Free Markets, Free People
Economic Statistics for 4 Oct 12
The following US economic statistics were announced today:
Chain store sales are reporting mainly positive results this morning, but the rate of sales growth seems to be slowing. Still, the positive reports are helping sales of chain retailers’ stock this morning.
The Challenger Job-Cut Report indicates layoffs remain near recovery lows, at 33,816 for September.
Initial claims for unemployment rose 8,000 to 367,000 last week. The 4-week average rose 1,000 to 375,000. Continuing claims continue to fall, down 13,000 to 3.285 million.
Consumers continue to become more optimistic, as the Bloomberg Consumer Comfort Index rose 3.3 points to -39.6.
Factory orders were down a very sharp –5.2% in August, mainly on a drop in aircraft orders. Ex-aircraft, orders actually rose 0.7%.