Free Markets, Free People
Economic Statistics for 1 Dec 11
Today’s economic statistical releases:
Today’s chain-store results do NOT confirm the widespread anecdotal reports of a strong Black Friday week, trending at a same-store year-on-year 2.5%.
Initial jobless claims rose 6,000 to 402,000 in a short Thanksgiving week, which clouds the results.
The Bloomberg Consumer Comfort Index remained steady at -50.2 compared to the previous -50.1.
The ISM Manufacturing Index rose to 52.7, and many of the sub-indexes rose sharply, a good sign for the economy.
Construction spending rose 0.8% last month, which is nice, even though it’s rising from an extremely depressed base.