Free Markets, Free People

Dale Franks

Dale Franks’ QandO posts

Economic Statistics for 29 Jul 16

The preliminary estimate for 2nd Quarter GDP is an anemic 1.2% annualized rate. The GDP Price index rose to a 2.2% rate. In addition, 1st Quarter GDP was revised downwards to 0.8% annualized.

The Employment Cost index rose 0.6% in the 2nd Quarter, and is up 2.3% from a year ago.

The University of Michigan’s Consumer Sentiment Index rose 0.5 points to 90.0 in July.

The Chicago Purchasing manager’s Index fell a full point to 55.8 in July.


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Economic Statistics for 28 Jul 16

The deficit in America’s international trade in goods expanded to $-63.3 billion as exports rose 0.9% but imports rose 1.8% in June.

Wholesale inventories are unchanged in the preliminary July report.

The Kansas City Fed Manufacturing Index for July dropped from 2 to -6.

Initial weekly jobless claims rose 14,000 to 266,000. The 4-week average fell 1,000 to 256,500. Continuing claims rose 7,000 to 2.139 million.

The Bloomberg Consumer Comfort Index was unchanged at 42.9 in the latest week.

The Fed’s balance sheet fell $-16.5 billion last week, with total assets of $4.465 trillion. Reserve bank credit fell $-4.3 billion.

The Fed reports that M2 money supply rose by $34.7 billion in the latest week.


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Economic Statistics for 27 Jul 16

The Federal Open Markets Committee Voted to keep short-term interest rates unchanged today, with a Fed Funds target rate of 0.25%-0.5%.

June factory orders plunged a steep -4.0%, with ex-transportation orders down -0.5%, but core capital goods orders rose 0.2%. On a year-over-year basis, orders are down -6.4% overall, with ex-transportation orders down -3.6% and core capital goods down -3.7%.

The Pending Home Sales Index rose 0.2% in June, to 111.0.

The MBA reports that mortgage applications fell -11.2% last week, with purchases down -3.0% and refis down -15.0%.


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Economic Statistics for 26 Jul 16

The Dallas Fed Manufacturing Survey rose from -7.0 to 0.4 in July.

New home sales in June were much higher than expected, at a 592,000 annual rate that is 25% higher than a year ago.

The S&P/Case-Shiller home price index fell -0.1% in May, but remains 5.2% higher than a year ago.

The PMI Services flash number for July fell -0.4% to 50.9.

The Conference Board’s consumer confidence index fell -0.7 points to 97.3 in July.

The Richmond Fed Manufacturing index jumped from -7 to 10 in July.

The State Street Investor Confidence Index fell -7.7 points to to 98 in July. 

Redbook reports that last week’s retail sales growth slowed to 0.4% on a year-ago basis, from the previous week’s already weak 0.6%.


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Economic Statistics for 21 Jul 16

Existing home sales rose 1.1% in June, to a solid 5.570 million annual rate. Sales are up 3.0% on a year-over-year basis.

The Conference Board’s Index of leading Economic Indicators rose 0.3% in June.

The Philadelphia Fed Business Outlook Survey fell from 4.7 to -2.9 in July.

The Chicago Fed National Activity Index rose from -0.51 to 0.16 in June.

The FHFA House Price Index rose 0.2% in May. The index is up 5.6% on a year-ago basis.

Initial weekly jobless claims fell 1,000 to 253,000. The 4-week average fell 1,250 to 257,750. Continuing claims fell 25,000 to 2.128 million.

The Bloomberg Consumer Comfort Index fell -1.8 points to 42.9 in the latest week.

The Fed’s balance sheet rose $8.8 billion last week, with total assets of $4.480 trillion. Reserve bank credit rose $7.7 billion.

The Fed reports that M2 money supply rose by $25.0 billion in the latest week.


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Observations: The QandO Podcast for 15 Jul 15

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There’s a coup in Turkey, and we don’t know how it’ll turn out…but probably badly. Another terrorist attack occurred in Nice, France. Also, Driving While Black is a real thing, but some people just need to be shot by cops. Oh, and we should distribute income better.

 This week’s podcast is up on the Podcast page.