Both retail sales and manufacturing declined during October, falling short of consensus expectations. Despite this, consumer sentiment remains resilient.

So far this year, U.S. manufacturing and industrial production levels have been nearly flat. On a seasonally-adjusted basis, national manufacturing has increased by only about one percent year-to-date.... Read More

The major economic announcement this week was that second quarter GDP increased at a mild 1.5% annual rate, down from a 2% annual growth rate in the first quarter of 2012. In the same report, the BEA announced that personal consumption expenditures also increased at an annual rate of 1.5%. Although these values indicate that conditions are worsening for trucking—but not alarmingly so—these growth rates do not capture the whole picture.... Read More

Consumer confidence is decreasing. The Index of Consumer Sentiment, as measured by Thomson Reuters and the University of Michigan, dropped to 72.0 in early July, down 1.6% from June for a second straight monthly decline.... Read More