Free Markets, Free People

Economic Statistics for 15 Jun 12

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

The Empire State Manufacturing Survey’s General Business Conditions Index fell from 17.09 last month to 2.29. as growth slowed sharply for the month.

The Treasury’s report of international capital flows to the US shows the net inflow of long-term securities rose $25.6 billion in April. Given the situation in the Euro Zone, demand for US securities is surprisingly soft.

The Consumer Sentiment index dropped a surprisingly large 5.2 points to 74.1, a 2012 low, on weakness in both expectations and current conditions.

The Fed reports that Industrial production fell by -0.1% in May. Capacity utilization also fell to 79.0% from 79.2% in April.

Dale Franks
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3 Responses to Economic Statistics for 15 Jun 12

  • The jobs numbers were unexpected.  Will the revision be unexpected as well?
    “The unemployment rate that counts discouraged workers rose as well, swelling to 14.8 percent form 14.5 percent in April.”

  • Nice breakdown. Glad you noticed that household survey uptick. Along with thanking the stars we aren’t Spain (@25% unemployment, 50%+ youth unemployment) we can smile easily that everything will just turn out ducky.

  • US and European regulators are essentially forcing banks to buy up their own government’s debt—a move that could end up making the debt crisis even worse, a Citigroup analysis says.
    Regulators are allowing banks to escape counting their country’s debt against capital requirements and loosening other rules to create a steady market for government bonds, the study says.
    While that helps governments issue more and more debt, the strategy could ultimately explode if the governments are unable to make the bond payments, leaving the banks with billions of toxic debt, says Citigroup strategist Hans Lorenzen.