October 2012

 

GDP (3rdQ2012) – Inflation Adjusted (real) GDP quarter/quarter was +2.0%. Note that this was subsequent to adjusting the previous quarter’s growth down to 1.3%. This is weak considering how far we are into a recovery. Later today I will be publishing here a piece by Rick Davis of Consumer Metric Institute which points out that BEA

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New Home Sales (September 2012) – New Home Sales  (seasonally adjusted annualized rate) – 389,000.  Previous was 368,000 – The median price of a new home sold was down 3.2% which breaks a string of increases. A slow, steady increase in New Home Sales is a healthy sign but… MBA Mortgage Applications (week ended 10/19/2012)

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ICSC-Goldman Store Sales (week ended 10/20/2012) Store Sales – Week/Week -0.7 % Store Sales – Year/Year  2.9%   Redbook (week ended 10/20/2012) Store Sales Year/Year 1.3% The week/week dip in ICSC may be largely to do with gas prices.  The Year/Year numbers are still indicative of modest growth.  Richmond Fed Manufacturing Index (October 2012) Index

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