Free Markets, Free People

Economic statistics

Economic Statistics for 29 Jun 12

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

Personal income rose 0.2% in May, while personal spending was unchanged. The PCE price index fell -0.2% for the month, though the core rate rose 0.1%. On a year-over-year basis the index rose 1.5% overall, while the core rate rose 1.8%.

The consumer sentiment index fell to 73.2, which puts the index down to a new low for the year.

The Chicago Purchasing Managers Index rose slightly to 52.9, but the new orders component is the weakest since September 2009, pointing to slowing conditions this summer for Chocago businesses.

~
Dale Franks
Google+ Profile
Twitter Feed

Economic Statistics for 28 Jun 12

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

The Commerce Department’s final estimate of first quarter GDP was unchanged at 1.9% annualized.

Initial claims for unemployment were a higher-than-expected 386,000. The 4-week moving average dropped 750 lower to 386,750.

The Bloomberg Consumer Comfort Index rose to -36.1, the highest level in two months.

The Kansas City Fed manufacturing index rebounded 6 points to a reading of 9 in May.

~
Dale Franks
Google+ Profile
Twitter Feed

Economic Statistics for 27 Jun 12

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

Durable goods orders came in much better than expected, with an overall 1.1% increase in May. On a year-over-year basis, orders rose 4.6%. The increase was mainly the result of a big increase in aircraft orders. Ex-Transportation, orders rose 0.4% for the month, and 3.8% on a year-over-year basis.

The Mortgage Bankers’ Association reports mortgage applications fell -7.1%, with purchases down -1.0% and re-finance apps down -8.0%.

The National Association of Realtors reports that the Pending Home Sales Index rose 5.9 points to 101.1.

~
Dale Franks
Google+ Profile
Twitter Feed

Economic Statistics for 26 Jun 12

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

Consumer confidence fell 2.4 points in June to 62.0, the lowest reading of the year. Consumers are pessimistic about business conditions over the next 6 months, as well as about job availability and their incomes.

The S&P Case-Shiller home price index rose by 0.7% for June, on a seasonally adjusted basis. On a year-over-year basis, prices are still down -1.9%.

The State Street Investor Confidence Index rose 7.0 points to 93.5. Readings below 100 indicate a demand for safety.

The Richmond Fed Manufacturing Index fell to -3 in June from readings of 4 in May and 14 in April, indicating a steady decline in manufacturing.

In retail sales, Redbook’s same-store sales index shows only 2.3% year-on-year growth in the June 23 week. Meanwhile, ICSC-Goldman Store Sales rose by a sharp 2.0% for the week, but year-on-year growth fell to 2.7%, the lowest rate in 3 months.

~
Dale Franks
Google+ Profile
Twitter Feed

Economics Statistics for 25 Jun 12

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

New home sales came in at an annual rate of 369,000 in May, the best rate in more than 2 years, and well above analysts’ expectations.

The Chicago Fed national activity index fell to -0.45 in May from a revised 0.08 in April. Most production-related components declined, as did housing.

The Dallas Fed general business activity index rebounded to 5.8 in June from -5.1 in May, showing some rebound in manufacturing.

~
Dale Franks
Google+ Profile
Twitter Feed

Economic Statistics for 21 Jun 12

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

Initial claims for unemployment were 387,000 last week. The 4-week moving average rose 3,500 to 386,250. The prior week’s claims were revised upwards 3,000 to 389,000.

Existing home sales fell 1.5% in May to a 4.55 million annual rate, but were up 7.9% on a year-over-year basis.

The Philadelphia Fed’s Business Outlook Survey for June dropped to -16.6 from -5.8 in May, as business activity declined for the second straight month in the mid-Atlantic region, and declined more steeply.

The PMI manufacturing flash index for June fell 1 point to 53.9, a level over 50 to indicate monthly growth but below May to indicate a slower rate of growth.

The Bloomberg Consumer Comfort Index fell to -37.9 in the latest week. All three components of the index declined.

The FHFA purchase only house price index rose 0.8% in April, following a revised 1.6% in March.  The year-on-year rate rose 3.0%.

The Conference Board’s index of leading indicators in April rose 0.3% in May, following a 0.1% rise in April. The biggest negative components were the factory workweek and stock prices, while the positives were building permits and the spread between short and long interest rates, a spread made favorable by the Fed’s near zero rate policy.

~
Dale Franks
Google+ Profile
Twitter Feed

Economic Statistics for 20 Jun 12 (Updated)

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

The Mortgage Bankers Association announced that Mortgage applications fell -0.8%, with new purchases down a very sharp -9.0% and re-fis up 1.0%.

UPDATE: The Federal Open Markets Committee announced that due to ongoing economic weakness the target for the Fed Funds rate will remain at 0%-0.25%, and is likely to remain at "exceptionally low levels" through late 2014. The Discount Rate will remain unchanged at 0.75%. "Operation Twist" which extends the maturity of securities held by the Fed by buying long-term notes and selling short-term ones, will continue.

~
Dale Franks
Google+ Profile
Twitter Feed

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.

~
Dale Franks
Google+ Profile
Twitter Feed

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.

~
Dale Franks
Google+ Profile
Twitter Feed