Free Markets, Free People

Economy

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Economic Statistics for 27 Sep 16

New home sales fell -7.6% in August, to a 609,000 annual rate. July’s reading was revised upwards, however, by 5,000, resulting in a July increase of 13.8%.

The Dallas Fed Manufacturing Survey for September rose from 4.5 to 16.7.

What used to be called the Case-Shiller Home Price Index, then the S&P Case-Shiller HPI, and, as of today, is called the S&P Corelogic Case-Shiller HPI was unchanged in July, while the year-over-year change fell -0.1% to 5.0%.

The Conference Board’s Consumer Confidence Index rose 3.0 points to 104.1 in September.

The Richmond Fed Manufacturing Index rose 3 points to a still-negative -8 in September.

State Street’s Investor Confidence Index rose 5.8 points in September to 95.5, mainly on increased investor confidence in Asia.

The PMI Services Flash for September rose 1.0 points to 51.9.

Redbook reports that last week’s US retail sales growth was unchanged at a sluggish 0.2% on a year-ago basis.


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Economic Statistics for 22 Sep 16

A tough week, including bad weather and a power outage has impacted my ability to keep up with the economic stats this week, but I think we’re back on track, now.

The Chicago Fed National Activity Index fell from 0.27 to -0.55 in August.

The FHFA House Price Index rose 0.5% in July, and is up 5.8% on a year-over-year basis.

Existing home sales softened in August, falling -0.9% to a 5.33 million annual rate. Sales are only up 0.8% on a year-over-year basis.

The Conference Board’s index of leading economic indicators fell -0.2% in August, retracting some of July’s 0.5% gain.

The Kansas City Fed Manufacturing Index rose from -4 to 6 in September.

Initial weekly jobless claims fell 8,000 to 252,000. The 4-week average fell 2,250 to 258,500. Continuing claims fell 36,000 to 2.113 million.

The Bloomberg Consumer Comfort Index fell -0.9 points to 41.3 in the latest week.

The Fed’s balance sheet fell $-8.6 billion last week, with total assets of $4.473 trillion. Reserve bank credit rose $2.9 billion.

The Fed reports that M2 money supply rose by $37.4 billion in the latest week.


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Economic Statistics for 16 Sep 16

Consumer prices rose 0.2% in August, with core prices (less food and energy), up 0.3%. On a year-over-year basis, prices are up 1.1% overall and 2.3% at the core.

Aggressive foreign buying sent net foreign demand for long-term US securities up from $-3.6 billion in June to $103.9 billion in July.

The University of Michigan’s Consumer Sentiment Index was unchanged at 89.8 for September.


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Economic Statistics for 15 Sep 16

Producer Prices for Final Demand were unchanged in August. PPI-FD ex-food and-energy rose 0.1% and less trade services rose 0.3%. On a year-over-year basis, PPI-FD is unchanged, prices less food and energy are up 1.0%, and prices less food, energy, and trade services are up 1.2%.

August retail sales fell -0.3% as consumers pulled back. Sales less autos, and sales less autos and gas, were both down -0.1%.

The nation’s current account deficit narrowed in the 2nd Quarter to $-119.9 billion from a revised $-131.8 billion in the 1st Quarter.

The Philadelphia Fed Business Outlook Survey rose from 2.0 to 12.8 in September.

The Empire State Manufacturing Survey rose from -4.21 to -1.99 in September.

Industrial Production fell -0.4% in August, while capacity utilization in the nation’s factories also fell -0.4% to 75.5%.

Business Inventories were unchanged in July while sales fell -0.2%. The stock-to-sales ratio was unchanged at 1.39.

Initial weekly jobless claims rose 1,000 to 260,000. The 4-week average fell 500 to 260,750. Continuing claims were unchanged at 2.143 million.

The Bloomberg Consumer Comfort Index fell -1.8 points to 42.2 in the latest week.

The Fed’s balance sheet rose $22.2 billion last week, with total assets of $4.482 trillion. Reserve bank credit fell $-22.4 billion.

The Fed reports that M2 money supply fell by $-8.0 billion in the latest week.


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Economic Statistics for 13 Sep 16

The Treasury reports the federal government’s deficit is growing, at $-107.1 billion for August. The year-to-date deficit is $-620.8 billion, 17.1% higher than  August, 2015.

The NFIB Small Business Optimism Index fell -0.2 points to 94.4 in August.

Redbook reports that last week’s retail sales growth rose to 0.8% on a year-ago basis, from the previous week’s 0.4%.


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Economic Statistics for 2 Sep 16

A lackluster 151,000 net new jobs were created in August, while the Unemployment Rate was unchanged at 4.9%. The labor force participation rate was unchanged at 62.8%. Average hourly earnings rose 0.1%, but the average workweek fell -0.2 hours to 34.3 hours.

A rise in exports lowered the July trade deficit to $-39.5 billion, down from $-44.5 billion in June.

After monthly declines of -1.2% and -1.8%, factory orders rose 1.9% in July, with core capital goods orders up 1.5%.


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Economic Statistics for 1 Sep 16

Motor vehicle sales fell -5.0% in July to a 17.0 million annual rate. This was almost entirely due a fall in North American-made vehicles, which fell from a 14.3 million rate in June to a 13.4 million rate in July.

The final revision for 2nd Quarter productivity shows a -0.6% decline in productivity, while unit labor costs rose 4.3%.

Chain stores—those that still report monthly sales, anyway, mostly report higher year-on-year sales growth for August.

Construction spending was unchanged in July, and is up only 1.5% on a year-over-year basis.

In August, the PMI Manufacturing Index fell -0.9 points to 52.0, while the ISM Manufacturing Index fell -3.2 points to a contractionary 49.4.

Challenger reports that layoff announcements totaled 32,188 in August, down from 45,346 in July.

Gallup’s Good Jobs Rate fell from its record high of 47.1% in July to 46.5 in August, the 2nd-highest ever recorded.

Initial weekly jobless claims rose 2,000 to 263,000. The 4-week average fell 1,000 to 263,000. Continuing claims rose 14,000 to 2.159 million.

The Bloomberg Consumer Comfort Index fell -1.9 points to 43.3 in the latest week.

The Fed’s balance sheet fell $-15.9 billion last week, with total assets of $4.458 trillion. Reserve bank credit fell $-19.5 billion.

The Fed reports that M2 money supply rose by $22.0 billion in the latest week.


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Economic Statistics for 31 Aug 16

The Pending Home Sales Index rose 1.3% in July, to 111.3.

ADP’s Employment Report for August indicates that 177,000 new private sector jobs were created during the month.

The Chicago PMI fell -4.3 points in August to 51.5.

The MBA reports that mortgage applications rose 2.8% last week, with purchases up 1.0% and refis up 4.0%.


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Economic Statistics four 30 Aug 2016

Redbook reports that last week’s retail sales growth rose to 0.6% on a year-ago basis, from the previous week’s 0.2%.

The S&P Case Shiller home price index fell -0.1% in point 1% in June. On a year–over–year basis, the index is up 5.3%.

The Conference Board’s consumer confidence index rose 4 1/2 points to 101.1 in August.

The State Street Investor Confidence index fell a sharp -8.3 points in August to 89.7.


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