Free Markets, Free People

Dale Franks


Observations: The QandO Podcast for 06 Apr 14

This week, Michael and Dale talk about Brendan Eich and Obamacare.

The podcast can be found on Stitcher here. Please remember the feed may take a couple of hours to update after this is first posted.

As a reminder, if you are an iTunes user, don’t forget to subscribe to the QandO podcast, Observations, through iTunes. For those of you who don’t have iTunes, you can subscribe at Stitcher. And, of course, for you newsreader subscriber types, our podcast RSS Feed is here.


Economic Statistics for 3 Apr 14

Challenger reports that layoff announcements in March were 34,399, down from 41,835 in February.

The Gallup US Payroll to Population rate fell -0.4 points to 42.7 in March.

The US trade deficit rose to $42.3 billion in February from $39.3 billion in January.

Weekly initial jobless claims rose 16,000 to 326,000. The 4-week average rose 1,750 to 319,500. Continuing claims rose 22,000 to 2.836 million.

The PMI Services Index rose 2 points to 55.3 in March.

The Bloomberg Consumer Comfort Index rose 1.5 points to -30.0 in the latest week.

The ISM Non-Manufacturing Index rose 1.5 points to 53.1 in March.

The JP Morgan Global Composite PMI rose 0.5 points to 53.5 in March.

The Fed’s balance sheet rose $9.5 billion last week, with total assets of $4.236 trillion. Total reserve bank credit rose by $4.7 billion.

The Fed reports that M2 money supply grew $20 billion in the latest week.


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Economic Statistics for 2 Apr 14

The MBA reports that mortgage applications fell -1.2% last week. Purchases were up 1.0%, but re-fis fell -3.0%.

The ADP national employment report estimates that 191,000 new private payroll jobs were created in March.

The Gallup U.S. Job Creation Index rose 2 points in March to 23.

February factory orders rose a better-than-expected 1.6% helped by a 13.4% increase in aircraft orders and a 3.0% rise in autos.


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Economic Statistics for 1 Apr 14

Domestic vehicle sales rose 6.9% in March to a 16.4 million annual rate, rebounding from the weather-impacted sales of the past two months.

ICSC-Goldman reports weekly retail sales rose 3.6%, but were only up 0.6% on a year-over-year basis. Redbook reports an increase of 2.3% in retail sales over last year.

Markit’s manufacturing PMI final for March is 55.5, down from February’s 57.1.

The ISM manufacturing index rose 0.5 points in March to 53.7.

Construction spending in February rose 0.1%, which is a 8.7% increase over the previous year.

J.P. Morgan Global Manufacturing PMI fell nearly a full point to 52.4 in March.

Gallup’s Economic Confidence Index averaged -17 in March, essentially the same as the -16 of the past two months.


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Observations: The QandO Podcast for 30 Mar 14

This week, Bruce, Michael and Dale talk about arresting climate change deniers, voter fraud, and Obamacare.

The podcast can be found on Stitcher here. Please remember the feed may take a couple of hours to update after this is first posted.

As a reminder, if you are an iTunes user, don’t forget to subscribe to the QandO podcast, Observations, through iTunes. For those of you who don’t have iTunes, you can subscribe at Stitcher. And, of course, for you newsreader subscriber types, our podcast RSS Feed is here.


Economic Statistics for 28 Mar 14

Personal income and spending both rose 0.2% in February, while the PCE price index rose 0.1%, at both the headline and core level. On a year-over-year basis, personal income is up 3.1% while personal spending is up 3.1%. The PCE price index is up 0.9% at the headline level and 1.1% at the core.

The University of Michigan’s Consumer Sentiment index rose 0.1 points to 80.0 in March.


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