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Economic statistics

Economic Statistics for 2 Feb 12

Today’s economic statistical releases:

Chain store sales are coming in mixed today, with no identifiable spending or consumer trends. It’s looking like there’ll be little change to the upcoming retail sales report this month, which was disappointingly unchanged in December.

The Challenger Job Cut Report indicates that layoff announcements rose to 53,486 in January from 41,785 in December. That’s a big monthly jump, and raises warning signs about employment.

The Bloomberg Consumer Comfort Index rose to -44.8 from last month’s -46.4.

Initial claims for unemployment fell 12,000 to a lower-than-expected 367,000. the 4-week moving average posted a a 2,000 decline to 375,750.

Productivity growth in the 4th quarter slowed to a lower than expected 0.7% from 2.3% in the previous quarter. Unit labor costs rose 1.2%, compared to the previous quarter’s drop of -2.5%.

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Dale Franks
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Economic Statistics for 1 Feb 12 (Update)

Today’s economic statistical releases:

The Mortgage Bankers Association reports that home purchase applications fell -1.7% and re-fis fell -3.6%, bringing the composite down -2.9%.

The ADP Employment Report largely met expectations, showing an increase of 170,000 new jobs for January.

UPDATE: Motor vehicle sales were released this afternoon. Vehicle sales jumped to a 14.2 million annual rate in January for a 5% gain over last month. For the first time in 9 months car sales outpaced truck sales, and were up 13% to a 7.4 million annual rate. Truck sales fell -4% to an annual 6.8 million annual rate.

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Dale Franks
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Economic Statistics for 31 Jan 12

Today’s economic statistical releases:

The Employment Cost Index rose 0.4% last month, 2% from last year, as wages are showing upward pressure at odds with the slow economy.

The Chicago Purchasing Manager’s index fell from 62.5 to 60.2 as Chicago area business conditions cooled slightly.

S&P Case-Shiller report their home price index shows continued erosion in prices, down -0.7% for the month on a seasonally adjusted basis. Remove the seasonal adjustments, and the picture is even worse, with the 20-city index down -1.3% for the month and -3.7% from last year.

The Consumer Confidence Index slid from 64.5 last month to 61.1 this month. The Conference Board says the estimate of current conditions is weak.

The State Street Investor Confidence Index fell to 92.4 from last month’s 99.3.

In weekly retail sales, ICSC-Goldman reports a lackluster 0.1% increase for the week, up 3.9% from last year. Redbook is also relatively muted in the January sales increase, coming in at 2% above last year.

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Dale Franks
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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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