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Economic statistics

Economic Statistics for 8 Nov 12

The following US economic statistics were announced today:

Late yesterday, the Consumer Credit report showed another steep $11.4 billion increase in consumer credit for September, following August’s very large $18.4 billion increase. One of the main contributors to the increase was student loan debt.

Initial claims for unemployment fell 8,000 last week, to 355,000. The 4-week moving average rose 3,250 to 370,500. Continuing claims fell a sharp 135,000 to 3.127 million.

The Bloomberg Consumer Comfort Index rose 0.3 points to –34.3, the highest reading since spring.

The U.S. international trade gap in September fell to -$41.5 billion from -$44.2 billion in August. Exports rose 3.1%, and imports rose 1.5%.

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Dale Franks
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Economic Statistics for 6 Nov 12

 

The following US economic statistics were announced today:

In weekly retail sales, Redbook reports only a 0.8% increase from the previous year. ICSC-Goldman reports a weekly sales decrease of –0.2%, and a weak 1.4% increase on a year-over-year basis. Obviously, these numbers are the result of Hurricane Sandy’s disruption.

That’s all the economic news for the day. Other than that, I can’t think of a single event that I might talk about today.

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Dale Franks
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Economic Statistics for 2 Nov 12

The following US economic statistics were announced today:

The Monster Employment Index rose 2 points in October to 156.

Factory orders rose 4.8% in September, but, like August, Aircraft orders are skewing the numbers. Ex-transportation capital goods orders actually fell -0.2%.

The BLS reports that a better-than-expected 171,000 net new jobs were created in October, and the unemployment rate rose to 7.9%. Both hourly earnings and weekly hours were unchanged. The labor force participation rate jumped 0.2 points to 63.8, as nearly 600,000 people came into the labor force, among which were a drop of 369,000 of those who are not on the labor force. The U-6 unemployment rate, the broadest measure of unemployment and under-employment, fell -0.1% to 14.6%. Overall, this is a status-quo report. There’s just enough employment growth to do keep up with the expansion of the labor force, but not enough to indicate any real improvement in the labor market, or economic growth in general.

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Dale Franks
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Economic Statistics for 1 Nov 12

The following US economic statistics were announced today, and today is a jam-packed day for economic data:

Last night, ADP revised their September jobs figures down by half, to only 88,000 new jobs, the final release of their employment report under the old Methodology. Today, ADP begins the series all over again using Moody’s as the data analyst for the report, so we have no earthly idea how accurate or relevant this report is now, as it is essentially a brand new report with no track record. With that in mind, ADP reports that 158,000 new jobs were created in October. Tomorrow, we’ll be able to compare it with the BLS’s Employment Situation for the first time.

Motor vehicle sales came in a disappointing 14.29 million which is sharply lower than September.

Monthly chain store sales, reported slightly higher sales growth, and most retailers increased earnings guidance.

The Challenger Job-Cut Report states that 47,724 layoffs were announced in October, as lower earnings pushed companies to cut costs. It’s the highest number of layoffs since May.

Initial claims for unemployment fell 9,000 to 363,000. The 4-week moving average fell 1,500 to 367,250. Continuing claims rose 4,000 to 3.263 million.

The initial estimate for nonfarm business productivity for the 3rd quarter rose 1.9%, while unit labor costs unexpectedly fell –0.1%, mainly due to a drop in hourly compensation.

The Markit PMI Manufacturing Index fell 0.1 points to 51.0 in October.

The Bloomberg Consumer Comfort Index fell -0.1 points to -34.7, but is still among the highest readings in 4 years.

The Institute for Supply Management’s manufacturing index rose 0.2 points to 51.7, indicating continued—if very mild—economic expansion.

The Conference Board’s consumer confidence index improved in October to 72.2 from 68.4 in September.

Construction spending rose 0.6% in September, following a 0.6% drop in August, and a 0.4%  drop in July.

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Dale Franks
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Economic Statistics for 31 Oct 12

The following US economic statistics were announced today:

The MBA mortgage applications report is delayed due to Hurricane Sandy.

The Chicago Purchasing Managers Index rose 0.2 points in October to 49.9, compared to September’s 49.7, which was the first negative index of the "recovery", as any score below 50 indicates economic contraction.

The employment cost index in the third quarter rose 0.4%, with the year-on-year rate up 2.0%.

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Dale Franks
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Economic Statistics for 30 Oct 12 (Updated)

The following US economic statistics were announced today:

The State Street Investor Confidence Index fell a steep 6.7 points to 80.6, as investors’ risk appetite plummeted.

The S&P/Case-Shiller 20-city home price index in July showed a 0.5% monthly gain On a year-over-year basis, the index rose 2.0%.

In weekly retail sales, Redbook is still delayed, but ICSC-Goldman reports a 0.5% weekly sales increase, but the year-on-year pace fell to 2.7%.

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Dale Franks
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Economic Statistics for 29 Oct 12

The following US economic statistics were announced today:

Personal Income rose 0.4% in September while personal spending rose 0.8%. The PCE price index jumped 0.4%, while the core rate was more modest with a 0.1% rise. On a year-over-year basis, the PCE price index rose 1.7% at the core and headline levels.

The Dallas Fed general business activity index in October rose 0.7 points to –0.9, indicating a slightly slower rate of contraction.

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Dale Franks
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Economic Statistics for 26 Oct 12

The following US economic statistics were announced today:

The Commerce Department reports that the initial estimate for 3rd quarter GDP was that the economy grew at a  lackluster 2.0% annualized pace. The GDP price index rose more than expected, to 2.8%. Government spending was surprisingly positive for the report, as were personal consumption expenditures, led by durable goods. Still, growth is below normal, so the outlook for employment growth is not good.

The Reuter’s/University of Michigan’s consumer sentiment index posted an October reading of 82.6.

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Dale Franks
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