Economic Statistics for 27 Sep 12
The following US economic statistics were announced today:
Durable goods orders collapsed in August, posting a –13.2% decline overall, and a –1.6% decline ex-transportation. It is the worst monthly drop in 3 1/2 years. Aircraft orders fell –101.8%.
GDP growth for the second quarter for the final revision was unexpectedly revised down to 1.3% annualized. The GDP price index rose 1.6%
The Bureau of Economic Analysis says that corporate profits in the 2nd quarter decreased to $1.665 trillion annualized, compared to $1.671 trillion in the first quarter.
Initial jobless claims for last week were down a sharp 26,000 to 359,000, while the 4-week average dropped 4,500 to 374,000. Continuing claims fell 4,000 to 3.271 million.
The Kansas City Fed manufacturing index in August posted at 2 for September, down from 8 last month.
The Bloomberg Consumer Comfort Index rose to –39.6 from –40.8 last week.
The pending home sales index fell –2.6% in August to 99.2, erasing last month’s 2.4% increase.