaves: Investing for 2010 and Beyond
Reading the Tea Leaves: Investing for 2010 and Beyond Wednesday, April 28, 2010; 8:00 AM - 9:15 AM Moderator: Maria Bartiromo, Anchor, CNBC's Closing Bell With Maria Bartiromo Speakers: Nick Calamos, President
More informationBC Pension Forum. Economic Outlook. Presented by: Ben Homsy, CFA Portfolio Manager
BC Pension Forum Economic Outlook Presented by: Ben Homsy, CFA Portfolio Manager 1694 1704 1713 1723 1732 1741 1751 1760 1770 1779 1788 1798 1807 1817 1826 1836 1845 1854 1864 1873 1883 1892 1901 1911
More informationReal gross domestic growth
Real gross domestic growth United States, 2000 prices Compound annual growth rate 10 5 0-5 -10 81 83 85 87 89 91 93 95 97 99 01 03 05 07 Sources: BEA, Global Insight. Consumer sentiment University of Michigan,
More informationGlobal Economic Outlook. Kellie Maske, Sr. Economics Fellow FedEx Corporate Economics September 2011
Kellie Maske, Sr. Economics Fellow FedEx Corporate Economics U.S. Outlook: Moderate Growth Overall 6 4 US Real GDP Growth 2 % Change 0 (2) (4) Forecast (6) (8) Bars = QOQ% Annualized Line = YOY% (10) 2005
More informationThe Auction Market In 2015 & 2016 Review & Forecast. Dr. Ira Silver NAAA Economist
The Auction Market In 2015 & 2016 Review & Forecast Dr. Ira Silver NAAA Economist silver@naaa.com Agenda Economic conditions Economic outlook Light vehicle sales Light vehicle sales outlook NAAA 2015 Annual
More informationU.S. Economic Activity. Federal Reserve Bank of Dallas
U.S. Economic Activity Federal Reserve Bank of Dallas 2019 Contents 1 Economic Activity 2 Wages and Prices 3 Financial Activity Economic Activity Economic Activity Index 160 Consumer Confidence and Sentiment
More informationU.S. Economic Activity. Federal Reserve Bank of Dallas
U.S. Economic Activity Federal Reserve Bank of Dallas 2019 Contents 1 Economic Activity 2 Wages and Prices 3 Financial Activity Economic Activity Economic Activity New Orders for Durable Goods Billions
More informationU.S. Economic Activity. Federal Reserve Bank of Dallas
U.S. Economic Activity Federal Reserve Bank of Dallas 2019 Contents 1 Economic Activity 2 Wages and Prices 3 Financial Activity Economic Activity Economic Activity Index 160 Consumer Confidence and Sentiment
More informationEconomic Outlook: fear over fundamentals
ECONOMICS I RESEARCH Economic Outlook: fear over fundamentals April 2016 Craig Wright (SVP & Chief Economist) (416) 974-7457 craig.wright@rbc.com Volatility index Market volatility index, (VIX) 90 80 70
More informationEconomic Update and Outlook
Economic Update and Outlook NAIOP Vancouver Chapter November 15, 2012 Helmut Pastrick Chief Economist Central 1 Credit Union Outline: Global, U.S., and Canadian economic conditions Canada economic and
More informationLarry Kessler, Ph.D. Boyd Center for Business & Economic Research University of Tennessee
Larry Kessler, Ph.D. Boyd Center for Business & Economic Research University of Tennessee The U.S. economy has now enjoyed 7 years of economic growth since the Great Recession Real GDP grew by 1.2% in
More informationAnalyzing the Energy Economy Michael Plante Senior Research Economist
Federal Reserve Bank of Dallas Analyzing the Energy Economy Michael Plante Senior Research Economist Disclaimer Disclaimer: The statements in this presentation do not represent the official views of the
More informationShifting International Trade Routes A National Economic Outlook. February 1, 2011
Shifting International Trade Routes A National Economic Outlook February 1, 2011 Today s Objectives Endeavor to provide a broad context for today s program by briefly touching on: Some good news Some not
More informationMUSTAFA MOHATAREM Chief Economist, General Motors
MUSTAFA MOHATAREM Chief Economist, General Motors INTRODUCTION The U.S. economy continues to grow at a gradual but also erratic pace The current recovery is one of the slowest in the post-wwii U.S. history.
