Joseph Abate

The fact that households are saving so little, even with strong growth in personal income, is a potentially troubling development.

The fact that households are saving so little, even with strong growth in personal income, is a potentially troubling development.

Warm weather and a post-December rebound in new activity will likely boost construction payrolls. Retail employment should also enjoy a read more

Warm weather and a post-December rebound in new activity will likely boost construction payrolls. Retail employment should also enjoy a post-holiday boost.

The increase in gasoline prices and the prospect of a long, expensive winter is depressing sentiment.

The increase in gasoline prices and the prospect of a long, expensive winter is depressing sentiment.

Manufacturing activity in the region appears to have cooled off. We suspect it will be another month or two before read more

Manufacturing activity in the region appears to have cooled off. We suspect it will be another month or two before auto manufacturers start ramping up production to replenish sales-depleted inventories.

Further improvement in earnings and additional declines in the unemployment rate is likely to boost overall confidence and keep consumption read more

Further improvement in earnings and additional declines in the unemployment rate is likely to boost overall confidence and keep consumption strong.