Free Markets, Free People

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.

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5 Responses to Economic Statistics for 6 Feb 14

  • My personal survey of semiconductor companies indicates that they anticipate a down turn and are now trimming their staffs to ride it out.

    • Well, according to the approved White House methodology, that means the unemployment rate at semiconductor companies will be down!   That’s great news!

      • That would be funny if I weren’t one of those trimmed.

        • Eeek, so sorry man…..been there, ain’t nothing funny about it even in a good market.    Led me to go freelance for 8 years but that has to be harder in hardware than software.
          Best of luck in finding something else.