A Mixed bag of Fundamentals.

Consumer Price Index (June 2014)

- CPI month/month +0.3%. Previous was +0.4%

- CPI year/year +2.1%. Previous was +2.1%

- CPI core (less food & energy) month/month +0.1%. Previous was +0.3%

- CPI core (less food & energy) year/year +1.9%. Previous was 1.9%.

This shows contained inflation. It remains to be seem what the net effect of QE is on inflation.

ICSC-Goldman Chain Store Sales (week ended 7/19/2014)

- Store Sales week/week -0.4%. Previous was +0.1%

- Store Sales year/year +2.8%. Previous was +4.5%

Redbook Chain Store Sales (week ended 7/19/2014)

- Store Sales year/year +3.7%. Previous was +4.1%

FHFA House Price Index (May 2014)

- Prices month/month +0.4%. Previous was +0.1%

- Prices year/year +5.5%. Previous was +6.1%.

I have always been out of step with people in the housing and home loan business because I see home prices increasing much above 2% as a negative. Housing expense eats too much of people's income leaving them with less disposable income and hurting the rest of the economy.

 

Existing Home Sales (June 2014)

- Existing Home Sales (seasonally adjusted, annualized)   5,040,000. Previous was 4,890,000

- Existing Home Sales month/month  +2.6%. Previous was +4.9%
- Existing Home Sales year/year -2.3%. Previous was -5.0%.

This is another of those "better than last month. Worse than last year" fundamentals.

Richmond Federal Reserve Manufacturing Index (July 2014)

- index level 7. Previous was 3.

This is a survey index of manufacturers in the district covered by the Richmond Federal Reserve.
 

Chicago Fed Manufacturing: Growing but Slower.

Chicago Federal Reserve National Activity Index  (June 2014) – Index level 0.12.  Previous was 0.21 – 3 Month Moving Average 0.13. Previous was 0.19. The economy is still growth but at a slower pace.  As repeated here weekly too little attention had been paid lately as to just how poor economic growth in the U.S. […]

 

Is the Supply Side Failing?

Is the Supply Side Failing? A question we should be seeking the answer to is “Why has economic growth been so puny lately?” We had the Great Recession which was caused by the government’s insistence that home loan lenders lower their lending standards so that more folks could afford to own a home. Banks and […]

 

Consumer Sentiment, Leading Indicators down.

Leading Indicators (June 2014) – Leading Indicators month/month +0.3%.  Previous was +0.7%. This is a rehash of 10 other pieces of data and has, for some time, merely reflected the Federal Reserve policy of increasing money supply and keeping rates low. University of Michigan Consumer Sentiment (July 2014) – Consumer Sentiment 81.3.  Previous was 82.5. […]

 

Housing Starts down. Jobless Claims Remain Low.

Housing Starts  (June 2014) – Starts (seasonally adjusted, annualized) 893,000. Previous revised down to 985,000 – Permits (seasonally adjusted, annualized) 963,000. Previous revised up to 1,038,000. This is disappointing data.   Jobless Claims  (week ended 7/12/2014) – Initial Claims (seasonally adjusted) 302,000. Previous was 305,000 – Initial Claims (unadjusted)  totaled 369,591an increase of 47,079 from […]

 

PPI up, Mortgage Applications down.

MBA Mortgage Applications (week ended 7/11/2014)   – Purchase Index Week/Week -8.0%. Previous weeks were +4.0%, -1.0%, -1.0%. -5.2%, +9.0%, -4.0%, -1.0%, -3.0%, -1.0%, +9.0%, -4.0%, and -3.0%. – Refinance Index Week/Week -0.1%. Previous weeks were +0.4%, +0.1%, -1.0%, -13.0%, +11.0%, -3.0%, -1.0%, +4.0%, +7.0%, +2.0%, and -7.0%. – Composite Index Week/Week -3.6%. Previous weeks […]

 

Flat Data.

ICSC-Goldman Chain Store Sales (week ended 7/12/2014) – Store Sales week/week +0.1%. Previous was +1.7% – Store Sales year/year +4.5%. Previous was +3.3% Redbook Chain Store Sales (week ended 7/12/2014) – Store Sales year/year +4.1%. Previous was +6.0%. Retail Sales (June 2014) – Retail Sales month/month +0.2%. Previous revised to +0.5% – Retail Sales less […]

 

Initial Jobless down but…

Initial Jobless Claims (week ended 7/5/2014) – Initial Claims (seasonally adjusted) 304,000. Previous was 315,000 – Initial Claims (unadjusted) totaled 322,248 an increase of 16,542 (or +5.4 percent) from the previous week – 4-week Moving Average 311,500 Initial Jobless Claims have been low but if we look inside last week’s BLS Employment Situation Report 288,000 […]

 

Mortgage Applications up 1st Time in 4 Weeks.

MBA Mortgage Applications (week ended 7/4/2014) – Purchase Index Week/Week +4.0%. Previous weeks were -1.0%, -1.0%. -5.2%, +9.0%, -4.0%, -1.0%, -3.0%, -1.0%, +9.0%, -4.0%, -3.0%, and +1.0%. – Refinance Index Week/Week +0.4%. Previous weeks were +0.1%, -1.0%, -13.0%, +11.0%, -3.0%, -1.0%, +4.0%, +7.0%, +2.0%, -7.0%, and -4.0%. – Composite Index Week/Week +1.9%. Previous weeks were […]

 

June BLS: 827,000 fewer people working full-time

This is my monthly look inside the BLS Employment Situation Report. There are two BLS Surveys: the Establishment and the Household. Establishment surveys about 141,000 businesses and government agencies, representing approximately 486,000 individual worksites. It is taken each month during the week which includes the 12th of the month. Household is a survey of 60,000 […]

 
 
Processing your request...

 

 

Professional Basis Login

 

|

Retrieve Your Login Information

Please enter the email address associated with your Professional Basis account. Your login information will be sent at that address.

|