Free Markets, Free People

Economic Statistics for 1 Oct 14

September motor vehicle sales fell a sharp -6.3% to a worse-than-expected 16.4 million annual rate. The domestic sales rate was 13.2 million annualized. September faced a tough comparison to a very strong August, but sales were expected to be stronger.

ADP’s estimate for private payroll growth for September is 213,000.

Markit’s PMI Manufacturing Index for September fell just -0.4 points to a still-strong 57.5.

The ISM Manufacturing Index fell -2.4 points to 56.6.

Construction spending fell -0.8% in August after a 1.2% increase in July. Market expectations were for a 0.5% increase. On a year-over-year basis, spending rose 5.0%.

The J.P. Morgan Global Manufacturing PMI edged down -0.4 points to a still-positive 52.2.

Gallup’s US Job Creation Index reached a six-year high of 30 in September.

The MBA reports that mortgage applications fell -0.2% last week, with purchases unchanged, but refis down -0.3%.


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