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Economic statistics

Economic Statistics for 19 Feb 14

The MBA reports that mortgage applications fell -4.1% last week, with purchases down -6.0% and re-fis -3.0%.

In weekly retail sales, ICSC Goldman reports a 2.5% weekly sales increase, and a 2.1% year-on-year increase. Meanwhile, Redbook says sales rose 3.2% on a year-ago basis.

Thanks to the extreme cold, housing starts plunged -16% in January to a 0.88 million annual rate.

A completely revised method of reporting Producer prices was released today. The overall PPI for January rose 0.2%, which was 1.2% on a year-over-year basis. The core PPI, less food, energy & trade services, rose 0.1% for the month. There is no annual comparison for the latter method of calculating the core PPI rate. The PPI for goods rose 0.4% for the month, and 0.9% for the year. The PPI for trade services rose 0.1% for the month, and 1.3% for the year.


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Economic Statistics for 14 Feb 14

Export prices rose 0.2% in January, while import prices rose 0.1%. On a year-over-basis, export prices are down -1.2% and import prices down -1.5%.

The Fed reports that  industrial production fell -0.3% in January, while capacity utilization in the nation’s factories declined -07% to 78.5%.

The University of Michigan’s Consumer Sentiment Index remained steady at 81.2 in February.


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Economic Statistics for 13 Feb 14

Initial jobless claims rose 8,000 to 339,000. The 4-week average rose 2,750 to 336,750, while continuing claims fell 18,000 to 2.953 million.

Retail sales in January fell a worse than expected -0.4%, following December’s -0.1% drop.

The Bloomberg Consumer Comfort Index rose 1.4 points to -30.7 in the latest week.

Business Inventories rose a troubling 0.5% in December, while a meager 0.1% sales increase raised the stock-to-sales ratio to 1.30.

The Fed’s balance sheet rose $10.2 billion last week, with total assets of $4.119 trillion. Reserve Bank credit increased $10.5 billion.

The Fed reports that M2 money supply rose by $14.9 billion in the latest week.


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Economic Statistics for 12 Feb 14

The Treasury announced that the deficit in January came in at $10.4 billion with the year-to-date deficit  at $144 billion Last year at this time, the deficit was $290 billion.

The MBA reports that mortgage applications fell -2.0% last week, with purchases down 5.0% and re-fis down -0.2%.

The Atlanta Fed Business Inflation Expectations survey shows expectations of 2.0% inflation for the next year.


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Economic Statistics for 11 Feb 14

The NFIB Small Business Optimism Index rose slightly to 94.1 in January from the previous month’s 93.9.

ICSC Goldman reports a -0.3% weekly retail sales drop, and a 2.3% year-on-year increase. Meanwhile, Redbook says sales rose a slow 2.8% on a year-ago basis.

Wholesale inventories rose 0.3% in December, but a 0.5% sales increase left the stock-to-sales ratio unchanged at 1.17.


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Economic Statistics for 7 Feb 14

Consumer credit jumped $18.8 billion in December, including a big $5.0 billion increase in revolving credit.

The BLS reported a paltry 113,000 net new jobs were created in January. Yet the unemployment rate laughably fell a tick to 6.6%. Still, 638,000 people came back into the labor force, and the participation rate rose 0.2% to 63%. Average hourly earnings increased by 0.2%, while the average work week remained steady at 34.4 hours.


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Economic Statistics for 6 Feb 14

Chain stores sales are being reported today, and show significant weakness in January, with year-on-year sales rates sharply lower than December.

The Challenger Job-Cut Report shows a jump to 45,107 layoffs in January, versus December’s 30,623.

The Gallup US Payroll to Population rate declined to 42.0% in January from 42.9% in December.

The US trade deficit increased to $38.7 billion in December from $34.6 billion in November, mainly from a -1.8% decline in exports.

Initial jobless claims fell 20,000 to 331,000. The 4-week average rose 1,000 to 334,000, while continuing claims rose 15,000 to 2.964 million.

Non-farm productivity rose at a healthy 3.2% annualized rate, while unit labor costs declined -1.6% annualized.

The Bloomberg Consumer Comfort Index fell -1.3 points to -33.1 in the latest week.

The Fed’s balance sheet rose $7.1 billion last week, with total assets of $4.109 trillion. Reserve Bank credit increased $4.2 billion.

The Fed reports that M2 money supply rose by $25.5 billion in the latest week.


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Economic Statistics for 4 Feb 14

A plunge in aircraft orders sent December factory orders down -1.5%, but ex-transportation orders actually rose 0.2%.

Gallup’s Economic Confidence Index rose to -16 for January, up from -19 in December.

In weekly retail sales, ICSC Goldman reports a 0.3%  weekly sales increase, but only a 0% year-on-year increase. Meanwhile, Redbook says sales rose a weak 2.7% on a year-ago basis.


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