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Economic statistics

Economic Statistics for 21 Dec 12

The following US economic statistics were announced today:

The Reuter’s/University of Michigan’s consumer sentiment index is down nearly 10 points in December to 72.9  from last month’s 82.7.

The Chicago Fed National Activity Index turned positive, coming in at 0.10 vice a revised -0.64 in October.

Personal income in October was up 0.6%, following a flat October. Consumer spending rose 0.4%, compared to a -0.2% drop in October. For inflation, the PCE price index fell -0.2% while the core rate was unchanged. On a year-over-year basis, income is up 4.1% while spending is up 3.5%; the PCE is up 1.4% at the headline level and 1.5% at the core.

Durable goods orders in November rose 0.7%, while ex-transportation orders were up 1.6%. This is the second consecutive monthly increase.

The Kansas City Fed manufacturing index fell to -6 in November from -4 in October.

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Dale Franks
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Economic Statistics for 20 Dec 12

The following US economic statistics were announced today:

The index of leading indicators fell -0.2% in November, as expected, due mainly to temporary, Sandy-related weakness in employment.

The Bloomberg Consumer Comfort Index rose to an eight month high of -31.9 from -34.5.

Initial claims for unemployment rose 17,000 last week, to 361,000. The 4-week moving average fell 14,000 to 367,750. Continuing claims rose 12,000 to 3.225 million.

Corporate profits in the third quarter rose 17.9% to $1.742 trillion annualized.

Existing home sales rose 5.9% to a much better than expected 5.04 million annual rate.

Philadelphia Fed Survey took a big jump back into positive territory, rising to 8.1 from last month’s -10.7.

The FHFA House Price Index rose 0.5% in October, which is up 5.6% on a year-over-year basis.

3rd quarter GDP was revised up to an annualized 3.1% in the final estimate, a big change from the initial 2.0% estimate. A big change. The GDP price index, an inflation measure, rose 2.7%.

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Dale Franks
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Economic Statistics for 19 Dec 12

The following US economic statistics were announced today:

November housing starts came in at a slightly les than expected 0.861 million pace, but building permits rose 3.6 percent to an annual pace of 0.899 million.

The MBA reports that higher interest rates made mortgage applications plunge -12.3% last week, with purchases down -5.0% and refinancings down -14.0%. An increase in mortgage rates caused the drop in activity.

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Dale Franks
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Economic Statistics for 18 Dec 12

The following US economic statistics were announced today:

In weekly retail sales, Redbook reports a 2.4% increase from the previous year. ICSC-Goldman reports a strong weekly sales increase of 4.3%, and a 3.5% increase on a year-over-year basis.

The Housing Market Index tose to 47, as homebuilders report the best conditions in more than five years.

The US current account deficit fell by $11 billion in the 3rd quarter, to -$107.5 billion. 

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Dale Franks
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Economic Statistics for 14 Dec 12

The following US economic statistics were announced today:

The Fed reports that industrial production rose a strong 1.1% in November, while capacity utilization in the nation’s factories rose to 78.4%.

The Consumer Price Index fell -0.3% in November, but the core rate rose 0.1%. On a year-over-year basis, the CPI rose 1.8%, and the core rate rose 1.9%

The PMI Manufacturing Index Flash rose almost 2 points to 54.2 for the first half of December.

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Dale Franks
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Economic Statistics for 13 Dec 12

The following US economic statistics were announced today:

Initial jobless claims fell 29,000 last week, to 343,000. The 4-week moving average fell 27,000 to 381,500. Continuing claims fell 23,000 to 3.271 million.

The producer price index in November fell -0.8%. The core rate, which excludes both food and energy, rose 0.1%. On a year-over-year basis, the PPI is up 1.4%, while the core PPI is up 2.2%.

Retail sales rose 0.3% overall in November, while sales ex-autos were unchanged, and sales ex-autos and gas rose 0.7%.

Business Inventories rose 0.4% in October, but falling sales pushed the stock to sales ratio up to 1.29.

The Bloomberg Consumer Comfort Index fell another -0.7 points to -34.0.

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Dale Franks
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Economic Statistics for 12 Dec 12 (Updated)

The following US economic statistics were announced today:

The MBA reports that mortgage applications rose 6.2% last week, with purchases up 1.0% and refinancings up 8.0%.

Export prices fell -0.7% in November, but are up 0.7% over last year. Import prices fell -0.9% for the month, and are down -1.6% Year-over-year.

The Fed announced after the FOMC meeting this afternoon that short-term interest rates would remain close to 0% unless unemployment declines to 6.5%. They also said that the $85 billion a month in bond buys would continue. Gold rose more than $6.00 immediately after the announcement. Crude oil futures rose as well.

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Dale Franks
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Economic Statistics for 11 Dec 12

Following a quiescent Monday, the us economic calendar kicks off this week with the following statistics:

In weekly retail sales, Redbook reports a 2.2% increase from the previous year. ICSC-Goldman reports a weekly sales decline of -0.7%, and a 2.5% increase on a year-over-year basis. Sales growth has been slow for two straight weeks, and analysts say consumers are awaiting the final round of pre-holiday bargains before buying.

The U.S. international trade gap in October widened to $-42.2billion as exports declined.

The NFIB Small Business Optimism Index in November fell a steep 5.6 points to 87.5, going deeper into recessionary territory.

Wholesale inventories rose 0.6% in October, with an unexpected -1.2% drop in sales, leaving a stock-to-sales ratio at a troubling 1.22.

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Dale Franks
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Economic Statistics for 7 Dec 12

The following US economic statistics were announced today:

The Monster Employment index rose 2 points to 158 in November.

The Reuter’s/University of Michigan’s consumer sentiment index a very steep 8.2 points to 74.5.

Nonfarm payroll employment in November increased by a lackluster 146,000 new jobs. Average hourly earnings increased by 0.2%. The average workweek was unchanged at 34.4 hours. Turning to the household survey, the unemployment rate fell to 7.7%, as 350,000 workers left the labor force, bringing the labor force participation rate back down to 63.6. At the historical rate of labor participation, the unemployment rate would actually have jumped by 0.2% to 11.4%. In all, the labor market remains moribund, as job creation remains weak and labor force participation remains at historic lows.

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Dale Franks
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