Free Markets, Free People

Economic statistics

Economic Statistics for 3 Dec 12

The following US economic statistics were announced today:

Construction spending rose 1.4% in October, and was up 9.6% on a year-over-year basis.

Vehicle sales have been coming in strong today, with domestic sales at an annualized 11.7 million. Overall vehicle sales are set to top 15 million, the best rate since the 15.5 million annualized in February, 2008. Ford, Honda, and Nissan are posting better sales than expected, while GM sales are weaker than expected.

The Markit Economics PMI Manufacturing Index rose 0.7 points to 52.8, indicating increased manufacturing growth.

In contrast, the ISM Manufacturing Index dropped sharply from 51.7 to a weaker than expected 49.5, a below-50 reading that indicates economic contraction.

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Dale Franks
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Economic Statistics for 30 Nov 12

The following US economic statistics were announced today:

Personal Income was unchanged in October, while spending fell -0.2%. Both the headline and core the PCE Price Index rose 0.1%. On a year-over-year basis, both income and spending rose 3.1%, while inflation rose 1.7% at the headline level and 1.6% at the core level.

The Chicago Purchasing managers Index is essentially unchanged for November, up 0.1 points to 50.4, indicating barely any growth.

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Dale Franks
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Economic Statistics for 29 Nov 12

The following US economic statistics were announced today:

Chain stores are reporting mostly lower sales growth for November, as weak sales early in the month wasn’t offset by stronger sales later.

Initial claims for unemployment fell 23,000 last week, to 393,000. The 4-week moving average remains high at 405,250. Continuing claims fell 70,000 to 3.287 million.

The first revision for 3rd Quarter GDP was revised upwards substantially to 2.7% annualized, but due to inventories, not demand growth. Consumer spending and business equipment were both revised downwards. The GDP Price Deflator, an inflation measure, remained high at 2.7%, though the core rate, ex-food and energy, was revised down to 1.3%.

Corporate profits in the 3rd quarter grew to $1.752 trillion annualized, versus $1.665 trillion in the 2nd quarter.

The Pending Home Sales Index rose 5.2% to 104.8 in October.

The Bloomberg Consumer Comfort Index rose 0.9 points to -33.0.

The Kansas City Fed Manufacturing Index fell to -6 in November, down from -4 in October.

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Dale Franks
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Economic Statistics for 27 Nov 12

The following US economic statistics were announced today:

In weekly retail sales, Redbook reports a big 4.5% increase from the previous year. Similarly, ICSC-Goldman reports a weekly sales increase of 3.3%, and a 4.0% increase on a year-over-year basis.

Durable goods orders were unchanged in October, though they were up 2.3% on a year-over-year basis. Ex-transportation, orders were actually up 1.5% for the month, but down -2.3% from last year.

Case-Shiller’s seasonally adjusted monthly home price index rose 0.4% in September, the third consecutive monthly increase.

The Conference Board’s consumer confidence index improved in November to a reading of 73.7.

The FHFA House Price Index rose 0.2% for September, and was up 4.3% on a year-over-year basis.

The Richmond Fed Manufacturing Index rose sharply to 9 from last month’s -7, as activity picked up in the district.

State Street’s investor confidence index for November remains "quite weak" at 81.2.

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Dale Franks
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Economic Statistics for 21 Nov 12

The following US economic statistics were announced today:

Initial claims for unemployment fell 41,000 last week, to 410,000. The 4-week moving average rose to 396,250. Continuing claims fell 30,000 to 3.337 million. The huge swings of the past couple of weeks are clearly related to Hurricane Sandy, so getting any handle on the fundamentals of the labor market are impossible with the current weekly volatility.

The MBA reports that mortgage applications fell –2.2% last week, with purchases up 3.0% and refinancings –3.0%. Despite an overall decline in applications, purchase applications are trending up, which is a positive trend for the health of the housing market.

The Bloomberg Consumer Comfort Index fell –0.8 points to –33.9.

The Reuter’s/University of Michigan’s consumer sentiment index fell more than 2 points to 82.7.

The Conference Board’s index of leading economic indicators rose 0.2% in October.

The Markit Economics PMI Manufacturing Index Flash rose more than a point to 52.4 for the mid-month flash. Anything over 50 generally indicates economic growth.

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Dale Franks
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Economic Statistics for 20 Nov 12

The following US economic statistics were announced today:

In weekly retail sales, Redbook reports a lackluster 1.8% increase from the previous year. ICSC-Goldman reports a weekly sales decline of -0.3%, and a weak 2.5% increase on a year-over-year basis.

Housing starts rose 3.6 percent in October to an annual pace of 894,000. Building permits, an indicator of future construction activity, fell 2.7% to an annual pace of 866,000.

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Dale Franks
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