Free Markets, Free People

Economic Statistics for 12 May 16

April import prices rose 0.3%, and export prices rose 0.5%. On a year-over-year basis prices are down -5.7% for imports and -5.0% for exports.

Initial weekly jobless claims rose 20,000 to 294,000. The 4-week average rose 10,250 to 268,250. Continuing claims rose 31,000 to 2.161 million.

The Bloomberg Consumer Comfort Index fell -0.3 points to 41.7 in the latest week.

The Fed’s balance sheet rose $1.1 billion last week, with total assets of $4.478 trillion. Reserve bank credit rose $1.1 billion. The Fed’s balance sheet has been stable for months, but I continue to monitor it for signs that the Fed is unwinding the $4 trillion in debt it has absorbed since 2008.

The Fed reports that M2 money supply rose by $28.5 billion in the latest week.

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