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Dale Franks

Dale Franks’ QandO posts

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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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Economic Statistics for 14 & 17 Aug 15

A hectic schedule prevented me from posting Friday’s economic data, so here it is, along with the releases from today.

14 Aug 15

Producer Prices for Final Demand rose 0.2% in July, with PPI-FD less food and energy rising 0.3%. On a year-over-year basis, PPI-FD is down -0.8 at the headline level, but up 0.6% at the core. The remaining set of data for PPI-FD are below:

PPI-FD less food, energy & trade services – M/M change: 0.2%
PPI-FD less food, energy & trade services – Y/Y change: 0.9%
PPI-FD Goods – M/M change: -0.1%
PPI-FD Goods – Y/Y change: -3.7%
PPI-FD Services – M/M change: 0.4%
PPI-FD Services – Y/Y change: 0.6%

The Fed reports that industrial production rose by 0.6% in July, while capacity utilization in the nation’s factories rose 0.3% to 78.0%. The prime factor in the month’s jump was a 10.6% surge in motor vehicle production.

The University of Michigan’s Consumer Sentiment Index index fell -0.2 points to 92.9 in August.

17 Aug 15

The Empire State Manufacturing Survey plunged deeply into negative territory for August, falling from 3.86 to -14.92. This is the weakest reding for this indicator since 2009.

The NAHB’s Housing Market Index rose 1 point to 61 in August, as new homes are becoming a source of strength for the economy.

E-Commerce retail sales in the 2nd Quarter of 2015 rose a strong 4.2%, with a year-on-year gain of 14.1%.

A strong dollar was a plus for foreign investment in Jun, as net foreign demand for US securities rose $10.1 billion to $103.1 billion.

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