U.S. Industrial Production Hits Prerecession Peak

WSJ, WASHINGTON—U.S. industrial output in November surpassed its prerecession peak for the first time, the latest sign of momentum for the economic recovery. Industrial production, which measures the output of U.S. manufacturers, utilities and mines, surged a seasonally adjusted 1.1% from the prior month, the Federal Reserve said Monday. That was the biggest jump in… Read more »

Cyber Monday 2013 Heaviest Online Spending Day in History

Retailers saw sales decrease the week ending December 7 of 1.6% versus Thanksgiving week. However, Cyber Monday sales of online shopping reached $1.7 billion, an increase of 18% over 2012. This is recorded as the “heaviest online spending day” by comScore. Cyber Monday was the second day this holiday season to exceed $1 billion –… Read more »

Visa Holiday Shopping Stats

Visa provided some details on holiday transaction volumes and they are very encouraging. Nov 28 – $0.99 billion spent (up 30% from LY), 14 million transactions (up 29% from LY) Nov 29 – $1.7 billion spent (up 24% from LY), 21 million transactions (up 24% from LY) Nov 30 – $1.3 billion spent (up 37%… Read more »

Walmart Declares Early Black Friday Victory

Even before its final round of deals kicked in at Walmart on Friday morning, the retailer announced that sales had exceeded last year’s record-breaking results with 10 million transactions completed between 6 p.m. and 10 p.m. on Thanksgiving. “Our Black Friday events were bigger, better, faster, cheaper and safer than ever.  More customers chose us,… Read more »

Unemployment Rate Falls to 7.0%

WASHINGTON—U.S. employers continued to add jobs at a steady pace and the unemployment rate fell in November, a sign of stronger economic growth that may intensify debate within the Federal Reserve about reducing central bank bond purchases as early as this month. U.S. payrolls rose by 203,000 last month, the Labor Department said Friday. The… Read more »

Sears to Spin-Off Lands’ End

HOFFMAN ESTATES, Ill., Dec. 6, 2013 /PRNewswire/ — Sears Holdings Corporation (NASDAQ: SHLD) announced that, in connection with its previously announced consideration of a separation of its Lands’ End business, Lands’ End, Inc. filed today a registration statement on Form 10 with the Securities and Exchange Commission. Sears Holdings intends to spin off its Lands’… Read more »

Leading Economic Index for the U.S. Increased in November

The Conference Board Leading Economic Index for the U.S. increased 0.2 percnt in October to 97.5, following a 0.9 percent increase in September, and a 0.7 percent increase in August. “The modest rise in the Leading Economic Index in October follows the strong advances recorded in the prior two months, which helps lift the six-month… Read more »

Consumer Confidence Declines Again in November

The Conference Board Consumer Confidence Index, which had decreased sharply in October, declined again in November.  The Index now stands at 70.4, down from 72.4 in October.  The Present Situation Index edged down to 72.0 from 72.6.  The Expectations Index declined to 69.3 from 72.2 last month. “Consumer confidence declined moderately in November after sharply… Read more »

Holiday Sales Early Indicators

The amount of money that consumers spent over the Thanksgiving weekend is estimated to have slipped 2.7% to $57.4B, the National Retail Federation says. The drop is in contrast to estimates that Thanksgiving and Black Friday sales at brick-and-mortar stores rose 2.3%. The average consumer spent $407.02 over the whole weekend, down 3.9% from last… Read more »