Free Markets, Free People

Economic Statistics for 21 May 15

Existing home sales fell -3.3 % in April to a worse-than-expected 5.04 million annual rate, as weakness continues in the housing sector.

The Philadelphia Fed Business Outlook Survey fell -0.8 points in May to 6.7.

The Conference Board’s index of leading economic indicators jumped 0.7% in April, mainly on increases in building permits. Oddly, the jump in permits hasn’t yet shown up as strength in the constructions sector.

The Kansas City Fed Manufacturing Index fell -8 points in May to a deeply negative -13.

The Chicago Fed National Activity Index improved from -0.42 in March to a still-negative -0.15 in April.

May’s flash reading for the PMI manufacturing index fell -0.4 points to a 16-month low of 53.8.

Initial weekly jobless claims rose 10,000 to 274,000. The 4-week average fell 5,500 to 266,250. Continuing claims fell 12,000 to 2.211 million.

The Bloomberg Consumer Comfort Index slipped -1.1 points in the May 17 week to 42.4.

The Fed’s balance sheet fell $-20.8 billion last week, with total assets of $4.480 trillion. Reserve bank credit rose $4.0 billion.

The Fed reports that M2 money supply rose by $22.8 billion in the latest week.

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