Economic Statistics for 5 Oct 11
Today’s economic statistical releases:
The Mortgage Bankers Association reports that mortgage applications fell -4.3% for the week, with purchases down -0.8%, and refinance applications falling -5.2%.
The Challenger job cut report indicates there were 115,730 layoffs last month, swollen by 30,000 jobs at Bank of America and a military troop cut of 50,000.
ADP estimates private payrolls rose 91,000 in September. We’ll see how close that estimate is with the release of the Employment Situation on Friday.
ISM Non-Manufacturing Index fell slightly to 53 from 53.3 last month, however, new and backlog orders both rose, giving some hopes for better reports in the future.