The March 2024 Economic Advisor is now available
The March 2024 NFFS Economic Advisor is now available for NFFS members:
In this issue:
- A Closer Look: The U.S. Economy: What Not to Do in 2024: "Businesses rely on ITR Economics to advise about where the economy is headed and identify what they should do to drive profits. Most of our advice revolves around actions that businesses should take to stay ahead of the curve. Here, I will focus on three things that businesses should not do in the face of probable economic adversity this year."
- Macroeconomic Outlook: "Consumers are proving rather resilient to economic headwinds
and they drive much of the macroeconomy. Despite elevated Consumer Prices – up about 20% since the start of the pandemic – and high borrowing costs, consumers are buying a record volume
of both goods and services.” - Leading Indicator Snapshot: "The ITR Leading Indicator™ rose in February, which is likely due to consumer resilience, especially for consumers in the middle-to-upperincome bracket. Despite this upward momentum, we continue to anticipate an imminent and mild decline in the US Industrial sector, which recently ticked down on an annual basis and is nearing Phase D, Recession."
- Manufacturing Industry Analysis: "U.S. Total Manufacturing Production in the 12 months through February was 0.6% below the year-ago level. Annual Production is likely to mildly decline in the near term due in part to interest rate pressures limiting capex.
- Readers Forum: "What is going on with the commercial real estate market? Should I be worried about potential bank failures? Jenna Allen, Economist at ITR Economics™, answers."
The NFFS Economic Advisor provides economic data that is sourced and compiled on a monthly basis by ITR Economics for members of NFFS. It provides leading indicator trend data and relevant economic news to assist foundries with their internal economic analyses and business planning.