Free Markets, Free People

Economic statistics

Economic Statistics for 23 Aug 12

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

The FHFA reports the house price index rose 0.7% for June, and is up 3.6% year-over-year.

Initial jobless claims rose 4,000 for a second straight week to 372,000. the 4-week moving average rose 1,000 to 368,000. Continuing claims rose 4,000 to 3.317 million.

The Markit Economics PMI Manufacturing Index Flash rose 0.5 points to 51.9, indicating low but rising manufacturing activity.

The Bloomberg Consumer Comfort Index fell a steep 3.0 points to -47.4 for the sixth straight drop and the lowest reading since December, 2011.

New home sales rose 3.6% in July to an annual unit rate of 372,000, well above consensus, and the best since July 2010.

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Dale Franks
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Economic Statistics for 21 Aug 12

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

In weekly retail sales, Redbook’s year-on-year chain store sales growth came in at a 1.9% rate, the 5th time in 6 weeks it’s been below 2%. Redbook’s month-on-month rate is -0.3%, signaling weakness in the upcoming government reports on retail sales. ICSC-Goldman showed a -1.5% sales decrease for the week, and a year-on-year rate of 3.1%, which is down -0.5% from last week.

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Dale Franks
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Economic Statistics for 20 Aug 12

T

his will be a light week for economic statistics, with the only releases of importance being home sales on Wednesday and Thursday for existing and new homes respectively, and Friday’s Durable Goods Orders release. The remainder of this weeks releases are the regular weekly numbers.

For today, there is only one release. The Chicago Fed National Activity Index rose slightly to -0.13 from last month’s -0.15, thought the negative number indicates the economy is still below trend. This is the fifth consecutive negative number, and the 3-month moving average fell slightly to -0.21.

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Dale Franks
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Economic Statistics for 17 Aug 12

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

The Reuter’s/University of Michigan’s consumer sentiment index rose slightly to 73.6, on improved current conditions. But optimism seems to be waning as the expectations index fell 1.1 points to 64.5.

The Conference Board’s index of leading indicators rose 0.4% in July, led by improvements in jobless claims and building permits.

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Dale Franks
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Economic Statistics for 16 Aug 12

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

The general business conditions index of the Philadelphia Fed’s Business Outlook Survey improved to-7.1 from July’s -12.9. In other words, the rate of contraction isn’t as bad as it was less month.

Housing starts in July fell -1.1% after rising 6.9% in June. The July pace of 0.746 million units was up 21.5% on a year-ago basis.

Initial jobless claims rose 2,000 last week to 366,000, but the 4-week average, at 363,750, was down 5,500 from the prior week.

The Bloomberg Consumer Comfort Index fell to -44.4, which is its lowest reading since January 29.

E-commerce sales rose 3.3% in the second quarter, with year-on-year growth at 15.3%. E-commerce sales were 5.1% of total retail sales.

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Dale Franks
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Economic Statistics for 15 Aug 12

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

The consumer price index was unchanged in July, after being unchanged in June and falling -0.3% in May. Excluding food and energy, the core CPI rose 0.1%, following 0.2% in the last two months. On a year-over-year basis, the CPI is up 1.7%, with the core CPI rising 2.2%

Industrial production rose 0.6% in July following a 0.4% increase in June. Overall capacity utilization improved to 79.4% from 78.9% in June.

The Empire State manufacturing index for August fell sharply to -5.85 from July’s 7.39, indicating weakness in the manufacturing sector.

The net capital inflow of long-term securities rose only $9.3 billion in June, the the weakest since October, 2011.

The NAHB housing market index rose 2 points this month to 37, nearly the highest since early 2007.

The MBA reports mortgage applications declined last week, falling a sharp -4.5%. Purchase apps fell -2.0%, while re-fi apps fell -5.0%.

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Dale Franks
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Economic Statistics for 14 Aug 12

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

In weekly retail sales, Redbook year-year chain store sales growth came in at a 1.8% rate, the 4th time in five weeks it’s been below 2%. ICSC-Goldman showed a -0.3% sales decrease for the week, but an improved year-on-year rate of 3.6%.

Business inventories in June rose 0.1%, outpacing sales which fell 1.1%. The mismatch for June raised the stock-to-sales ratio to 1.29, the highest in 2 1/2 years. This inventory accumulation will hold down GDP, and slow sales will hold down business confidence.

The NFIB Small Business Optimism Index fell -0.2 points in July to 91.2, after two months of improvement.

The Producer Price Index in July jumped 0.3% percent, following a 0.1% increase in June. The core PPI rose 0.4%, following June’s 0.2% gain. On a year-over-year basis, the PPI is up 0.5%, but the core PPI is up 2.5%.

Retail sales in July jumped 0.8 %, following a weak -0.2% drop in May and a weaker -0.5% decrease in June. Retail sales ex-autos also rose 0.8%, while ex-auto and ex-gas sales rose 0.9%.

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Dale Franks
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Economic Statistics for 9 Aug 12

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

The U.S. international trade gap in June narrowed to $42.9 billion from $48.7 billion, mainly from lower fuel prices and imports.

The Bloomberg Consumer Comfort Index fell to -41.9 in the latest period, the lowest reading in two months.

Wholesale sales fell -1.4% in June, while inventories declined only -0.2%, a mismatch that increases the inventory-to-sales ratio to 1.20.

Initial jobless claims fell 6,000 to 361,000 last week. The 4-week average rose 2,250 to 367,000. Continuing claims rose 53,000 to 3.32M.

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Dale Franks
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