Economic Statistics for 6 Feb 14
Chain stores sales are being reported today, and show significant weakness in January, with year-on-year sales rates sharply lower than December.
The Challenger Job-Cut Report shows a jump to 45,107 layoffs in January, versus December’s 30,623.
The Gallup US Payroll to Population rate declined to 42.0% in January from 42.9% in December.
The US trade deficit increased to $38.7 billion in December from $34.6 billion in November, mainly from a -1.8% decline in exports.
Initial jobless claims fell 20,000 to 331,000. The 4-week average rose 1,000 to 334,000, while continuing claims rose 15,000 to 2.964 million.
Non-farm productivity rose at a healthy 3.2% annualized rate, while unit labor costs declined -1.6% annualized.
The Bloomberg Consumer Comfort Index fell -1.3 points to -33.1 in the latest week.
The Fed’s balance sheet rose $7.1 billion last week, with total assets of $4.109 trillion. Reserve Bank credit increased $4.2 billion.
The Fed reports that M2 money supply rose by $25.5 billion in the latest week.