Archive for the ‘Fundamentals’ Category

Personal Income/Consumer Spending up.

Personal Income and Outlays  (August 2014) – Personal Income month/month +0.3%. Previous was +0.2% – Consumer Spending month/month +0.5%. Previous was +0.0% – Personal Income year/year +4.3%. Previous was +4.4% – Consumer Spending year/year +4.1%. Previous was +3.8%. Inflation: – PCE Price Index month/month +0.0%. Previous was +0.1% – Core PCE price index month/month +0.1%. […]

GDP +4.6% in 2ndQ after down 1st Quarter

GDP (2ndQ2014) – Real GDP quarter/quarter (seasonally adjusted, annualized) +4.6%.  This is the “final” revision to 2nd Q. – GDP price index quarter/quarter (seasonally adjusted, annualized) +2.1%. Previous was +2.1% With the 1stQ2014 having been -2.1% the data for the 2nd quarter shows lackluster growth for the first 6 months of the year.   Corporate […]

Initial Jobless Claims Remain low.

Durable Goods Orders (August 2014) – New Orders month/month -18.2%. Previous was +22.5% – New Orders year/year  +8.9%. Previous was +33.7% – Ex-transportation month/month +0.7%. Previous was -0.5% – Ex-transportation year/year  +7.3%. Previous was +6.8%. Overall reflect that the very large dollar value of aircraft orders in July fell off, as expected, in August.  The […]

More Evidence of Flatter Home Prices.

ICSC-Goldman Store Sales (week ended 9/20/2014) – Store Sales week/week +0.1 %. Previous was -2.6% – Store Sales year/year +4.1%. Previous was +3.0%   Redbook (week ended 9/20/2014) – Store Sales year/year +3.7%. Previous was +3.6%.   FHFA House Price Index (July 2014) – month/month +0.1%. Previous was +0.3% – year/year +4.4%. Previous was +5.1% […]

Existing Home Sales down.

Existing Home Sales  (August 2014) – Existing Home Sales (seasonally adjusted annualized rate) 5,050,000. Previous was 5,140,000 Month/month this is -1.8%. Year/year this is -5.3%. The explanation is the same as usual:  fewer jobs paying enough to own a home, higher home prices, and tougher government mandated mortgage qualifying.   Chicago Federal Reserve National Activity […]

No Inflation.

Consumer Price Index (August 2014) – CPI month/month (overall) -0.2%. Previous was +0.1% – CPI year/year (overall)  +1.7%. Previous was +2.0% – CPI month/month core (less food & energy)  +0.0%. Previous was +0.1% – CPI year/year core (less food & energy) +1.7%. Previous was +1.9%. This absence of any effect on inflation generated from expanded […]

Wholesale Inflation Contained.

PPI-FD  (August 2014) – PPI-FD (overall) month/month  +0.0%. Previous was +0.1% – PPI-FD year/year +1.8%. Previous was +1.7% – PPI-FD core (less food & energy) month/month  +0.1%. Previous was +0.2% – PPI-FD core (less food & energy) year/year  1.6 %   1.6 % – PPI-FD less food, energy & trade services month/month 0.2 %   0.2 % […]

Industrial Production could Reflect Retooloing.

Industrial Production (August 2014) – Production month/month  -0.1%. Previous was revised down to +0.2% – Capacity Utilization Rate  78.8%. Previous was 79.3% – Manufacturing month/month  -0.4%. Previous was revised down to +0.7%. At this time of the year these numbers are less meaningful because they may only reflect the schedules of the retooling of automobile […]

Job Openings Plateau but Still Strong.

ICSC-Goldman Store Sales (week ended 9/6/2014) – Store Sales week/week +0.7%. Previous was +0.0% – Store Sales year/year +4.0%. Previous was +4.8%   Redbook (week ended 9/6/2014) – Store Sales year/year +4.9%. Previous was +4.9%.   JOLTS  (July 2014) JOLTS is an acronym for Job Openings and Labor Turnover Survey – Job Openings 4,673,000. Previous […]

Another Disappointing Jobs Report.

BLS Employment Situation Report (August 2014) – Non-farm Jobs +142,000. Previous was 212,000 – Unemployment Rate 6.2%. Previous was 6.1% – Labor Participation Rate 62.8%.  Previous was 62.9%.  64,000 people left the Labor Force – Part-time Jobs were -234,000 – Average Earnings were $24.53 up from $24.47  

 
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