Free Markets, Free People

Dale Franks

Dale Franks’ QandO posts

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Economic Statistics for 29 Jul 15

The MBA reports that mortgage applications rose 0.8% last week, with purchases down -0.1% and refis up 2.0%.

The Pending Home Sales index unexpectedly fell a sharp -1.8% in June, to 110.3. Analysts expected a 0.4% increase.

The Fed took no interest rate action at the today’s FOMC meeting and saw no change in the pace of “moderate” economic growth. 


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Economic Statistics for 28 Jul 15

The S&P Case-Shiller  Home Price Index fell -0.2% in May, catching analysts by surprise. The Index is up 4.9% on a year-ago basis.

July’s PMI Services Flash reading is up 0.4 points from the June final, coming in at 55.2.

The Conference Board’s Consumer Confidence Index fell sharply lower in July, falling to 90.9 from 101.4 in June.

The Richmond Fed Manufacturing Index for July came in above analysts’ expectations, rising 7 points to a reading of 13.

The State Street Investor Confidence Index for July fell sharply to 114.6 from June’s unusually high reading of 127.0.

Redbook reports that last week’s retail sales continued to fall, down to 1.0% on a year-ago basis, from the previous week’s 1.2%.


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Economic Statistics for 23 Jul 15

The Kansas City Fed Manufacturing Index continues to show deep contraction, though it rose to -7 from -9 in July.

The Conference Board’s Index of Leading Indictors rose 0.6% in June, pushed higher by a surge in Housing Permits.

The Chicago Fed National Activity Index moved back into positive territory in June, rising from -0.17 to 0.8.

Initial weekly jobless claims fell a startling 26,000 to 255,000, a 42-year low. The 4-week average fell 4,000 to 278,500. Continuing claims 9,000 to 2.207 million. Auto retooling, and temporary layoffs, always make jobless claims a very tricky number in July. 

The Bloomberg Consumer Comfort Index dropped -0.8 points lower to 42.4 in the latest week.

The Fed’s balance sheet rose $11.7 billion last week, with total assets of $4.544 trillion. Reserve bank credit rose $12.0 billion.

The Fed reports that M2 money supply rose by $5.9 billion in the latest week.


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Economic Statistics for 16-17 Jul 15

I missed posting yesterday, so this post will be a bit longer than most.

The Philadelphia Fed Surveys’s big jump in June was a one-time blip, as the July index fell to 5.7 from 15.2.

The housing market index was unchanged at 60 in July, but it is still the strongest reading since November 2005.

The Treasury reports that Net Foreign Demand for Long-Term US Securities jumped $93.0 billion in May on strong foreign interest in both US Treasuries and corporate bonds.

Consumer inflation rose 0.3% in June, with the core rate—less food and energy—up 0.2%. On a year-over-year basis, inflation is up just 0.1% overall, but up 1.8% at the core.

Strong demand for apartment units drove housing starts up 9.8% in June at a 1.174 million annual rate. Building permits, an indicator of future activity, jumped 7.4% overall to a 1.343 million rate. 

The University of Michigan’s Consumer Sentiment Index fell to 93.3 in July, from June’s reading of 96.1.

Initial weekly jobless claims fell 15,000 to 281,000. The 4-week average rose 3,250 to 282,500. Continuing claims fell 112,000 to 2.215 million.

The Bloomberg Consumer Comfort Index fell -0.3 points to 43.2 in the latest week.

The Fed’s balance sheet rose $12.3 billion last week, with total assets of $4.494 trillion. Reserve bank credit rose $7.0 billion.

The Fed reports that M2 money supply rose by $12.6 billion in the latest week.


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