More informationAlternative Measures of Economic Activity. Jan J. J. Groen, Officer Research and Statistics Group
Alternative Measures of Economic Activity Jan J. J. Groen, Officer Research and Statistics Group High School Fed Challenge Student Orientation: February 1 and 2, 217 Outline Alternative indicators: data
More informationWORKFORCE LOCAL AREA EMPLOYMENT STATISTICS (LAUS)
AUGUST 2016 WORKFORCE LOCAL AREA EMPLOYMENT STATISTICS (LAUS) 1,150,000 1,100,000 1,050,000 1,000,000 950,000 900,000 850,000 800,000 750,000 700,000 Labor Force Employment June 2015 to June 2016: 36,504
More informationPhiladelphia Housing s Recovery Becomes More Equitable in Q3 Sales surge citywide; house value appreciation strongest in low-priced neighborhoods.
Philadelphia Housing s Recovery Becomes More Equitable in Q3 Sales surge citywide; house value appreciation strongest in low-priced neighborhoods. October 13, 2014: After a brisk spring which saw widespread
More informationThe U.S. Economic Outlook
The U.S. Economic Outlook Nigel Gault Chief U.S. Economist, IHS Global Insight FTA Revenue Estimation & Tax Research Conference Charleston, West Virginia October 17, 2011 What Has Happened to the Recovery?
More informationAgriculture and the Economy: A View from the Chicago Fed
Agriculture and the Economy: A View from the Chicago Fed March 3, 2016 Riverside, Iowa David Oppedahl Senior Business Economist 312-322-6122 david.oppedahl@chi.frb.org Federal Reserve System Twelve District
More informationThe Houston Economy Jesse Thompson Regional Business Economist The Federal Reserve Bank of Dallas, Houston Branch June 2016
The Houston Economy Jesse Thompson Regional Business Economist The Federal Reserve Bank of Dallas, Houston Branch June 2016 Image from http://peoplesguidetohouston.wordpress.com/category/uncategorized/
More informationThe ABA Advantage: Economic Issues Update & ABA Resources
The ABA Advantage: Economic Issues Update & ABA Resources aba.com 1-800-BANKERS Meet the team Jim Chessen Chief Economist Curtis Dubay Senior Economist Brittany Kleinpaste Vice President of Economic Policy
More informationOpportunities in a Challenging Global Business Environment: Can the World Avoid a Double-Dip?
Opportunities in a Challenging Global Business Environment: Can the World Avoid a Double-Dip? Ross DeVol Chief Research Officer (310) 570 4615 rdevol@milkeninstitute.org www.milkeninstitute.org Presentation
More informationNational and Regional Economic Outlook. Central Southern CAA Conference
National and Regional Economic Outlook Central Southern CAA Conference Dr. Mira Farka & Dr. Adrian R. Fleissig California State University, Fullerton April 13, 2011 The Painfully Slow Recovery The Painfully
More informationORLANDO MSA MARKET OVERVIEW LAST UPDATED: MAY 2018
ORLANDO MSA MARKET OVERVIEW LAST UPDATED: MAY 2018 Orlando MSA Market Overview Labor Market Payroll Employment Commercial Real Estate Residential Real Estate Consumer Spending Visitor Industry Labor Market
More informationU.S. Economy in a Snapshot
U.S. Economy in a Snapshot Economic Press Briefing: May 19, 2016 The views expressed here are those of the presenter and do not necessarily represent the views of the Federal Reserve Bank of New York or
More information