Free Markets, Free People

Economic Statistics for 30 Apr 14

Real economic growth slowed to an annualized 0.1% in the 1st Quarter of 2014, well short of expectations. The GDP Price Index rose an annualized 1.3%. The ongoing sub-par economic growth we predicted in 2009 continues into its fifth year. As of yet, we have experienced no real recovery from the economic crash that began in October, 2008.

The Employment Cost Index hit a record low increase of 0.3% for 1Q 2014, a level only seen twice before in the 32 years of this index. On a year-over-year basis, the index is up 1.8%.

The Chicago Purchasing Managers Index made a big jump in April to 63.0 from 55.9 in March.

The MBA reports that mortgage applications plummeted -5.9% last week. Purchases fell -4.0% and re-fis -7.0%.

The Federal Open Markets Committee left interest rates unchanged today, with a Federal Funds Rate Target Level of 0% to 0.25%.

ADP’s estimate for private payroll growth in April is for 220,000 net new jobs.


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5 Responses to Economic Statistics for 30 Apr 14

  • “Real economic growth slowed to an annualized 0.1% in the 1st Quarter of 2014, well short of expectations.

    Well,  I expect those expectation were unexpectedly optimistic, much like a twelve year old kid expecting a Porsche Carrera for Christmas.

    • Another quarter in which my expectation of winning $70 million in a lottery has not been met.
       
      Who can predict these things!

  • Of the few words of truth to have ever parted Dear Leaders mouth, “I will fundamentally change this Nation” keep coming to mind.
    I call it Failure of the imagination as to what form “change” could take.
    It ain’t over yet kids, three more years of “fundamental change” might very well be irrecoverable.

    • It ain’t over yet kids, three more years of “fundamental change” might very well be irrecoverable.

      And the kids that voted for him (in their 20’s and 30’s and 40’s anyway…yes, there are KIDS that “old” physically) will be the recipients of the “whirlwind”.