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Economic statistics

Economic Statistics for 15 Jan 13

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

In weekly retail sales, ICSC-Goldman Store Sales fell another -0.6% for the week, and only up 3.3% from last year. Redbook also reports a weak 1.9% year-on-year sale growth rate.

Business inventories rose 0.3% in November, vice a 1.0 percent rise for sales. The inventory-to-sales ratio rounds out to 1.28, the lowest ratio since May.

The Empire State Manufacturing Survey fell more than a point to -8.10, indicating a deepening contraction in manufacturing.

The Commerce Department reports rose 0.5% in December. Sales ex-autos rose 0.3%, while sales ex-autos and gas rose 0.6%.

The Producer Price Index fell -0.2% in December, while the core rate rose 0.1%. On a year-over-year basis, the PPI rose 1.3%, while the core rate rose 2.0%.

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Dale Franks
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Economic Statistics for 11 Jan 12

The following US economic statistics were announced today:

Export prices in December fell -0.1%, while import prices rose by 1.1%. On a year-over-year basis, import prices are down -0.1% and export prices are down -1.5%. Softening prices may be a harbinger of economic slowdown, but, on the plus side, we can expect inflation to remain restrained in the immediate future.

The the US trade deficit expanded to $48.7 billion in November, a $6.6 billion increase from October. Apparently, though, this is a one-time surge due to imports of the iPhone 5 from China.

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Dale Franks
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Economic Statistics for 10 Jan 13

The following US economic statistics were announced today:

Wholesale sales growth rose a greater than expected 2.3% in November, while the inventory build was 0.6%. This drove the stock-to-sales ratio down to 1.19. Big sales gains were noted in food, apparel, cars and computers.

Initial jobless claims rose 4,000 to 371,000 last week, and the 4-week average moved up 6,750 to 365,750. Continuing claims fell a very substantial 127,000 to 3.109 million.

The Bloomberg Consumer Comfort Index fell nearly 4 points to -34.4, holding in the -30s for the 16th straight week, a recession high.

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Dale Franks
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Economic Statistics for 8 Jan 13

The following US economic statistics were announced today:

In weekly retail sales, Redbook reports a very disappointing 2.1% increase from the previous year. ICSC-Goldman reports a weekly sales plunge of -4.2%, but a confusing 4.0% increase on a year-over-year basis, giving a very mixed picture.

Consumer credit rose strongly once again, up $16.0 billion for November, following $14.2 billion and $12.0 billion increases in October and September, respectively.

The NFIB Small Business Optimism Index rose 0.5 points in December to a still very low and recessionary 88.0.

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Dale Franks
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Economic Statistics for

The following US economic statistics were announced today:

Factory Orders were unchanged in November.  Non-durable orders fell -0.6%, but on the plus side, durable orders rose 0.8%. Included in that were a sharp rise in capital goods, which suggests future spending is on the way.

The November Employment Situation indicates that there were 155,000 net new jobs created in November, and the unemployment rate rose to 7.8%. Average hourly earnings rose 0.3%, while weekly hours rose slightly to 34.5 hours. The labor force participation rate held steady at a low 63.6%. At historical labor force participation rates, the unemployment rate would be 11.41%, up from 11.23% in October.

The ISM Non-Manufacturing Index rose 1.4 points to a better-than-expected 56.1.

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Dale Franks
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Economic Statistics for 3 Jan 12

The following US economic statistics were announced today:

The Bloomberg Consumer Comfort Index rose 0.3 points this week to -31.8, an 8-month high.

Chain stores are reporting December sales today, and it seems to be a mixed bag, as some retailers are lowering earnings guidance, while others are raising it. Many report the month got off to a slow start, forcing retailers to offer greater discounts.

The MBA reports that mortgage applications fell -21.6% last week, with purchases down -14.8% and refinancings down -23.3%.

The Challenger Job-Cut Report shows only 32,556 layoffs in December, the lowest since August.

The ADP Employment Report shows a strong 215,000 gain in private payrolls for December. We’ll see if that’s reflected in tomorrow’s Employment Situation.

Initial claims for unemployment rose 10,000 last week, to 372,000. The 4-week moving average rose 3,250 to 360,000, Continuing claims rose 44,000 to 3.245 million. The improvement last week is now gone due to a sharp revision upward 12,000  to 362,000.

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Dale Franks
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Economic Statistics for 2 Jan 13

The following US economic statistics were announced today:

In weekly retail sales, Redbook reports a below-plan 2.9% increase from the previous year. ICSC-Goldman reports a relatively strong weekly sales increase of 0.6%, and a 2.7% increase on a year-over-year basis.

Construction spending in November fell -0.3%, though it was still 7.7% higher on a year-over-year basis.

The Markit Economics’ final December PMI Manufacturing Index is 54.0, up 1.2 points from November’s 52.8.

The ISM Manufacturing Index is a relatively weak 50.7 for December, but is still up more than a point from November’s 49.5.

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Dale Franks
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Economic Statistics for 27 Dec 12

The following US economic statistics were announced today:

The Conference Board’s consumer confidence index plunged 6.4 points this month to 65.1, as fiscal cliff worries begin besetting consumers.

The Bloomberg Consumer Comfort Index fell slightly from -31.9 to -32.1.

Initial claims for unemployment fell 12,000 last week, to 350,000. The 4-week moving average fell 11,250 to 356,750, Continuing claims fell 25,000 to a new recovery low of 3.219 million.

New home sales for November rose 4.4% to an annual rate of 377,000. The annual rate has risen slowly all year, from 340,000 in January.

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Dale Franks
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Economic Statistics for 26 Dec 12

The following US economic statistics were announced today:

In weekly retail sales, Redbook reports a relatively weak 2.9% increase from the previous year. ICSC-Goldman reports a weekly sales increase of 0.7%, and a 3.2% increase on a year-over-year basis.

The S&P Case-Shiller Home Price Index rose a seasonally-adjusted 0.7% in October, which is 4.3% higher on a year-over-year basis.

The Richmond Fed Manufacturing Index declined from 9 last month, to 5 in December.

State Street’s investor confidence index rose 0.4 points to 80.9 in December. The report says confidence is "weak".

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Dale Franks
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