Free Markets, Free People
Economic Statistics for 29 Dec 11 (Updated)
Today’s economic statistical releases:
In a Dec 24 week clouded by the need for estimates, initial unemployment claims rose 15,000 to 381,000. Despite that, the 4-week moving average fell 5,750 to a 375,000, the eighth decline in 9 weeks.
The Chicago Purchasing Managers Index remains steady at 62.5 this month, but new orders are especially strong at 68.0.
The Bloomberg Consumer Comfort Index dropped to -47.5 last week, down from a reading of -45.0 last week.
Low prices and mortgage rates are boosting the housing sector, pushing the pending home sales index up 7.3% to 100.1.
The Kansas City Fed Manufacturing Index was supposed to be released this morning, but apparently, the Fed is delaying the release. Probably holiday-related issues.
UPDATE: The Kansas City Fed Manufacturing Index was much lower than expected, coming in at -4, vice analysts’ expectations of 6.