Economic indicators

The resurgence of the coronavirus led to a larger than expected drop in consumer confidence.

Lindsey Piegza says politics and consumer's continued fear may make the recovery more difficult.

The Federal Reserve's Summary of Economic Projections forecasts inflation won't hit its 2% target next year, and others agree.

The Federal Reserve Bank of Philadelphia's manufacturing index fell to a seventh- month low, while jobless claims hit a three-month high.

The rising number of COVID-19 cases and the restrictions imposed to stop its spread, led to a pullback in consumer spending and has a regional service sector reeling.

While the latest read of manufacturing from the New York region suggests slowing, with COVID vaccines starting to be rolled out, the future index gained.

Increases in producer and consumer prices on an annual basis, with a 0.3-point gain compared to last year may be a signal inflation will emerge and might force the Federal Reserve to act, economists said.

With rising COVID-19 cases and increasing local restrictions, jobless claims can be expected to continue rising, economists said.

Many predicted double-digit unemployment at yearend, but that won't happen, but even after vaccines are introduced labor market questions will need to be addressed.

Strategists from both Wells Fargo Investment Institute and John Hancock have low expectations for inflation going forward.

'Exceptionally accommodative' monetary policy expected as inflation remains short of the Fed's 2% target, according to BNP economists.

The 245,000 increase in nonfarm payrolls indicated a slowing, and with lockdowns rising, December's numbers could fall again.

Christopher Waller was confirmed to a seat on the Federal Reserve Board on Thursday by a 48-47 vote along party lines.

The data continue to offer a mixed picture, with manufacturing expanding, services hurting, and while construction spending rose more than expected, it followed a downward revision to the previous month's number.

Pending home sales unexpectedly declined in October, the second consecutive month they dropped.

The flood of indicators released Wednesday were indicative of a slowing economy, analysts said.

The consumer confidence index suggested expectations have slipped, and the Richmond Fed's services survey also offered a dim view ahead.

Jobless claims rose and existing home sales surged, underscoring the uneven and sporadic nature of the COVID-19 pandemic recovery.

Two vaccines seem effective and nearly ready for use, spurring talk of a return to normal.

October retail sales rose less than forecast, and with a new wave of rising infections, analysts worry that lost jobs and increased restrictions could hurt sales going forward.