Economic Statistics for 10 Dec 15
November import prices fell -0.4%, and export prices fell -0.6%. On a year-over-year basis, prices are down -9.4% for imports and -6.3% for exports.
The Census Bureau quarterly services survey shows information revenue rose 0.7% in the 3rd Quarter, and is up 3.7%, year-over-year.
Rising Medicare expenses helped sent the government’s budget to a $-64.6 billion deficit in November. The fiscal year deficit to date is now up 12.6% over the same period last year.
Initial weekly jobless claims rose 13,000 to 282,000. The 4-week average rose 1,500 to 270,750. Continuing claims rose 82,000 to 2.243 million.
The Bloomberg Consumer Comfort Index rose 0.5 points to 40.1 in the latest week.
The Fed’s balance sheet rose $2.4 billion last week, with total assets of $4.480 trillion. Reserve bank credit rose $1.5 billion. Clearly, the Fed has stopped the Quantitative easing, and its balance sheet has topped off. We continue to monitor this report for indications of monetary tightening through selling the Fed’s current top-heavy portfolio of securities.
The Fed reports that M2 money supply fell by $-38.8 billion in the latest week.