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Economic statistics

Economic Statistics for 19 Jun 12

The following statistics were released today on the state of the US economy:

Housing starts declined in May by 4.8%, at a below-expected pace of 0.708 million. That is up 28.5% on a year-ago basis, however. Housing permits rose a better-than-expected 7.9%, to an annual rate of 0.780 million units. That mixes up the picture a bit, and hits at improvements over the next month in the housing sector.

Redbook’s same-store index shows a 2.4% sales increase. That’s up 0.4% from the prior week, but still soft. ICSC-Goldman Store Sales are also soft, with sales unchanged from last week. The year-on-year increase is 3.6%, the highest since mid-May, but the 4-week average is  3.1%, a 3-month low.

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Dale Franks
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Economic Statistics for 15 Jun 12

The following statistics were released today on the state of the US economy:

The Empire State Manufacturing Survey’s General Business Conditions Index fell from 17.09 last month to 2.29. as growth slowed sharply for the month.

The Treasury’s report of international capital flows to the US shows the net inflow of long-term securities rose $25.6 billion in April. Given the situation in the Euro Zone, demand for US securities is surprisingly soft.

The Consumer Sentiment index dropped a surprisingly large 5.2 points to 74.1, a 2012 low, on weakness in both expectations and current conditions.

The Fed reports that Industrial production fell by -0.1% in May. Capacity utilization also fell to 79.0% from 79.2% in April.

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Dale Franks
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Economic Statistics for 14 Jun 12

The following statistics were released today on the state of the US economy:

The Consumer Price Index for May fell -0.3% at the headline level, while the core CPI rose 0.2%. On a year-over-year basis, The CPI is up 1.7%, while the core rate is 2.3%.

Initial claims for unemployment rose 6,000to 386,000. The 4-week moving average rose 3,500 to 382,000, the third straight weekly increase.

The US Current Account Deficit increased to $137.3 billion in the first quarter vs. a revised deficit of $118.7 billion in the fourth quarter.

The Bloomberg Consumer Comfort Index rose to -36.4, the highest level since April.

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Dale Franks
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Economic Statistics for 13 Jun 12

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

Lower crude oil prices led the producer price index down -1.0% last month. The core PPI rose 0.2%. On a year-over-year basis, the PPI rose 0.2% at the headline level, and up 2.8% at the core level.

May retail sales fell -0.2%, following a -0.2% decline in April. Ex-autos, retail sales declined -0.4%, and less autos and gas were down -0.1%.

Business inventories rose 0.4%, higher than the 0.2% rise in sales but the stock-to-sales ratio remains a healthy 1.26.

The MBA reports Purchase Applications jumped 18.0% last week, with purchase applications up 13.0%, and re-fis up 19.0%.

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Dale Franks
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Economic Statistics for 12 Jun 12

The following statistics were released today on the state of the US economy:

A strong dollar—thanks to trouble in the Euro Zone—is keeping imported inflation restrained. Export prices fell -0.4% in May, down -0.1% on a year-over-year basis. Import prices fell -1.0% for the month, and -0.3% year-over-year, both due to falling agricultural prices, and petroleum-related supplies.

In weekly retail sales, Redbook reports a weak 2.0% rise in same-store sales, one of the weakest readings of the recovery. Meanwhile, ICSC-Goldman reports same-store sales down -0.7% for the week, and up 2.9% on a year-over-year basis, which is right on trend.

The NFIB Small Business Optimism Index fell -0.1 point to 94.4, with the report saying that there are no signs business will pick up this year. Expectations for future sales are the lowest for a recovery since 1973.

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Dale Franks
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Economic Statistics for 7 Jun 12

The following statistics were released today on the state of the US economy:

Initial Claims for unemployment fell 12,000 from last week’s revised 383,000 to a better-than-expected 377,000. Despite this, the 4-week moving average rose 1,750 to 377,750, the same as one month ago. Continuing claims also rose 34,000 to 3.293 million.

The Bloomberg Consumer Comfort Index rose for the thirds straight week to -37.6, on improved personal finances and buying climate.

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Dale Franks
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Economic Statistics for 6 Jun 12 (UPDATED)

The following statistics were released today on the state of the US economy:

The Ceridian-UCLA Pulse of Commerce Index rose 0.8% in May to 94.92.

First quarter productivity—like GDP—was revised downwards to a -0.9% decline, while unit labor costs rose 1.3%.

The MBA reports mortgage applications are weak, with the composite index up 1.3%. Purchase apps are down -1.8%, while refis rose 2%.

UPDATE: This afternoon’s Beige Book from the Fed says overall economic activity has expanded at a "moderate" pace, led by manufacturing expansion in most Districts.

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Dale Franks
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Economic Statistics for 5 Jun 12

The following statistics were released today on the state of the US economy:

Despite slowing employment growth, the ISM Non-Manufacturing Index rose 0.2 points to 53.7. Growth in most components remained steady, while the new orders component increased by 2 points to 55.5.

The Ceridian-UCLA Pulse of Commerce Index is delayed at the source this morning.

In retail sales, Redbook same-store year-on-year sales were right on trend with a 3.1% increase last week. ICSC-Goldman’s same-store sales rose 0.4% for the first weekly increase since April 21. The year-on-year rate, however, is still weak at 2.8%.

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Dale Franks
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