Weekly Economic Update: August 28 – September 1, 2017
CHART OF THE WEEK
United States Projected to Become Net Exporter of Natural Gas
The Energy Information Agency (EIA) projects that the United States will become a net exporter of natural gas as of 2017. In 2009, the United States surpassed Russia to become the world’s largest producer of natural gas. U.S. production is currently 72.5 billion cubic feet per day (Bcf/d). In addition, the capacity to liquefy natural gas for shipment by tanker (as opposed to pipelines) is projected to increase from 1.4 Bcf/d to 9.5 Bcf/d by 2019’s end. Natural gas emits 30% less CO2 than oil and 45% less than coal (see p. 3 of link).
LAST WEEK
News & Commentary Weekly Highlights
Breaking Energy: LNG Exports, Growing U.S. Energy Opportunity
Wall Street Journal: Janet Yellen’s Future at the Fed Unresolved Heading Into Jackson Hole
Economics21: Treasury Should Not Bail Out Fannie’s and Freddie’s Subordinated Debt
The Clearing House: FOMC Go Home
Top Economic Indicator Highlights
Chicago Fed National Activity Index (CFNAI) (July, preliminary)
The CFNAI is an index generated as a weighted average from 85 different economic indicators measuring economic growth. Values above zero indicate above-average economic growth.
Category |
July |
June |
May |
CFNAI (3-month moving average) |
-0.05 |
0.09 |
0.00 |
Noteworthy: Between February 2015 and November 2016 the 3-month moving average of CFNAI was negative, indicating below average economic growth. In six of the last eight months the index’s 3-month moving average has been positive or zero.
THIS WEEK
Upcoming Economic Data and Events
Monday
Advance Economic Indicators (8:30am)
Dallas Fed Manufacturing Survey (10:30am)
Tuesday
Consumer Confidence Index (10:00am)
Dallas Fed Texas Retail Outlook Survey (10:30am)
Wednesday
ADP National Employment Report (8:15am)
Gross Domestic Product (Second Estimate) (8:30am)
Thursday
Personal Income/PCE Deflator (8:30am)
Chicago Purchasing Managers Index (9:45am)
Pending Home Sales (10:00am)
Friday
Employment Situation (8:30am)
Construction (10:00am)
ISM Manufacturing (10:00am)
Michigan's Surveys of Consumer Sentiment (10:00am)
Motor Vehicle Sales (4:00pm)