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Economic statistics

Economic Statistics for 15 Aug 13

The following US economic statistics were announced in today’s heavy round of releases:

The CPI rose 0.2% in July, at both the headline and core levels. On a year over year basis, consumer prices are up 2.0% overall and 1.7% at the core.

Initial jobless claims fell 15,000 to a recovery low 320,000 last week. The 4-week average fell 4,000 to 332,000. Continuing claims fell 38,000 to 2.987 million. All signs are pointing to a good employment picture for August.

The Empire State manufacturing index in August fell nearly a point to 8.24.

Net purchases of long-term US securities in August were $-66.9 billion vice a revised $-27.0 billion in July, as foreign investors sold &77.8 billion in US securities.

The Fed reports that Industrial Production was unchanged in July, while capacity utilization in the nation’s factories fell 0.2% to 77.6%. Manufacturing fell -0.1%.

The Bloomberg Consumer Comfort Index fell 3 points to -26.6 in the latest week.

The NAHB Housing Market Index continues to rise, up another 2 points to 59 for August, a seven-year high.

The Philadelphia Fed’s Business Outlook fell 10 points to 9.3 in August.

E-Commerce sales rose 4.9% in the 2nd Quarter of 2013. Year-over-year sales are up a very strong 18.4%.

The fed reports that M2 money supply grew by $21.9 billion last week.

The Fed’s balance sheet rose by $61.0 billion last week, bringing total Fed assets to $3.646 trillion.

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Dale Franks
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Economic Statistics for 14 Aug 13

Here are today’s statistics on the state of the economy:

The Atlanta Fed Business Inflation Expectations report for August indicates that businesses expect 2.0% inflation for the year ahead, up from 1.8% last month.

July producer prices were unchanged overall, with the core rate up only 0.1%. On a year over year basis, the PPI is up 2.1%, and 1.2% for the core rate.

The MBA reports that mortgage apps continue to decline, down -4.7% last week, with purchases at -5.0% and re-fis at -4.0%.

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Dale Franks
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Economic Statistics for 13 Aug 13

The following US economic statistics were announced today:

The NFIB Small Business Optimism Index rose 0.6 points to 94.1 in July.

ICSC-Goldman Store Sales were down -0.2% last week, and up 2.6% from last Year, Redbook’s reading shows a 3.7% year-over-year increase.

Retail sales for July rose 0.2% overall, and were up 0.5% ex-autos, and 0.4% ex-autos and -gas.

US export prices fell -0.1% in July, while import prices rose 0.2%. On a year-over-year basis, export prices are up 0.4%, while import prices are up 1.0%.

Business inventories were unchanged for June, as was the stock-to-sales ratio, at 1.29.

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Dale Franks
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Economic Statistics for 8 Aug 13

The following US economic statistics were announced today:

The Bloomberg Consumer Comfort Index rose 3.5 points to -23.5, the highest in 5 years.

Chain store sales were mostly positive for July, though most of the increases come from new stores, with same store sales a bit weak.

Initial claims for unemployment rose 7,000 last week, to 333,000. The 4-week moving average fell 5,750 to 335,500, Continuing claims rose 59,000 to 3.018 million.

The Fed’s balance sheet rose $13.6 billion last week, with total assets of $3.585 trillion. Reserve Bank credit increased $10.3 billion.

The Fed reports that M2 Money Supply increased by $46.4 billion last week.

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Dale Franks
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Economic Statistics for 6 Aug 13

Here are today’s statistics on the state of the economy:

America’s trade deficit narrowed to $-34.2 billion in June. Exports rose, and imports fell, though the falling imports may signal a lack of domestic consumer demand.

The Gallup Economic Confidence Index (ECI) fell from -98 to -12 in July.

Redbook is reporting solid retail sales growth at 3.7% from a year ago. ICSC-Goldman reports retail sales rose 0.3% last week, and are up 2.5% from a year ago.

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Dale Franks
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Economic Statistics for 2 Aug 13

Here are today’s statistics on the state of the economy:

A disappointing 162,000 net new jobs were created in July, but the Unemployment rate declined to 7.4%. The working age population increased by 204,000 last month, yet the labor force declined by 37,000. So, "unemployment" fell. Yay! In the real world, the labor force participation rate fell to the historic low of 63.4% again. Also, the average work week decreased by 0.1 hour in July to 34.4 hours, while average hourly compensation dropped by 2 cents to $23.98. Of the new jobs created last month, a quarter were in restaurant or food services. Using the historical average level of labor force participation, the real unemployment rate is 11.58%.

Personal income rose 0.3% in June while consumer spending jumped 0.5%. The overall PCE price index rose a sharp 0.4%, while the core rate rose 0.2%. On a year-over-year basis income rose 3.1% but spending rose 3.3%, while the PCE price index is up 1.3% and the core PCE is up 1.2%.

Factory orders rose 1.5% in June, entirely on transportation orders. Ex transportation orders fell -0.4%.

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Dale Franks
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Economic Statistics for 1 Aug 13

Here are today’s statistics on the state of the economy:

Overall motor vehicle sales fell 0.2% in July, to a still strong 15.7 million annual rate. Despite that slight drop, most automakers saw strong sales gains on a year-over-year basis, with GM, Ford and Chrysler all seeing double digit gains.

The Challenger Job-Cut Report shows July layoffs fell to 37,701 from June’s 39,372.

Initial jobless claims fell 19,000 to 236,000. The 4-week average fell 4,000 to 341,250, while continuing claims fell 52,000 to 2.951 million.

The Markit PMI manufacturing index rose 2 points to 53.7 in July.

The Bloomberg Consumer Comfort Index rose 0.3 points to -27.0 in the latest week.

The ISM manufacturing index rose a sharp 5 points in July to 55.4, the strongest reading in more than 2 years.

Construction spending fell by -0.6 in June, well below expectations of a 0.4% increase.

For the July 31 week, the Fed balance sheet dropped $2.8 billion, with total assets of $3.572 trillion.

The Fed reports that M2 money supply rose by $16.8 billion in the latest week.

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Dale Franks
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