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KPMG Economics

A source for unbiased economic intelligence to help improve strategic decision-making.

 

What’s impacting labor market participation? Why are some sectors faring better than others? How do you separate the signal from the noise? KPMG Economics answers these questions and more, providing timely insight and analysis into the economic indicators. We monitor trends and identify potential opportunities that could impact your strategic objectives. Our perspectives look at both the short-term and long-term economic factors that are critical to guiding strategic decisions.

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KPMG Economics distributes a wide selection of insight and analysis to help businesses make informed decisions.

Economic Coordinates

Explore analysis of key data indicators, such as job creation and the labor market, consumer spending, inflation, investment, housing and monetary policy. These combined data points are indicators of the overall health of the economy.

KPMG Economics in the news:

  • Why central banks are reluctant to declare victory over inflation | Financial Times
    On Friday, markets were stunned by a U.S. Bureau of Labor Statistics release that showed the US economy added 353,000 jobs in January — almost double what was expected. Diane Swonk, U.S. chief economist at KPMG, says unusually low levels of lay-offs and a drop in hours worked suggested that some of the job market’s strength was due to employers “hoarding” labor. Those who struggled to hire workers after Covid lockdowns ended did not want to find themselves in the same position when demand picked up, she explains. “However, that is still a lot more paychecks to start the year than usual,” she adds. “When taken with the upward revisions to the previous two months and the hotter than expected wage growth, that suggests the labor market may be re-accelerating.”
    February 04, 2024 |  Financial Times
  • January jobs report: Expect to see strong but slower hiring and an uptick in the unemployment rate | CNN.com 
    "What was supposed to be the hardest mile in the marathon for the Fed on inflation morphed into a relay race," Diane Swonk, chief economist at KPMG, told CNN. "Job gains went from sectors that drove the economy out of the recession, very interest-rate sensitive sectors, to those sectors that are less sensitive to interest rates. You are in a more fragile situation than you were a year ago, given the gains — potentially outside of January — thus far for the past six months had been concentrated in three sectors," Swonk said. "And we've seen a vulnerability there already expressed, and October is a case in point."
    February 02, 2024 |  CNN.com
  • A Reality Check for the American Dream: Who Can Afford a Home Right Now? | Realtor.com 
    Homeownership has long been a cornerstone of the American dream. But with prices and mortgage rates high, first-time buyers are struggling to achieve it. Also, scores of existing homeowners are realizing they can’t afford to move “The typical family in today’s market cannot afford the typical home,” says Yelena Maleyev, a senior economist at KPMG. “It will take a combination of lower mortgage rates and lower home prices and more [housing] supply to help the typical family afford the typical home.”
    January 30, 2023 | Realtor.com
  • Americans are very worried about food and housing costs | Newsweek   
    "Consumer attitudes improved in December and early January, although their attitudes about the economy have not been a hurdle to spending," Diane Swonk, KPMG's chief economist, said Friday. Part of the way Americans think about the economy is shaped by what the country has been through over the last three years. "They reflect a complex mix of emotions, not the least of which includes the roller coaster of surviving a pandemic and the inflation that ensued," Swonk added. "People don't just want to regain ground lost to inflation. They would like to gain ground in their living standards; that takes time." 
    January 29, 2024 | Newsweek
  • Housing market may be headed for a shift | Newsweek
    A strong U.S. economy will be a boon for the housing market, Mortgage Bankers Association's (MBA) chief economist said on Thursday, as it will buoy demand and as inflation continues to fall, mortgage rates will decline as well making home loans more affordable for buyers. The fall in prices and a rise in sales was partly due to builders offering inducements to buyers, according to Yelena Maleyev, a senior economist at KPMG. "Builders have pivoted to building smaller homes and offering more discounts and concessions, such as mortgage rate buydowns, to bring in buyers sidelined by rising mortgage rates," she said in a note shared with Newsweek. "If mortgage rates fall below 6% in 2024, more owners will feel comfortable listing their homes for sale, alleviating some of the shortages, but not enough to close the supply gap," Maleyev said.
    January 25, 2024 | Newsweek

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