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Economic statistics

Economic Statistics for 30 Jan 12

Today’s economic statistical releases:

Personal income rose 0.5% in December, while personal spending remained unchanged. On a year over year basis, income rose 3.8 %, while spending rose 3.9%, once again exceeding the rise in income. The Core PCE Price Index, an inflation measure,rose 0.2% for the month, and is up 1.8% over last year.

The Dallas Fed Manufacturing Survey shows that manufacturing picked up the Texas Fed District last month. The general business activity index rose from -3.0 in the prior month to 15.3, and the production index rose to 5.8 from -1.3.

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Dale Franks
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Economic Statistics for 27 Jan 12

Today’s economic statistical releases:

The advance estimate for 4th Quarter GDP came in at 2.8% annualized growth. This beats the 3rd Quarter’s 1.8%, yet still falls below analyst expectations of 3.1%. GDP was up 1.6% over last year, a relatively anemic rate of growth.

The University of Michigan reports their Consumer Sentiment index continues to rise, coming in at 75, compared to 74 from two weeks ago.

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Dale Franks
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Economic Statistics for 26 Jan 12

Today’s economic statistical releases:

Durable goods orders for December rose a sharp 3%, and ex-transportation orders were up 2.1%. November orders were also revised upward sharply to 4.3% from 3.7%

Initial claims for unemployment rose 21,000 to 377,000. The 4-week moving average still dropped, however, to 377,500.

The Bloomberg Consumer Comfort Index rose 1 point to -46.4.

The Chicago Fed reports its National Activity Index rose to 0.17 in December from -0.46 the prior month. The 3-month moving average stands at -0.19, which is slightly below-trend growth.

New home sales in December fell 2.2% to a disappointing 307,000 annual rate, well below analyst expectations of 320,000.

The Conference Board reports that the Index of Leading Economic Indicators—which has received a huge revision to the components that make it up—rose 0.4% last month. In the LEI, money supply has been removed in place of a new credit measure, and deliveries have been dropped in favor of the ISM New Orders index. As part of this makeover, previous months have been revised sharply downward to 0.2% and 0.6%.

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Dale Franks
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Economic Statistics for 25 Jan 12

Today’s economic statistics are all about housing:

After last week’s huge rise, the MBA is reporting a sharp pullback on mortgage applications. The composite index fell -5% last week, with the purchase index off -5.4% and refinance index down -5.2%.

FHFA reports house prices rebounded a bit, up 1% for the month, but still down -1.8% compared to last year.

The Pending Home Sales Index fell to 96.6 from 100.1 this month. Pending home sales volume is down -3.5%.

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Dale Franks
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Economic Statistics for 24 Jan 12

Today’s economic statistical releases:

The week has started slowly, as there were no releases yesterday, and only minor releases today.

Retail sales, as reported by Redbook, have slowed substantially in January, as last week was…weak, and so is this week, with the year-on-year same-store sales rate falling 0.5% 2.8%. ICSC-Goldman Store Sales also fell steeply, down -1.4% from last week, and up only 2.8% from last year.

The Richmond Fed index rose strongly from last month’s 3 to 12 this month, indicating expanding growth in the richmond district’s manufacturing sector.

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Dale Franks
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Economic Statistics for 19 Jan 12

Today’s economic statistical releases:

The Consumer Price Index was unchanged in December. The Core CPI, which excludes food and energy prices, rose only 0.1%.

Housing starts slipped to a 650,000 annualized rate in December. Housing permits, though, rose to a 6798,000 rate, which is encouraging.

Initial jobless claims dropped by 50,000 to an unexpectedly low 352,000, the largest weekly drop since September 2005. The 4-week moving average dropped from 381,750 to 379,000. Continuing claims also greatly improved, falling 215,000 to 3.432 million.

The Bloomberg Consumer Comfort Index fell to -47.4 from the last reading’s -44.7.

The Philadelphia Fed’s survey shows a drop in general business conditions to 7.3 from last month’s 10.3.

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Dale Franks
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Economic Statistics for 18 Jan 12

Today’s economic statistical releases:

Industrial production rose by 0.4% last month, with manufacturing increasing 0.9%. Capacity utilization rose to 78.1%.

The overall Producer Price Index fell -0.1% last month, but is up 4.8% on a year-over-year basis. The Core PPI, minus food and energy—rose 0.3%, and is up 3% for the year.

The Housing Market Index rose from a depressed 21 to a slightly less depressed 25 last month.

The Mortgage Bankers Association is reporting a huge jump in mortgage applications, with purchase apps up 10.3% and re-finance apps up 26.4%, bringing the composite up 23.1% for the week.

In weekly retail sales, Redbook reports a second slow weeks of retail sales, with a year-over-year sales increase of only 2.8%. ICSC-Goldman Store Sales are also soft, with chain store sales up only 0.1% for the week, and 3% over last year.

Overall, we’re continuing to see mildly good news overall, in terms of production and housing, but retail spending and employment remains relatively weak, and inflation threats still hover over what remains a somewhat recessionary economy.

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Dale Franks
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Economic Statistics for 13 Jan 12

Today’s economic statistical releases:

The US trade deficit widened sharply to $-47.8 billion on both rising oil imports and falling exports.

December export prices fell -0.5%, but were up 3.6% on a year-over-year basis. Import prices also fell -0.1% for the month, but were up 8.5% for the year.

Consumer sentiment continues to rise to 74.0 at mid-month January from 69.9 at the end of December.

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Dale Franks
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