Free Markets, Free People

Economic statistics

Economic Statistics for 26 May 14

Personal income rose 0.4% in May, while personal spending rose 0.2%. The May PCE Price index rose 0.2% at both the headline and core level. On a year-over-year basis, the PCE Price index is up and up 1.5% less food and energy.

The Kansas City Fed manufacturing index fell from 10 in May to 6 in June.

Weekly initial jobless claims fell 2,000 to 312,000. The 4-week average rose 3,000 to 314,250. Continuing claims rose 12,000 to 2.571 million.

The Bloomberg Consumer Comfort Index is unchanged at 37.1 in the latest week.

The Fed’s balance sheet rose $0.2 billion last week, with total assets of $4.368 trillion. Total reserve bank credit rose by $9.7 billion.

The Fed reports that M2 money supply rose $4.3 billion in the latest week.


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Economic Statistics for 24-25 Jun 14

The State Street Investor Confidence Index was unchanged at 119.5 in June.

The Richmond Fed manufacturing index slowed to 3 in June versus 7 in May.

The Conference Board’s consumer confidence index rose to 85.2 in June–a recovery high–from a revised 82.2 in May.

The Richmond Fed manufacturing index slowed to 3 in June versus 7 in May.

New home sales in May jumped 18.6% to a far-better-than-expected 504,000 annual rate.

The S&P/Case-Shiller 20-city home price index rose 0.2% in April. The index was 10.8% higher on a year-over-year basis. The FHFA purchase only house price index was unchanged in April, but up 5.95 on a year-over-year basis.

In weekly retail sales, Redbook reports a 3.3% increase from the previous year. ICSC-Goldman reports a weekly sales increase of 2.0%, and a 4.1% increase on a year-over-year basis.

The Commerce Department’s final GDP revision for the 1st Quarter of 2014 was a shockingly negative -2.9% annualized decline. The GDP Price index, however, rose 1.3%, annualized.

Durable goods orders fell -1.0% in May, well below expectations. Less transportation, orders fell -0.1%.

The MBA reports that mortgage applications fell 1.0% last week, with purchases and refinancings both down 1.0%.


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Economic Statistics for 19 Jun 14

The general conditions index of the Philadelphia Fed Survey rose 2.4 points to a very strong 17.8.

The Conference Board’s index of leading economic indicators rose 0.5 percent in May, following April’s 0.3% rise.

Weekly initial jobless claims fell 6,000 to 312,000. The 4-week average fell 3,000 to 311,750. Continuing claims fell 54,000 to a new recovery low of 2.561 million.

The Bloomberg Consumer Comfort Index rose 1.6 points to 37.1 in the latest week, near recovery highs.

The Fed’s balance sheet increased $27.3 billion last week, with total assets of $4.368 trillion. Total reserve bank credit rose by $28.8 billion.

The Fed reports that M2 money supply fell $-9.3 billion in the latest week.


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Economic Statistics for 18 Jun 14

The MBA reports that rising mortgage rates sent mortgage applications down -9.2% in the latest week. Purchases fell -5.0%, while re-fis dropped -13.0%.

The nation’s current account deficit the 1st Quarter of 2014 rose to $-111.2 billion from a revised $-87.3 billion in 4Q 2013.

The Federal Open Markets Committee left interest rates unchanged today, with a Fed Funds target rate of 0% – 0.25%.

The FOMC’s June projection for economic growth: 2014: 2.1-2.3%; 2015: 3.0-3.2%; 2016: 2.5-3.0%; longer run: 2.1-2.2%. Again, the prediction is for continuing subpar GDP growth.


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Economic Statistics for 16 Jun 14

The Empire State manufacturing index remained strong for June, rising a slight 0.27 points to a strong 19.28.

The Treasury reports that net foreign demand for long-term US securities fell $-24.2 billion in June.

Industrial production rose 0.6% in May, while capacity utilization in the nation’s factories rose 0.5% to 79.1%.

The NAHB housing market index for June rose 4 points to 49, just one point under the break-even reading of 50.


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Economic Statistics for 13 Jun 14

Producer prices for final demand fell -0.2% in May, and are up 2.0% on a year-over-year basis. PPI-FD less food & energy: -0.1 %, PPI-FD less food, energy & trade services: 0.0 %, PPI-FD Goods: -0.1 %, PPI-FD Services: -0.2 %.

The University of Michigan’s Consumer Sentiment Index fell -0.7 points to 81.2 in June.


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Economic Statistics for 12 Jun 14

Weekly initial jobless claims rose 4,000 to 317,000. The 4-week average rose 5,000 to 315,250. Continuing claims rose 11,000 to 2.614 million.

Retail sales for May rose 0.3% overall, but were only up 0.1% less autos, and were unchanged from April less autos & gas.

Both export and import prices rose 0.1% in May. On a year over year basis, export prices rose 0.5%, as import prices rose 0.4%.

The Bloomberg Consumer Comfort Index rose o.4 points to 35.5 in the latest week.

Business inventories rose a higher than expected 0.6% in April, but a 0.7% sales increase kept the stock-to-sales ratio at 1.29.

The Fed’s balance sheet rose $10.0 billion last week, with total assets of $4.341 trillion. Total reserve bank credit rose by $8.8 billion.

The Fed reports that M2 money supply rose $10.9 billion in the latest week.


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Economic Statistics for 10-11 Jun 14

The June NFIB Small Business Optimism Index rose 1.4 points to 96.6 for the best reading since September 2007.

ICSC-Goldman reports weekly retail sales down -2.8%, but up 3.0% on a year-over-year basis. Redbook reports an 3.3% rise in retail sales over last year.

Wholesale inventories rose 1.1% in April, while 1.3% sales increase kept the stock-to-sales ratio unchanged at 1.18.

May’s US Treasury budget ended in a $-130.0 billion deficit, following April’s $1.03 billion surplus.

The MBA reports that mortgage applications rose 10.3% last week. Purchases rose 9.0% and re-fis rose 11.0%.


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