Economic Statistics for 14 Mar 13
Here are today’s statistics on the state of the economy:
Initial jobless claims fell 10,000 to 332,000. The 4-week average fell 2,750 to 346,750, while continuing claims fell 89,000 3.024 million. The 4-week average and continuing claims are now at a recovery low.
The Producer Price Index rose 0.7% in February, while the core PPI, ex-food and –energy, rose 0.2%. On a year-over-year basis the PPI is up 1.8%, while the core rate is up 1.7%.
The nation’s current account deficit for the fourth quarter was a less-than-expected $110.4 billion.
The Bloomberg Consumer Comfort Index rose 0.8 points to -31.6 in the latest week.
For the March 13 week, the Fed’s assets rose $56.6 billion, with the Fed’s balance sheet now totaling $3.167 trillion.
The Fed reports that M2 money supply rose by $6.6 billion in the latest week.
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Dale Franks
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“On a year-over-year basis the PPI is up 1.8%”
Someday it will be above the certificate of deposit rate, hopefully.
The Atlantic had an article about poor people saving more, and all of the elite readers were guffawing at poor people ever having enough to invest in the stock market.
I had to pop up and say “whatever happened to saving money in banks?”
Oh, and saving up money to invest in a small business is just as viable as buying Apple stock.
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