Questions and Observations

The following US economic statistics were announced today:

In weekly retail sales, Redbook reports a  soft 1.8% increase from the previous year. ICSC-Goldman reports a weekly sales increase of 0.8%, and a weak 1.9% increase on a year-over-year basis.

The PMI Manufacturing Index Flash for April fell nearly 3 points to 53.0.

The FHFA House Price Index rose 0.7% in March, and is up 7.1% on a year-over-year basis.

New home sales for March were weaker than expected, with a 1.5% increase to a 417,000 annual rate.

The Richmond Fed Manufacturing Index fell a steep 9 points to -3 in April.

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Dale Franks
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Here are today’s statistics on the state of the economy:

Existing home sales fell 0.6% in march to a worse-than-expected 4.92 million annual rate.

The Chicago Fed National Activity Index fell to -0.23 for March, while the 3-month average fell to -0.01.

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Dale Franks
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Here are today’s statistics on the state of the economy:

Initial jobless claims rose 4,000 to 352,000, and the 4-week average rose 3,250 to 361,250. Continuing claims  fell 35,000 to 3.068 million.

The Bloomberg Consumer Comfort Index rose to -29.2, the highest level in 5 years.

The Philadelphia Fed Survey fell -0.7 points to 1.3.

The Conference Board’s index of leading economic indicators came in at minus 0.1% in March.

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Dale Franks
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Here are today’s statistics on the state of the economy:

The MBA reports mortgage applications rose 4.8% last week, with purchases up 4.0% and re-fis up 5.0%.

The Fed’s Beige Book reports that "overall economic activity expanded at a moderate pace from February to April.

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Dale Franks
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Here are today’s statistics on the state of the economy:

The Fed reports that industrial production rose 0.4% in March, while capacity utilization at the nation’s factories rose slightly to 78.5%.

Housing starts were unexpectedly strong in March, up 7.0% to a 1.036million annual rate, however, all the strength was in multi-family units. Building permits fell -3.9% to a 0.902 million annual rate, well below expectations.

The Consumer Price index fell -0.2%, while the core rate, ex-food and -energy, rose 0.1%. On a year-over-year basis the CPI is up 1.5% and the core CPI is up 1.9%.

In weekly retail sales, Redbook’s year-on-year sales growth rate fell to 2.0%, while ICSC-Goldman sales fell -1.1% this week, and are up only 2.0% year-on-year.

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Dale Franks
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Here are today’s statistics on the state of the economy:

The Housing Market Index fell 2 points in April to a worse-than-expected 42, the lowest since October.

The Empire State Mfg Survey shows an abruptly slowing rate of monthly growth in the district, falling over 6 points to 3.05.

Net foreign demand for long-term U.S. securities fell into negative territory, with a net outflow of -17.8 billion.

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Dale Franks
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Here are today’s statistics on the state of the economy:

Falling gas prices sent Producer Prices down by -0.6% in March, the though the core PPI rate rose 0.2%. On a year over year basis, the PPI is up 1.1%, and the core PPI is up 1.7%.

Retail sales fell a disappointing -0.4% in March. Sales were also down -0.4% ex-autos, and down -0.1% ex-autos and gas.

The Reuter’s/University of Michigan’s consumer sentiment index fell 6.7 points in the first April reading to 72.3.

Business inventories were steady in February, rising only 0.1%. A 1.2% increase in sales drove down the stock-to-sales ratio to a lean 1.28.

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Dale Franks
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Here are today’s statistics on the state of the economy:

The Bloomberg Consumer Comfort Index stayed steady at –34.0 this week.

March chain-store sales were mixed with 9 retail chains reporting higher year-on-year sales rates, 7 reporting lower rates, and 1 unchanged.

Initial jobless claims fell 42,000 last week to 346,000. The 4-week average rose 3,750 to 358,000. Continuing claims fell by 12,000.

Import prices fell 0.5% in March, with the year-on-year rate at -2.7%. Export prices fell -0.4% with the year-on-year rate up 0.3%.

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Dale Franks
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Here are today’s statistics on the state of the economy:

The MBA reports mortgage applications rose 4.5%. Purchases fell -1.0% while re-fis rose 6.0%.

The Treasury reports that March’s fiscal deficit came in at $106.5 billion, well below analyst’s expectations.

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Dale Franks
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Here are today’s statistics on the state of the economy:

The NFIB Small Business Optimism Index dropped 1.3 points in march to 89.5, 1.2 points below the recovery average.

February wholesale inventories fell -0.3%, while sales rose 1.7%, pulling the stock-to-sales ratio down to 1.19.

In weekly retail sales, Redbook reports a 2.5% year-on-year sales increase, as sales slowed following the Easter week. ICSC-Goldman store sales rose 0.7% in the week, with sales up a soft 2.1% year-over-year.

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Dale Franks
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