Free Markets, Free People

Economic Statistics for 27 Dec 11

Today’s economic statistics releases:

S&P/Case-Shiller reports home prices are still trending downwards, with prices down -0.6% last month, following last month’s -0.7% decline.On a year-over-year basis, prices have dropped -3.4%.

Optimism on jobs and income resulted in a 9.3 point rise in consumer confidence, with the index at 64.5 for December.

The Richmond Fed Manufacturing Index came in at 3, showing mildly positive manufacturing expansion in the Richmond Fed district. This confirms similar readings from both the Philly Fed and Empire State surveys, both of which also showed mild manufacturing expansion. Conversely, the Dallas Fed reports that manufacturing activity in Texas declined in December as the general business activity index dropped to -3.0 from 3.2 in last month.

Investor confidence remains steady according to the State Street Investor Confidence Index, which holds steady at 99.3.

Dale Franks
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4 Responses to Economic Statistics for 27 Dec 11

  • does anyone really trust those investor and consumer confidence numbers? Are they really measuring anything?

  • Hey, sorry for the threadjack, but is there any hope for you guys who are still in California? It seems to me that the state is bound and determined to become a wasteland. Here is parts of an article from Washington Times:

    California also became the first state in the nation to require a prescription for obtaining any drug containing dextromethorphan, an ingredient found in many popular over-the-counter cough suppressants, including Robitussin, NyQuil and Dimetapp.

    Voter identification continued to be a hot topic for legislators in 2011. Four states — Kansas, Rhode Island, Tennessee and Texas — approved laws requiring voters to present photo identification before casting ballots.

    Employers will be required to use E-Verify to determine the eligibility of their employees starting Jan. 1 in four states — Louisiana, Tennessee, South Carolina and Georgia. In California, however, legislators bucked the trend by prohibiting any state or local government from requiring employers to use the E-Verify program unless required by federal law or as a condition of receiving federal funds.

    In education, California approved two hotly debated laws slated to take effect on New Year’s Day. The California Dream Act expands eligibility for institutional grants and fee waivers to students who are in the country illegally at the state’s university systems and community colleges.

    California also becomes the first state to mandate the teaching of gay history. A new law requires schools to include in the public-school curriculum the contributions of lesbian, gay, bisexual and transgender Americans, along with disabled persons and others. The statute, which has no age limit, also bans instructional material that discriminates against those groups.

  • “Through some process, socialism has apparently increased the discount rate to the point where the future is consumed for the sake of the present. Not only is investment taxed to feed consumption, tomorrow is hocked to pay for today.”