Wednesday, December 3, 2014

General Economics

Market Watch | U.S. productivity gain in third quarter raised to 2.3% from 2%
U.S. companies and workers were more productive in the third quarter than initially reported, but labor costs fell sharply for the second straight time in a sign that wages continue to lag behind. Productivity grew at a revised 2.3% annual pace instead of 2%, newly revised government figures show.
CNN Money | Americans pour $2 billion into Cyber Monday
While brick and mortar retailers have seen declining traffic and spending this holiday season, new numbers show their online counterparts are getting a boost.

Econ Comments & Analysis                                                                                            
Market Watch | Stock-market correction imminent
The stock market, as measured by the Standard & Poor’s 500 Index has been on a virtual tear — gaining over 250 points since the October lows; a mere seven weeks ago.
Mercatus | The Economic Situation, December 2014
The GDP data in my first chart, above, contain some good news (view chart here). The recently received 3.9 percent second estimate for 3Q2014 real GDP growth gave two quarters hand running with the pace exceeding the long term 3.14 percent average.

Wall Street Journal | What Black Friday and Cyber Monday Don’t Tell You About the Economy
The idea that holiday sales begin the day after Thanksgiving is no longer the case. The11% drop in early holiday shopping, estimated by the National Retail Federation, does not mean the U.S. economy is in trouble (and that’s a point the group itself makes).