This week’s podcast is now available on the Podcast page.
January retail sales rose 0.2%, with sales less autos up 0.1%, and sales less autos and gas up 0.4%.
Import prices fell -1.1% in January, while export prices fell -0.8%. On a year-over-year basis, prices are down -6.2% for imports and -5.7% for exports.
December business inventories rose 0.1%, but a -0.6% plunge in sales drove the stock-to-sales ratio up to 1.39.
The University of Michigan’s Consumer Sentiment Index fell -1.3 points to 90.7.
Initial weekly jobless claims fell 16,000 to 269,000. The 4-week average fell 3,500 to 281,250. Continuing claims fell 21,000 to 2.249 million.
The Bloomberg Consumer Comfort Index rose 0.3 points to 44.5 in the latest week.
The Fed’s balance sheet rose $2.8 billion last week, with total assets of $4.486 trillion. Reserve bank credit rose $1.6 billion.
The Fed reports that M2 money supply fell by $-0.6 billion in the latest week.
The Fed’s Labor Market Conditions Index slipped to 0.4 in January, From December’s 2.9.
Wholesale inventories fell -0.1% in December, while a -0.3% decline in sales kept the stock-to-sales ratio at 1.32.
The Labor Department’s JOLTS report indicates that December job openings came in at 5.607 million.
The NFIB Small Business Optimism Index fell sharply to 93.9 in January, from December’s 95.2.
Redbook reports that last week’s retail sales kept sliding downwards to 0.6% on a year-ago basis, from the previous week’s 0.8%.
Dale has White People Problems, and Michael is completely unconcerned about an extinction-level asteroid event. Also, socialism is turning the country into a huge pile of fail that can’t even deliver safe water, and socialists think the fix is more socialism. It’s all on the Podcast Page.
The Labor Department reports a lackluster 151,000 net new jobs were created in January, but the unemployment rate fell to 4.9%. 502,000 people entered the labor force, bringing the labor force participation rate up a tick to 62.7%. Average hourly earnings increased by 0.5%, while the average workweek also increased 0.1 hours to 34.6 hours.
The nation’s trade deficit widened in December to $-43.4 billion, as exports continued to weaken by -0.3% while imports increased 0.3%.
Consumer credit rose a much stronger than expected $21.3 billion in December.
Chain stores that are reporting sales results today say January was a weak month, and some are issuing cuts in quarterly forecasts.
Non-farm Productivity sank to an annualized -3.0% decline in the 4th Quarter of 2015, as unit labor costs rose 4.5%.
Factory orders sank a very sharp 2.9% in December following November’s downwardly revised 0.7%. Core capital goods orders fell -4.3%.
The Challenger Job-Cut Report’s layoff count jumped to 75,114 in January, mainly due to Wal-Mart’s announcement of 154 store closures.
The Gallup Good Jobs rate slipped from 45.3% to 44.7% in January.
Initial weekly jobless claims rose 8,000 to 285,000 The 4-week average rose 2,000 to 284,750. Continuing claims fell 18,000 to 2.255 million.
The Bloomberg Consumer Comfort Index fell -0.4 points to 44.2 in the latest week.
The Fed’s balance sheet rose $1.2 billion last week, with total assets of $4.484 trillion. Reserve bank credit fell $-6.4 billion.
The Fed reports that M2 money supply rose by $57.9 billion in the latest week.
The ISM Manufacturing Index slipped by -1.8 points in January to 53.5. The PMI Services Index also slowed, down -1.1 points to 53.2.
The MBA reports that mortgage applications fell -2.6% last week, with purchases down -7.0% and refis up 0.3%.
The ADP Employment Report estimates that 205,000 private sector jobs were created in January.
The Gallup U.S. Job Creation Index fell -1 point to 29 in January.
Motor vehicle sales moved higher in January, to a 17.6 million annual rate. Domestic sales rose to 14.2 million.
Gallup’s U.S. Economic Confidence Index was unchanged at -11 in January.
Redbook reports that last week’s retail sales growth continued to weaken to 0.8% on a year-ago basis, from the previous week’s 1.0%.