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PNC Chief Economist Gus Faucher: Stimulus Payments Boosted Income and Consumer Spending in January

Michigan Business Network
February 26, 2021 1:00 PM

Inflation Remains Contained
  • Inflation will temporarily accelerate over the next few months, then recede.There was a huge 10% increase in personal income in January as the government distributed stimulus payments to households.
  • Consumer spending rose a big 2.4% over the month.
  • The PCE price index rose 0.3% in January, as did the core index.
  • Stimulus is supporting an economic recovery in the U.S.  With Congress set to pass a $1.9 trillion stimulus package, the outlook is for very strong growth this year.
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Clark Schaefer Hackett | On-Time Delivery Is Critical for Operations Leaders

Michigan Business Network
February 26, 2021 7:00 AM

Don’t let OTD cause you to lose clients

As an Operations leader, you know that on-time delivery is critical for your manufacturing and distribution company. If your business isn’t consistently delivering on time, your organization’s reputation could be negatively impacted, resulting in lost orders and revenue. CSH’s Randy Slattery discusses some of the factors that can slow down your delivery time and provides tips to drive improvement in your operations.

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PNC Chief Economist Gus Faucher: Initial UI Claims Fall to Lowest Level Since November

Michigan Business Network
February 25, 2021 1:00 PM

But Weather Likely a Factor
  • Initial claims for unemployment insurance in the week ending February 2020 fell to their lowest level since late November. Bad weather likely was behind the big drop in claims, however.
  • The total number of people receiving some form of unemployment insurance rose in the week ending February 6. Unemployment remains a serious problem for the U.S. economy.
  • Job growth should pick up over 2021 as the economy recovers from the pandemic.
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Clark Schaefer Hackett | Tired of Excel spreadsheets? Power BI can help.

Michigan Business Network
February 24, 2021 4:00 PM


Power BI integrates with Excel to give you a 360-degree view of your financial data. In this webinar, CSH’s Glenn Plunkett will demonstrate how CFOs can get the information they need all in one place, in real time, and organized into stunning, customizable dashboards.

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PNC Economist Abbey Omodunbi: More Solid Housing Data; New Home Sales Up in January

Michigan Business Network
February 24, 2021 2:00 PM

Exceeding Market Expectations
  • New home sales rose 4.3% in January from the prior month, much stronger than market expectations
  • The supply of new single-family homes for sale in January was 4.0 months, slightly down from 4.1 months in December
  • Housing data is likely to cool in the near-term due to extreme weather conditions, but residential housing will remain strong in 2021
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AG Nessel Brings Awareness to Continuing COVID Relief Programs, Warns of Potential New Scams

Michigan Business Network
February 18, 2021 6:00 PM

LANSING – Michigan Attorney General Dana Nessel advises Michigan residents facing financial hardship during the pandemic may be eligible for continued rent and mortgage payment assistance, as well as deferred student loan payments. Nessel also warns that these relief programs may motivate bad actors to think of new ways to attempt to steal personal information and money.  

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Bitcoin and Crypto-Currencies in 2021

Michigan Business Beat
February 18, 2021 3:00 PM

David Silva Smith, Founder of Capital Grind (Startup Grind) talks with Chris Holman about bitcoin and crypto-currencies in 2021. Startup Grind is a global (55 countries, 125 cities) startup community designed to educate, inspire and connect entrepreneurs.

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PNC's Gus Faucher: Initial Unemployment Insurance Claims Increase Again

Michigan Business Network
February 18, 2021 1:00 PM

Labor Market Recovery Remains Stalled in February

Initial claims for unemployment insurance by 13,000 in the week ending February 13 to 861,000. Claims for the prior week were revised significantly higher by 55,000 to 848,000, from 793,000. The four-week moving average of claims, which smooths out some of the volatility, fell by around 4,000 to 833,000. Initial claims are likely to rise in the week ending February 20 because of bad winter weather and power outages in much of the country.

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PNC Chief Economist Gus Faucher: Big Jump in January Retail Sales to Record High

Michigan Business Network
February 17, 2021 4:00 PM

as Stimulus Payments Supported Spending
  • Retail sales rose 5.3% in January from December, the biggest increase since June 2020; they are now 8% above their pre-pandemic level. 
  • Sales were strong across all segments as stimulus payments boosted consumer spending. 
  • Consumer spending, supported by stimulus, will drive economic recovery in 2021.
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Clark Schaefer Hackett | Webinar: Power BI for CFOs

Michigan Business Network
February 17, 2021 8:00 AM

Webinar: Join us March 4 at 12 pm

The Information You Need in Real Time 

A recent survey shows that 97% of CFOs lose sleep at night over financial reporting. If you’re one of them, it might be time to consider a better solution, and give up Excel spreadsheets for good.

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