Free Markets, Free People

Economic Statistics for 15 May 14

Consumer prices rose 0.3% in April, with prices less food and energy–the “core” rate–rising 0.2%. On a year-over-year basis, the CPI is up 2.0%, while the core rate is up 1.8%.

Weekly initial jobless claims fell 24,000 to 297,000. The 4-week average fell 750 to 323,250. Continuing claims fell 9,000 to 2.667 million, a recovery low. Or what would be a recovery low had we ever had an actual recovery. But, I digress.

The General Business Conditions Index of the New York manufacturing survey made a rare jump of almost 18 points to 19.01 in May.

The General Conditions Index of the Philadelphia Fed Survey fell -1.2 points to 15.4 in May.

The Treasury Department reports that foreign demand for long-term U.S. securities was a net $4.0 billion in March.

The Fed reports that industrial production fell -0.6% in April, as capacity utilization in the nation’s factories fell to 78.6%. Manufacturing declined by -0.4%.

The National Association of Home Builders reports that the Housing Market Index fell -2 points to 45 in May.

E-Commerce retail sales in the 1st Quarter of 2014 rose 2.8%, versus 3.4% in the 4th Quarter of 2013.

The Fed’s balance sheet rose $33.5 billion last week, with total assets of $4.337 trillion. Total reserve bank credit rose by $18.0 billion.

The Fed reports that M2 money supply rose $22.6 billion in the latest week.

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