Free Markets, Free People


Economic Statistics for 19-20 Dec

The Bloomberg Consumer Comfort Index moved into the minus 20s for the first time in 10 weeks, at -29.4.

Initial jobless claims rose 11,000 last week, to 379,000. The 4-week moving average rose 14,750 to 343,500. Continuing claims rose 94,000 to 2.884 million. These are all holiday numbers, though, so the week-to-week number is pretty volatile.

The Philadelphia Fed Survey’s General Business Conditions Index rose 0.5 points to 7.0 in December.

Existing home sales fell a sharp -4.3% in November, to a 4.9 million annual rate.

The Conference Board’s index of leading indicators rose 0.8% in November.

The Commerce Department’s final GDP revision for the 3rd Quarter was revised sharply upwards to a 4.1% annual rate. The GDP Price Index remained unrevised at 2.0%. Much of the revision came from increases in personal consumption expenditures, higher exports, and lower imports.

3rd Quarter corporate profits were revised upwards to $1.869 trillion vice the initial estimate of $1.872 trillion.

The Atlanta Fed Business Inflation Expectations Survey was unchanged at 1.9% in December.

The Kansas City Fed Manufacturing Index fell sharply in December to -3 from last month’s 7.

The Fed’s balance sheet rose $14.1 billion last week, with total assets of $$4.008 trillion. Reserve Bank credit increased $53.0 billion.

The Fed reports that M2 Money Supply increased by $17.5 billion last week.


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