April 19, 2009

Chicago Fed National Activity Index Edges Down in March

Economic Trends, Free, News, Research & Analytics, Subscriber Only / MDM Staff

The Chicago Fed National Activity Index was -2.96 in March, down slightly from -2.82 in February. All four broad categories of indicators continued to make negative contributions to the index in March.

The three-month moving average, CFNAI-MA3, increased to -3.27 in March from -3.57 in the previous month. March’s CFNAI-MA3 suggests that growth in national economic activity was well below its historical trend. With regard to inflation, it indicates little inflationary pressure from economic activity over the coming year.

Employment-related indicators made a large negative contribution of -1.27 to the index in March after contributing -1.29 in the previous month. Total nonfarm payroll employment declined 663,000 in March, after decreasing 651,000 in February; …

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Striking a Balance Between Long- and Short-Term Plans

Free, Management, Strategy, Subscriber Only / Jenel Stelton-Holtmeier

Current economic conditions have impacted the way businesses think about doing business, according to a recent article and survey found in The McKinsey Quarterly.

The article, Strategic planning: Three tips for 2009,” warns businesses against abandoning strategic planning for survival mode, because eventually the crisis will end.

Focusing solely on the recession is a mistake for two reasons, according to the piece:

First, market trends are already established, and managers and executives should continue to focus on those for long-term business planning.

Second, fixation on the economy itself creates tunnel vision that could …

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March Housing Starts Fall 10.8% From February

Building Materials/Construction, Economic Trends, Free, News, Research & Analytics, Subscriber Only, Top Distributor Sectors / MDM Staff

Privately-owned housing starts in March were at a seasonally adjusted annual rate of 510,000, 10.8% below the revised February estimate of 572,000 and 48.4% below the March 2008 rate of 988,000, according to the U.S. Census Bureau and the Department of Housing and Urban Development.

Single-family housing starts in March were at a rate of 358,000; this is unchanged from February. The March rate for units in buildings with five units or more was 116,000.

By region, housing starts in the Northeast were down 41.7% from March 2008; in the Midwest, they were down 24.4%. Starts dropped 48% in the South, and the West experienced a decrease of 67.3%.

Permits
Privately-owned housing units authorized by building permits in March were at a seasonally …

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April 19, 2009

Chicago Fed National Activity Index Edges Down in March

Striking a Balance Between Long- and Short-Term Plans

March Housing Starts Fall 10.8% From February

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