Free Markets, Free People

Economic Statistics for 30 Mar 12

The following statistics were released today on the state of the US economy:

Personal income rose 0.2% last month, while personal spending rose 0.8%. On a year-over-year basis, income rose 3.2% while spending rose 4.1%.The PCE Price Index, an inflation indicator, rose 0.3% for the month, and 2.3% for the year. The core PCE rose 0.1% for the month, and 1.9% for the year. Analysts had expected significantly higher consumer spending increases.

The Reuter’s/University of Michigan’s consumer sentiment index continues to improve, rising to 76.2 in the latest 2-week period.

The Chicago PMI indicates business activity remains strong, though growth has slowed a bit, to 62.2 from last month’s 64. Any reading above 50 generally indicates economic expansion. This report is often seen as a precursor to the national PMI, due out Monday.

Dale Franks
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4 Responses to Economic Statistics for 30 Mar 12

  • My stocks took a beating this week, but gold also fell. Even as oil declined a little, so not sure what is going on. I am going to buy a little more in the stock market because I expect a rally IF the Scotus knocks down Obamacare.

  • During a decade as head of global cancer research at Amgen, C. Glenn Begley identified 53 “landmark” publications – papers in top journals, from reputable labs – for his team to reproduce. Begley sought to double-check the findings before trying to build on them for drug development.

    Result: 47 of the 53 could not be replicated. He described his findings in a commentary piece published on Wednesday in the journal Nature.

    “It was shocking,” said Begley, now senior vice president of privately held biotechnology company TetraLogic, which develops cancer drugs. “These are the studies the pharmaceutical industry relies on to identify new targets for drug development. But if you’re going to place a $1 million or $2 million or $5 million bet on an observation, you need to be sure it’s true. As we tried to reproduce these papers we became convinced you can’t take anything at face value.”

    Read more: In cancer science, many “discoveries” don’t hold up -Cancer news-

  • The patent being asserted by Sewell and his crew is USPTO Patent #1,042,012, first granted to the American Mathematical Society in October 1912, subsequently renewed, then acquired by Apple at an unknown date.

    The first entry among the patent’s Claims describes “A quadrilateral having all four interior angles of 90°, opposite sides that are parallel, and congruent diagonals that bisect each other.”

    Yes, Apple is asserting a patent on the rectangle.