Existing Home Sales up.

Jobless Claims (week ended 8/16/2014)

- New Claims (seasonally adjusted)  298,000. Previous was 312,000

- New Claims (not seasonally adjusted) were 248,759 a decrease of 20,709 from the previous week

- 4-week Moving Average (seasonally adjusted) 300,750. Previous was 300,750.

 

PMI Manufacturing Index Flash (August 2014)

- Level 58.0. Previous was 56.3.

This is derived from surveys of manufacturers.

Philadelphia Federal Reserve Survey  (August 2014)

- General Business Conditions Index 28.0. Previous was 23.9

Existing Home Sales (July 2014)

- Existing Home Sales (seasonally adjusted, annualized) 5,115,000. Previous was 5,030,000.

Data is from the National Association or Realtors.

 

Leading Economic Indicators (July 2014)

- Leading Indicators month/month +0.9%. Previous was +0.6%.
 

Purchase Market Remains Soft.

MBA Mortgage Applications (week ended 8/15/2014)   – Purchase Index Week/Week -0.4%. Previous weeks were -1.0%, -1.0%. +0.2%, +0.3%, -8.0%, +4.0%, -1.0%, -1.0%. -5.2%, +9.0%, -4.0%, and -1.0%. – Refinance Index Week/Week +3.0%. Previous weeks were -4.0%, +4.0%, -4.0%, +4.0%, -0.1%, +0.4%, +0.1%, -1.0%, -13.0%, +11.0%, and -3.0%. – Composite Index Week/Week +1.4%. Previous weeks […]

 

Inflation (and just about everything else) Contained

Consumer Price Index (July 2014) – CPI overall month/month +0.1%. Previous was +0.3% – CPI overall year/year +2.0%. Previous was +2.1% – CPI core (less food & energy)  month/month +0.1%. Previous was +0.1% – CPI core (less food & energy) year/year +1.9%. Previous was +1.9%. Inflation remains contained as the Fed ponders when to start […]

 

Homebuilder Confidence Increases.

NAHB Housing Market Index (August 2014) – Housing Market Index  55. Previous was 53.0. In order to be in the business of Home Building one needs  large amount of confidence and positive mental attitude and these guys still have it.

 

Inflation Contained.

PPI-FD (July 2014) – PPI-FD month/month +0.1%. Previous was +0.4% – PPI-FD year/year   +1.7%. Previous was +1.9% – PPI-FD core (less food & energy) month/month +0.2%. Previous was +0.2% – PPI-FD core (less food & energy) year/year  +1.6%. Previous was +1.7% – PPI-FD less food, energy & trade services month/month +0.2%. Previous was  +0.2% – […]

 

Jobless Claims up but still low.

Initial Jobless Claims (week ended 8/8/2014) – Initial Claims 311,000. Previous was 290,000 – 4-week Moving Average 297,750. Previous was 293.750   Import & Export Prices  (July 2014) – Export Prices month/month +0.0%. Previous was -0.4% – Export Prices year/year +0.4%. Previous was +0.2% – Import Prices month/month -0.2%. Previous was -0.2% – Import Prices […]

 

Weak Jobs/Regulation Hurting Housing

MBA Mortgage Applications (week ended 8/8/2014)   – Purchase Index Week/Week -1.0%. Previous weeks were -1.0%. +0.2%, +0.3%, -8.0%, +4.0%, -1.0%, -1.0%. -5.2%, +9.0%, -4.0%, -1.0%, and -3.0%. – Refinance Index Week/Week -4.0% . Previous weeks were +4.0%, -4.0%, +4.0%, -0.1%, +0.4%, +0.1%, -1.0%, -13.0%, +11.0%, -3.0%, and -1.0%. – Composite Index Week/Week -2.7%. Previous […]

 

Job Openings up.

NFIB Small Business Optimism Index  (July 2014) – Optimism level 95.7.  Previous was 95.8. This is a survey index of small businesses.   ICSC-Goldman Store Sales (week ended 8/9/2014) – Store Sales week/week -1.4%. Previous was +0.2% – Store Sales year/year +3.2%. Previous was +4.5%   Redbook Store Sales (week ended 8/9/2014) – Store Sales […]

 

1stQ2014 Unit Labor Cost Revised Sharply upwards.

Worker Productivity & Costs  (2ndQ2014) – Nonfarm productivity quarter/quarter (seasonally adjusted, annualized) +2.5%. Previous was -4.5%. – Unit labor costs quarter/quarter (seasonally adjusted, annualized) +0.6%. Previous was +11.8%. What is off-scale here is the very large increase in 1stQ2014 Unit Labor Cost.  This was likely the consequence of lower 1stQ2014 GDP and possibly increased health […]

 

Initial Jobless Claims at 8-year Low.

Initial Jobless Claims (week ended 8/2/2014) – New Claims (seasonally adjusted) 289,000. Previous was 303,000 – New Claims unadjusted were 247,133 a decrease of 10,492 from the previous week – 4-week Moving Average  293,500.  Previous was 297,500. New Jobless Claims are at a 8-year low and encouraging.

 
 
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