Dale Franks’ QandO posts
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.
Do you like cars? Do you like Socialism? Do you like Public Transportation? Then go to the podcast page and listen!
US industrial production declined by -0.2% in September, while capacity utilization in the nation’s factories fell -0.1% to 77.5%.
Job openings fell to 5.370 million in August, from 5.668 million in July.
The University of Michigan’s Consumer Sentiment Index rose nearly 5 points to 92.1 for the preliminary October reading.
The Atlanta Fed Business Inflation Expectations reading rose from 1.7% to 1.8% for October.
Foreign demand for long-term U.S. securities rose a moderate $20.4 billion in August, up from July’s $7.7 billion.
Consumer Prices fell -0.2% overall in September, while the core rate, less food and energy, rose 0.2%. The CPI is unchanged on a year-over-year basis, though the core CPI is up 1.9%.
The Empire State manufacturing survey improved slightly in October, though still coming in at a poor -11.36 from -14.67.
The Philadelphia Fed Business Outlook Survey stayed in negative territory rising to only -4.5 in October from -6.0.
With the 2015 US Government Fiscal Fear complete, a $91.1 billion surplus in September leaves the annual deficit down by 9.2% to $438.9 billion for the year. The annual budget deficit was 2.5% of GDP, versus 2.8% in FY2014.
Initial weekly jobless claims fell 7,000 to 255,000. The 4-week average fell 2,250 to 265,000. Continuing claims fell 22,000 to 2.201 million.
The Bloomberg Consumer Comfort Index rose 0.4 points to 45.2 in the latest week.
The Fed’s balance sheet rose $18.5 billion last week, with total assets of $4.505 trillion. Reserve bank credit rose $4.6 billion.
The Fed reports that M2 money supply rose by $2.1 billion in the latest week.
The MBA reports that mortgage applications fell -27.6% last week, with purchases down -34.0% and refis down -23.0%. This is the second week after the new disclosure rules were imposed. Last week, apps skyrocketed, so this week’s free-fall actually reflects a return to normalcy.
Producer Prices for Final Demand continued to fall by -0.5% in September, sparking new fears of deflation. Prices ex-food and -energy fell-0.3%, as did prices ex-food, -energy, and -trade services. On a year-over-year basis, PPI-FD is down 01.1% overall, but pieces ex-food and -energy are up 0.8%, and prices ex-food, -energy, and -trade services are up 0.5%.
Retail sales for September rose only a weak 0.1%. Sales less autos fell -0.3%, while sales less autos and gas were unchanged.
Business inventories were unchanged for a second month in August, while sales fell 0.6%, sending the stock-to-sales ratio up to 1.37.
The Fed’s most recent Beige Book on the economy reports that only 3 Fed districts reported “moderate” growth, with 6 reporting “modest” growth, 3 with “slowing” growth, and the Kansas City district reporting economic contraction.
So, here’s the deal. While I love doing car reviews—and I fancy that people enjoy reading them—doing them is a bit of a burden. It’s a burden either financially, because I have to rent the car for a few days, or in time and effort as I have to acquire them by…other means.
What I really need is regular access to a press fleet, and I haven’t been successful in being able to do that. So, I’m wondering, do any of you, dear readers, have any ability to help me get into the press fleet pool, or otherwise get access to review vehicles? If so, contact me at dale-at-dalefranks.com.
The MBA reports that mortgage applications rose 25.5% last week, with purchases up 27% and refis 24.0%. This huge jump is the result of new disclosure rules, under the TILA-RESPA regulatory change.
The Gallup U.S. Job Creation Index was unchanged in September at 32.
Consumer credit rose $16.0 billion in August, with revolving credit up $4.0 billion.
A drop in exports, combined with a surge of new iPhone imports, increased the US Trade Deficit to $-48.3 billion in August.
The Gallup Economic Confidence Index dropped another point in September, to -14.
Reebok reports that last week’s retail sales rose, but only to a weak 0.9% on a year-ago basis, from the previous week’s 0.7%.