Atlanta Fed’s Business Inflation Expectations Survey show businesses expect 1.7% inflation over the next 12 months.
Housing starts fell a sharp -9.0% in September, but it was all concentrated in multi-family units. Single family units rose a strong 8.1%. the overall total rate was an annualized 1.047 million. Building permits rose 6.3% to a 1.225 million annual rate.
The MBA reports that mortgage applications rose 0.6% last week, with purchases up 3.0% and refis down -1.0%.
Consumer prices rose 0.3% in September, though prices less food and energy rose only 0.1%. On a year-over-year basis, the CPI is up 1.5% overall and 2.2% at the core.
Net foreign demand for long-term US securities rose $48.3 billion in August, mainly on $30.4B in foreign buying.
The housing market index fell -2 points to 63 in October, keeping most of September’s 6-point gain.
Redbook reports that last week’s retail sales growth rose to 1.0% on a year-ago basis, from the previous week’s 0.5%.
The Empire State Manufacturing Survey remained negative for the 3rd straight month in October, falling to -6.8 from -1.99.
Industrial Production rose just 0.1% in September, while capacity utilization in the nation’s factories fell -0.1% to 75.4%.
Producer Prices for Final Demand (PPI-FD) rose 0.3% in September. PPI-FD less food and energy rose 0.2%, and 0.3% less food energy and trade services. on a year-over-year basis, PPI-FD is up 0.7% overall, 1.2% less food and energy, and 1.5% less food energy and trade services.
Retail sales rose a solid 0.6% in September, with sales less autos up 0.5%, and sales less autos and gas up 0.3%.
The Treasury’s budget showed a $33.4 billion surplus in September, but the FY2016 deficit rose 34% to $587.4 billion. Receipts rose only 0.6% as corporate income taxes fell 12.9%. and individual income taxes rose only 0.3%. Spending rose 4.5% in the year, led by an 8.8% rise in Medicare.
Business inventories rose 0.2%, in line with a 0.2% rise in sales that left the stock-to-sales ratio unchanged at 1.39.
The University of Michigan’s Consumer Sentiment Index plunged -3.3 points to 87.9 for September.
Import prices rose 0.1% in September, while export prices rose 0.3%. On a year-over-year basis, import prices fell -1.1% while export prices declined-1.5%.
Initial weekly jobless claims fell 6,000 to 246,000. The 4-week average fell 3,250 to 249,250. Continuing claims fell 16,000 to 2.046 million.
The Bloomberg Consumer Comfort Index rose 0.7 points to 42.1 in the latest week.
The Fed’s balance sheet fell $-1.7 billion last week, with total assets of $4.458 trillion. Reserve bank credit fell $-0.9 billion.
The Fed reports that M2 money supply fell by $-8.0 billion in the latest week.
The Labor Department’s JOLTS report fell a sharp 7.3% in August to 5.443 million openings, while hirings slowed by 0.9% to 5.210 million.
The MBA reports that mortgage applications fell -6.0% last week, with purchases down -3.0% and refis down -8.0%.
NFIB’s Small Business Optimism Index fell -0.3 points to 94.1 in September, the second consecutive decline.
The Fed’s Labor Market Conditions Index fell from -0.7 to -2.2 in September.
Redbook reports that last week’s retail sales growth fell to 0.5% on a year-ago basis, from the previous week’s 1.3%.
The BLS reports that a lackluster 156,000 net new jobs were created in September, while the unemployment rate rose 0.1% to 5.0%. The labor force participation rate rose 0.1% to 62.9%. Average hourly earnings rose 0.2%, while the average workweek increased by 0.1 hours to 34.4 hours.
Wholesale trade inventories fell -0.2%, while a sharp 0.7% rise in wholesale sales drew the stock-to-sales ratio down -0.1 to 1.33.
Consumer credit jumped by $25.9 billion, with revolving credit rose by $5.6 billion.
The small number of chain store retailers that still report monthly sales are mostly reporting much weaker sales rates in September.
Challenger’s Job-Cut Report shows a total of 44,324 layoffs announced in September, versus August’s very low 32,188.
Gallup’s Good Jobs Rate for september fell -0.9% to 45.6%, which is still the highest September reading since 2010.
Initial weekly jobless claims fell 5,000 to 249,000. The 4-week average fell 2,500 to 253,500. Continuing claims fell 6,000 to 2.058 million.
The Bloomberg Consumer Comfort Index fell -0.2 points to 41.4 in the latest week.
The Fed’s balance sheet rose $7.4 billion last week, with total assets of $4.459 trillion. Reserve bank credit fell $-6.3 billion.
The Fed reports that M2 money supply rose by $37.3 billion in the latest week.
Factory order rose an unexceptional 0.2% in August, but, hidden beneath the headline number, core capital goods orders jumped by 0.9%.
ADP reports an estimate of 154,000 net new private-sector jobs created in September.
The nation’s trade deficit widened by $1.2 billion in August to $40.7 billion.
Markit’s PMI Services Index rose 1.3 points to 52.3 in September, while the ISM Non-Manufacturing Index rose 5.7 points to 57.1. The ISM report looks like an outlier, frankly.
Gallup’s U.S. Job Creation Index was unchanged at 33 for September.
The MBA reports that mortgage applications rose 2.9% last week, with purchases down -0.1% but refis up 5.0%.