Free Markets, Free People

Economic Statistics for 26 Nov 14

The MBA reports that mortgage applications fell -4.3% last week, with purchases down -10.0% and refis down -4.0%.

Initial weekly jobless claims rose 21,000 to 313,000. The 4-week average rose 6,250 to 294,000X. Continuing claims fell 17,000 to 2.316 million.

October durable goods orders rose 0.4%, almost entirely on a 45.3% increase in defense aircraft orders, without which, orders actually fell by a sharp -0.9%. On a year-over-year basis, orders are up 5.5%, and ex-transportation orders are up 6.4%.

Both personal income and spending rose 0.2% in October, while the PCE Price index rose 0.1% at the headline level and 0.2% at the core.

The Chicago PMI fell -5.4 points in November to a still-strong 60.8.

The Bloomberg Consumer Comfort Index rose 2.2 points last week to 40.7, the highest level since December 2007.

The Reuter’s/University of Michigan’s consumer sentiment index fell -0.6 points to 88.8 in November.

New home sales in October came in at a weaker-than-expected 458,000 annual rate.

The pending home sales index fell -1.1% to 104.1 in October.

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3 Responses to Economic Statistics for 26 Nov 14

  • Faced with potential starvation in the spring of 1623, the colony decided to implement a new economic system. Every family was assigned a private parcel of land. They could then keep all they grew for themselves…

    This change, Bradford wrote, had very good success, for it made all hands very industrious, so as much more corn was planted than otherwise would have been. Giving people economic incentives changed their behavior…

    Once the Pilgrims in the Plymouth Plantation abandoned their communal economic system and adopted one with greater individual property rights, they never again faced the starvation and food shortages of the first three years. It was only after allowing greater property rights that they could feast without worrying that famine was just around the corner.

  • Star Wars: Episode VII Official Trailer – The Force Awakens (2015) – J.J. Abrams Movie HD

  • Black Friday Lays An Egg.
    Darn, after the “huge success” of Recovery Summer V, I’d expect more. /snark