Free Markets, Free People

Economy

Economic Statistics for 30 Jul 14

The Commerce Department’s initial GDP estimate for 2Q 2014 came in at a 4.0% annualized rate of growth. The GDP price index rose at an annualized 2.0%. The Commerce Department says the high growth in the quarter is a rebound from the weather-related GDP declines in 1Q.

The Federal Open Markets Committee met today, and left interest rates unchanged, with a Fed Funds target rate of 0.0%-0.25%.

ADP’s estimate for private payroll growth in July is 218,000 jobs. Econoday’s analyst consensus is a bit higher at 235,000.

The MBA reports that mortgage applications fell -2.2% last week. Purchases rose 0.2% but re-fis fell -4.0%.


Dale’s social media profiles:
Twitter | Facebook | Google+

Economic Statistics for 29 Jul 14

ICSC-Goldman reports weekly retail sales up 0.2%, and were up 4.6% on a year-over-year basis. Redbook reports a 3.0% rise in retail sales over last year.

The S&P/Case-Shiller 20-city home price index continued to fall in May, down -0.3% for the month. On a year-over-year basis, the index is up 9.3%, however.

The Conference Board’s consumer confidence index is moving steadily to new recovery highs, to 90.9 in July.

The State Street Investor Confidence Index fell to 114.7 in July from a revised 119.3 in June.


Dale’s social media profiles:
Twitter | Facebook | Google+

Economic Statistics for 24 Jul 14

The Bloomberg Consumer Comfort Index rose 0.1 points to 37.6 in the latest week.

Weekly initial jobless claims fell a surprising 19,000 to 284,000. The 4-week average fell 7,000 to 302,000. Continuing claims fell 8,000 to 2.500 million.

The PMI Manufacturing Index Flash fell from 57.6 to 56.3 in July.

June new home sales fell very sharply to a 406,000 annual rate from May’s 504,000. Prices fell 3.2% to a median price of $273,500.

The Kansas City Fed manufacturing index rose to 9 in July from 6 in June.

The Fed’s balance sheet rose $12.5 billion last week, with total assets of $4.411 trillion. Total reserve bank credit rose $14.7 billion.

The Fed reports that M2 money supply fell $-12.4 billion in the latest week.


Dale’s social media profiles:
Twitter | Facebook | Google+

Economic Statistics for 22 Jul 14

In weekly retail sales, Redbook reports a 3.7% increase from the previous year. ICSC-Goldman reports a weekly sales decline of -0.4%, and a slow 2.8% increase on a year-over-year basis.

The Consumer Price Index rose 0.3% in June, but only 0.1% less food and energy. On a year-over-year basis, the CPI is up 2.1% overall, and 1.9% less food and energy.

The FHFA House Price Index rose 0.4% in May, and is up 5.5% on a year-over-year basis.

Existing home sales rose a sharp 2.4% in June, to a 5.04 Million annual rate.

The Richmond Fed manufacturing index rose from 3 to 7 in June.


Dale’s social media profiles:
Twitter | Facebook | Google+

The most important reason the left’s “War on Coal” is wrong

Energy Matters takes a look at the progress of the green energy renewables that were supposed to be saving the day and justifying the “war on coal”:

“So while we can expect that hydro will continue to provide most of the energy generated by renewables for some time to come it isn’t likely to contribute to decarbonizing global energy generation any more than it already has. If decarbonization is to be achieved by expanding renewables the expansion will have to come in wind, solar and biomass. So let’s take hydro out and see how far growth in wind, solar and biomass has carried us along the decarbonization path so far…Clearly they still have a long way to go.”

Ya think?!

~McQ

Economic Statistics for 17 Jul 14

Housing starts fell a sharp -9.3% in June, following May’s -7.3%, to a 0.893 million annual rate.

The general business conditions index of the Philadelphia Fed’s Business Outlook Survey jumped 6.1 points to 23.9 in July, which is the highest since March 2011.

Initial jobless claims fell 3,000 last week, to 302,000. The 4-week moving average fell 2,500 to 309,000. Continuing claims fell 79,000 to a recovery low of 2.507 million.

The Bloomberg Consumer Comfort Index fell 0.1 points to 37.5 in the latest week..

The Fed’s balance sheet rose $14.8 billion last week, with total assets of $4.398 trillion. Reserve Bank credit increased $12.3 billion.

The Fed reports that M2 Money Supply decreased by $-12.4 billion last week.


Dale’s social media profiles:
Twitter | Facebook | Google+