Free Markets, Free People

Dale Franks

Dale Franks’ QandO posts

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Economic Statistics for 2 Sep 15

The MBA reports that mortgage applications rose 11.3% last week, with purchases up 4.0% and refis up a very strong 17%.

The ADP Employment report shows only 190,000 net new private sector jobs were created in July.

Following the upward revision to 2nd Quarter GDP, productivity for the Quarter has been revised up to 3.3%, with labor costs down -1.4%.

Gallup’s U.S. job creation index held unchanged at 32 in August for the 4th consecutive month. 

Pulled down by petroleum and coal products, factory orders rose a lower-than-expected 0.4% overall in July, but the durable good orders component rose a strong 2.2%.

The Fed’s Beige Book reports that 11 of 12 districts report only moderate to modest growth with the Cleveland district reporting only slight growth.


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Economic Statistics for 1 Sep 15

Motor vehicle sales rose a strong 1.5 percent to a 17.8 million annual rate in August.

Redbook reports that last week’s retail sales fell to 1.3% on a year-ago basis, from the previous week’s 1.7%, as sales weakness continues.

Markit’s PMI Manufacturing Index fell -0.8 points in August to 53.0.

The ISM Manufacturing Index fell -1.6 points to a lower-than-expected 51.1 in August

Construction Spending rose 0.7% in August, with a year-over-year increase of 13.7%.

The Gallup Economic Confidence Index fell -1 point to -13 in August, an 11-month low.


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Economic Statistics for 28 Aug 15

In July, personal income rose 0.4%, consumer spending rose 0.3%, and the PCE Price Index rose 0.1% both overall and at the core. On a year-over year basis, PCE Price Index rose 0.3% overall, and 1.2% ex-food and energy.

The University of Michigan’s Consumer Sentiment Index for August fell -1.0 points to 91.9.


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Economic Statistics for 25 Aug 15

Redbook reports that last week’s retail sales remained weak, but rose to 1.7% on a year-ago basis, from the previous week’s 1.6%.

The FHFA House Price Index rose 0.2% in June. On a year-over-year basis, the index is up 5.6%.

In contrast to the FHFA, the S&P/Case-Shiller home price index fell -0.1% in June, and is up 5.0% on a year-over-year basis.

The PMI Services Flash for August is unchanged from the final July number, at 55.2.

New home sales had a solid rise in June, up 5.4% to a 507,000 annual pace, bringing the surging year-over-year rate to 26%.

The Conference Board’s consumer confidence index took a huge, 10.6-point jump in August to 101.5, as assessment of the labor market improved.

The Richmond Fed Manufacturing Index plunged -13 points to a disappointing reading of 0, well below expectations.

The State Street Investor Confidence Index eased to 108.7 in August from 114.6 in July.


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Economic Statistics for 20 Aug 15

The MBA reports that mortgage applications rose 3.6% last week, with purchases down -1.0% but refis up 7.0%.

Consumer prices rose 0.1% in July, with the core CPI up 0.1% as well. On a year-over-year basis, the CPI is up 0.2% overall, and 1.8% at the core.

The Philadelphia Fed Survey rose from 5.7 to 8.3 in August, indicating the huge plunge in Tuesday’s Empire State survey was a fluke.

Existing home sales rose 2.0% in July to a greater-than-expected 5.59 million annual rate. Sales are up 10.3% from last July.

The Conference Board’s index of leading economic indicators fell 0.2% in July.

Initial weekly jobless claims rose 3,000 to 277,000. The 4-week average rose 5,250 to 271,500. Continuing claims fell 24,000 to 2.254 million.

The Bloomberg Consumer Comfort Index rose 0.4 points to 41.1 in the latest week.

The Fed’s balance sheet fell $-2.0 billion last week, with total assets of $4.487 trillion. Reserve bank credit rose $10.5 billion.

The Fed reports that M2 money supply rose by $26.5 billion in the latest week.


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