Free Markets, Free People
Economic Releases 31 Aug 11
I generally tweet the day’s economic statistics, and compile them on Google+. It occurs to me that I can just do that here. Don’t know why I haven’t thought of this before…
Anyway, here’s the day’s economic statistics.
MBA Purchase Applications fell -12.2% in the latest week, led by drops in refinancing applications. The plus to this report is that purchase applications rose
Challenger reports that layoff announcements fell to 51,114 from 66,414 last month. These numbers are not seasonally adjusted, so the monthly comparison is a bit difficult. The trend is down from a year ago, however. Most layoffs were centered in government, especially the military.
ADP is calling for a 91,000 rise in private payrolls for August, down from last month’s 109,000. This implies a weaker Employment Situation than last month’s when we get that report from BLS on Friday.
The Chicago PMI was 56.5, indicating that business slowed slightly in the Chicago area this month. This is generally seen as a predictor of the national index, which will be released tomorrow.
July was a very strong month for the manufacturing sector with factory orders up 2.4%.