Dale Franks’ QandO posts
Real GDP in the 3rd Quarter of 2015 rose a disappointing 1.5% annualized, while the GDP Price index rose 1.2%.
September’s pending home sales index fell -2.3% to a reading of 106.8.
Both personal income and spending rose 0.1% in September, while the PCE Price Index fell -0.1% overall, and rose 0.1% less food and energy.
The employment cost index for the 3rd Quarter of 2015 rose a sizable 0.6%, but the year-on-year rise is unchanged at 2.0%.
The University of Michigan’s Consumer Sentiment Index fell -2.1 points to 90.0 in October.
The Chicago PMI surged 7.5 points from September and 6.0 points over consensus to 56.2 in October.
Initial weekly jobless claims rose 1,000 to 260,000. The 4-week average fell 4,000 to 259,250. Continuing claims fell 100,000 to 2.144 million.
The Bloomberg Consumer Comfort Index fell -0.7 points to 42.8 in the latest week.
The Fed’s balance sheet fell $-12.0 billion last week, with total assets of $4.489 trillion. Reserve bank credit rose $0.9 billion.
The Fed reports that M2 money supply fell by $-7.6 billion in the latest week.
The MBA reports that mortgage applications fell -3.5% last week, with purchases down -3.0% and refis down -4.0%.
September’s deficit in international trade in goods declined to $-58.6 billion from August’s $-67.2 billion. Exports rose 3.1% and imports fell -2.5%.
The Federal Open Markets Committee left interest rates unchanged today, with a Fed Funds target rate of 0.0%-0.25%.
Durable Goods order fell again in September, down -1.2% overall, with ex-transoportation orders down -0.4% and core capital goods down -0.3%. On a year over year basis:
Core capital goods: -7.3%
The Case-Shiller home price index rose a slight 0.1% in August, and is up 5.1% on a year-ago basis.
The PMI services flash reading for October fell -1.2 points to 54.4.
The Conference Board’s consumer confidence index fell sharply from 103.0 to a worse than expected 97.6 in October.
The Richmond Fed’s Manufacturing Index rose from -5 to a still-negative -1 in October. All five regional Fed economic activity reports are negative.
The State Street Investor Confidence Index slipped -1.7 points, but remained healthy at 114.3.
Redbook reports that last week’s retail sales rose to 1.5% on a year-ago basis, from the previous week’s 1.3%, as slow improvement continues.
New home sales plunged to a much worse than expected 468,000 annual rate in September, as supply jumped from 4.9 to 5.8 months.
The Dallas Fed Manufacturing Survey fell deeper into negative territory, falling to -12.7 in October from September’s -9.5.
I had enough material to produce another video from the Orange County International Auto Show, so I did.
Trey Gowdy and his nefarious allies in Congress have been routed. Queen Hillary I can now proceed unimpeded to her coronation. We talk about it on this week’s podcast.
Existing home sales rose a strong 4.7% in September to a 5.55 million annual rate. On a year-over-year basis, sales are up 8.8%.
The FHFA House Price Index rose 0.3% in August, and is up 5.5% on a year-ago basis.
The Conference Board’s Index of Leading Indicators fell back -0.2% in September, mainly due to the fall in building permits.
The Kansas City Fed Manufacturing Index almost rose out of negative territory, rising from -8 to -1 in October.
The Chicago Fed National Activity Index rose from -0.41 to -0.37 for September, still indicating broad weakness in the economy.
Initial weekly jobless claims rose 4,000 to 259,000. The 4-week average fell 2,000 to 263,250. Continuing claims rose 6,000 to 2.170 million.
The Bloomberg Consumer Comfort Index fell -1.7 points to 43.5 in the latest week.
The Fed’s balance sheet fell $-3.3 billion last week, with total assets of $4.501 trillion. Reserve bank credit rose $6.0 billion.
The Fed reports that M2 money supply fell by $-18.7 billion in the latest week.
A light week of economic stats starts with the Housing Market index, which rose 2 points to 64 in October.
September housing starts rose a much stronger than expected 6.5% to a 1.206 annual rate, but permits were weak, falling -5.0% to 1.103 million, annualized.
Redbook reports that last week’s retail sales improved to 1.3% on a year-ago basis, from the previous week’s 1.1%. Still weak, though.
So, I went to the Orange County Auto Show yesterday, and I made a video of it, which is mainly me saying my usual horrible things about various cars. I’ve also monetized it, so I’ll need you to click on those ads as if you life depended on it.
Which it does.