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Economic statistics

Economic Statistics for 23 Oct 12

The following US economic statistics were announced today:

The Richmond Fed manufacturing index for September dropped sharply to a very contractionary –7 from 4 in September.

In retail sales, Redbook reports a weak 1.3% year-on-year sales increase, as the trend continues to decline. ICSC-Goldman reports a decrease of –0.7% over last week, and a flat 2.9% over last year.

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Dale Franks
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Economic Statistics for 18 Oct 12

The following US economic statistics were announced today:

The general business conditions index of the Philadelphia Fed’s Business Outlook Survey improved to 5.7, up 8 points from last month’s –1.9.

After last week’s huge initially reported 30,000 drop, initial jobless claims rose 46,000 to 388,000, while the 4-week average rose 1000 to 365,500. Continuing claims fell 29,000 to 3.276 million.

The Bloomberg Consumer Comfort Index rose 1 point to –34.8.

The Conference Board’s index of leading indicators in September rose a sharp 0.6% for September.

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Dale Franks
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Economic Statistics for 17 Oct 12

The following US economic statistics were announced today:

Housing starts in September advanced to a 0.872 million unit pace, topping market expectations and up 34.8% on a year-ago basis. Housing permits rose 11.6% to a 0.894 million annualized pace, which is up 45.1% from a year-ago.

The MBA reports mortgage applications fell –4.2% last week, as purchases rose 1.0% and refinancings fell 5.0%.

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Dale Franks
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Economic Statistics for 16 Oct 12

The following US economic statistics were announced today:

The Consumer Price Index rose 0.6%. The core rate, ex-food and –energy, rose 0.1%. On a yearly basis, the CPI rose 2.0%, and the core CPI also rose 2.0%.

Net capital inflows to the US were $90 billion in August, with strong demand for corporate bonds among foreign buyers.

US industrial production rose 0.4%, while capacity utilization rose o.1% to 78.3%. Manufacturing production only rose a sluggish 0.2%, which means it’s no longer providing much impetus for recovery.

The housing market index rose 1 point to 41, thanks to record low mortgage rates and rising consumer confidence.

In weekly retail sales, Redbook reports a soft year-over-year sales increase of 1.8%. ICSC-Goldman reports sales were unchanged in the latest week, and up 2.7% on a year-over-year basis, also a fairly soft number, though it’s been steady for the last month.

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Dale Franks
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Economic Statistics for 15 Oct 12

The following US economic statistics were announced today:

US retail sales for September rose a better-than-expected 1.1%. Ex-autos, sales were still up 1.1%, and Ex-autos and –gas, up 0.9%.

The Empire State manufacturing index rose from -10.41 to -6.16 for the month, as the ongoing contraction in business conditions eased.

Business inventories rose 0.5% in August versus a 0.6% rise for business sales which kept the stock-to-sales ratio unchanged at 1.28.

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Dale Franks
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Economic Statistics for 11 Oct 12

The following US economic statistics were announced today:

The US trade balance worsened in August, as the trade deficit rose to $–44.2 billion, on declining exports due to economic weakness in both Asia and Europe.

Initial jobless claims fell unexpectedly and steeply, by 28,000, to 339,000, perhaps due to some odd seasonal adjustment factors this week. The four-week average is down 11,500 to 364,000, while continuing claims fell 15,000 to 3.273 million. This week’s level of 339,000 is the lowest of the recovery. But, as I said, there are some odd seasonal factors in play this week, so we’ll need to wait for the coming weeks’ reports to see if this low level is confirmed, or due for a big revision. UPDATE: As it turns out, California didn’t report any of its quarterly claims numbers. The seasonal adjustment was expecting a bump in those numbers, and that bump wasn’t there without the CA numbers. So, it’s thrown everything higgledy-piggledy.

Import prices rose 1.1% in August, while export prices rose 0.8%. On a year-over-basis, import prices fell –0.6%, while export prices fell –0.5%.

The Bloomberg Consumer Comfort Index dropped 1.4 points to -38.5.

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Dale Franks
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Economic Statistics for 9 Oct 12

The following US economic statistics were announced today:

The NFIB Small Business Optimism Index dropped more than a point to 92.8, which is generally regarded as a recessionary reading.

In weekly retail sales, Redbook reports a year-on-year sales growth rate of a below trend 1.6% in the latest week. ICSC-Goldman reports slightly better sales, with weekly sales growth at 0.2%, and year-over-year growth at 2.8%.

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Dale Franks
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