Free Markets, Free People

Economic Statistics for 7 Nov 13

Chain stores reported October sales today. They were slightly positive, though the government shutdown seems to have had a negative effect.

3rd Quarter real GDP came is surprisingly high at an annual 2.8%, but inventory increases played an outsized role, contribution 0.83%. Personal consumption expenditure growth  declined from 1.8% last quarter to 1.5% in the 3rd quarter. The GDP Price Index rose 1.9%

Initial jobless claims fell 9,000 last week, to 336,000. The 4-week moving average fell 12,000 to 348,250. Continuing claims rose 4,000 to 2.868 million.

The Bloomberg Consumer Comfort Index was essentially unchanged at -37.9 for the week.

The government’s expanding student loan portfolio is inflating consumer credit, which was up $13.7 billion in September.

The Fed’s balance sheet rose $8.2 billion last week, with total assets of $3.852 trillion. Reserve Bank credit increased $7.6 billion.

The Fed reports that M2 Money Supply fell by $-7.8 billion last week.

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2 Responses to Economic Statistics for 7 Nov 13

  • Recovery Summer IV ends with a plunge …

    First, the labor force participation rate, which plunged from 63.2% to 62.8% – the lowest since 1978!

    But more importantly, the number of people not in the labor force exploded by nearly 1 million, or 932,000 to be exact, in just the month of October, to a record 91.5 million Americans! This was the third highest monthly increase in people falling out of the labor force in US history.