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Economic Statistics for 15 Nov 12

The following US economic statistics were announced today:

Initial claims for unemployment rose a massive 78,000 last week, to 439,000. The 4-week moving average rose 11,750 to 383,750. Continuing claims rose 171,000 to 3.334 million.

The Bloomberg Consumer Comfort Index continues to rise, coming in at –33.1 versus –34.4 at last reading.

The consumer price index in October increased 0.1%, while the core rate,excluding food and energy, rose 0.2%. On a year-over-year basis, the CPI rose 2.2%, while the core rate rose 2.0%.

The general business conditions index of the Philadelphia Fed’s Business Outlook Survey for November plunged to –10.7 from 5.7 the prior month. The decline stems mainly from the impact of Hurricane Sandy.

The Empire State manufacturing index in November rose to –5.22 from –6.16, showing little impact from Sandy, unlike the Philly Fed.

Dale Franks
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