Free Markets, Free People

Dale Franks

Dale Franks’ QandO posts


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 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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Economic Statistics for 27 Mar 14

The Commerce Department’s final GDP revision for the 4th Quarter shows a below-trend annualized rate of 2.6% GDP growth.

Weekly initial jobless claims fell 10,000 to 311,000. The 4-week average fell 9,250 to 317,750. Continuing claims fell 53,000 to 2.823 million.

Corporate profits in the 4th Quarter of 2013 were $1.905 trillion, compared to $1.869 trillion in the 3rd Quarter. On a year-over-year basis, corporate profits are up 6.0%.

The Bloomberg Consumer Comfort Index fell -2.5 points to -31.5 in the latest week.

The National Association of Realtors’ Pending Home Sales Index fell -0.8% to 93.9 in February.

The Kansas City Fed manufacturing index rose to 10 in March, versus 4 in February.

The Fed’s balance sheet rose by $4.9 billion last week, with total assets of $4.890 trillion. Total reserve bank credit rose by $13.2 billion.

The Fed reports that M2 money supply rose $12.2 billion in the latest week.


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Economic Statistics for 26 Mar 14

The MBA reports Mortgage applications fell -3.5% last week. Purchases were up 3.0% but re-fis fell 08.0%.

Durable goods orders rose an ostensibly strong 2.2% in February, but were only up 0.2% less transportation orders. On a year-over-year basis, Orders are up 0.2% overall, and up 1.5% less transportation orders.

The Purchasing Managers’ Index (PMI) US Services Flash for March rose from 52.7 to 55.5.


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