Free Markets, Free People
Economic Statistics for 24 Jan 13
The following US economic statistics were announced today:
Initial jobless claims supposedly fell 5,000 to 330,000 for the week. Supposedly, because three states, including California, are merely estimates. Apparently the states didn’t get their number in on time. So, we are, according to the official data, at a 5-year low for unemployment claims. The 4-week average dropped to 351,750, and continuing claims reportedly fell 71,000 to 3.157 million, another 4.5 year low.
The Kansas City Fed Manufacturing Index fell to -2 in January, down 1 point from December.
The Conference Board’s index of leading indicators rose a sharp 0.5% in December, supposedly showing a nice economic surge in another 6 months or so, but this index has been very volatile of late.
The Bloomberg Consumer Comfort Index inched to a 3-month low of -36.4.
The PMI Manufacturing Index Flash is contradicting all the regional Fed reports, showing at 56.1 for January, up two points from December.