Free Markets, Free People

Economic Statistics for 23 Jan 14

Initial jobless claims were unchanged at 326,000. The 4-week average fell 3,500 to 331,500. Continuing claims rose 34,000 to 3.056 million.

Sales of existing homes rose 1.0% in December to a lower-than-expected 4.87 million annual rate.

The Markit PMI manufacturing index flash reading for January dropped –0.7 points to 53.7.

The Chicago Fed National Activity Index fell to 0.16 in December from a revised 0.69.

The FHFA House Price Index rose 0.1% in November, a 7.6% increase from a year ago.

The Bloomberg Consumer Comfort Index was unchanged at -31 in the latest week.

The Conference Board’s index of leading indicators rose 0.1% in December, after a strong 1.0% increase in November.

The Kansas City Fed Manufacturing Index rose from -3 to 5 in January.

The Fed’s balance sheet rose $26.4 billion last week, with total assets of $4.098 trillion. Reserve Bank credit increased $37.7 billion.

The Fed reports that M2 money supply rose by $26.0 billion in the latest week.

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One Response to Economic Statistics for 23 Jan 14

  • Get ready for the next era in retail—one that will be characterized by far fewer shops and smaller stores.

    On Tuesday, Sears said that it will shutter its flagship store in downtown Chicago in April. It’s the latest of about 300 store closures in the U.S. that Sears has made since 2010. The news follows announcements earlier this month of multiple store closings from major department stores J.C. Penney and Macy’s.
    Further signs of cuts in the industry came Wednesday, when Target said that it will eliminate 475 jobs worldwide, including some at its Minnesota headquarters, and not fill 700 empty positions.

    Experts said these headlines are only the tip of the iceberg for the industry, which is set to undergo a multiyear period of shuttering stores and trimming square footage.
    … and yeah, Recovery Summer V is just around the corner