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Economic Statistics for 31 Jan 13

The following US economic statistics were announced today:

The Bloomberg Consumer Comfort index continued its decline, falling to -37.5 this week. The index has lost 5.7 points so far this year.

The Chicago Purchasing Managers Index rose to 55.6 for January, on increases in new orders and production.

The Employment Cost Index rose 0.5% in the 1st Quarter, while the year-over-year increase was 1.9%, as wage inflation remains restrained.

The Challenger Job-Cut Report shows a total of 40,430 announced layoffs for January.

Initial jobless claims rose 38,000 to 360,000 last week, erasing last week’s sharp decline. The 4-week average fell 7,000 to 352,000. Continuing claims rose 22,000 to 3.197 million.

Personal income rose a sharp 2.6% in December, while consumer spending rose 0.2%. The PCE Price index, an inflation measure, was unchanged at both the headline and core levels. On a year-over-year basis, personal income rose 6.9%, while spending rose 3.6%. The PCE price index rose 1.3%, with a core rate increase of 1.4%.

Dale Franks
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