Free Markets, Free People
Economic Statistics for 3 Jan 12
The following US economic statistics were announced today:
The Bloomberg Consumer Comfort Index rose 0.3 points this week to -31.8, an 8-month high.
Chain stores are reporting December sales today, and it seems to be a mixed bag, as some retailers are lowering earnings guidance, while others are raising it. Many report the month got off to a slow start, forcing retailers to offer greater discounts.
The MBA reports that mortgage applications fell -21.6% last week, with purchases down -14.8% and refinancings down -23.3%.
The Challenger Job-Cut Report shows only 32,556 layoffs in December, the lowest since August.
The ADP Employment Report shows a strong 215,000 gain in private payrolls for December. We’ll see if that’s reflected in tomorrow’s Employment Situation.
Initial claims for unemployment rose 10,000 last week, to 372,000. The 4-week moving average rose 3,250 to 360,000, Continuing claims rose 44,000 to 3.245 million. The improvement last week is now gone due to a sharp revision upward 12,000 to 362,000.