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FHFA Home Price Index +5.6% year/year.

Initial Jobless Claims (week ended 4/16/2016) – New Claims seasonally adjusted   247,000. Previous was 253,000 – New Claims unadjusted totaled 241,862 a decrease of 28,557 from previous – 4-week Moving seasonally adjusted  260,500. Previous was 265,000 This datum is close to being the only one supporting the notion that the economy is healthy.  Even the […]

 

Existing Home Sales Recover Some of February Loss.

MBA Mortgage Applications (week ended 4/15/2016) – Purchase Index Week/Week -1.0%. Previous weeks were +8.0%, -2.0%, +2.0%, -1.0%, +0.3%, +4.0%, -1.0%, +2.0%, -4.0%, +0.2%, -7.0%, +5.0%, and -2.0%. – Refinance Index Week/Week +3.0%. Previous weeks were +11.0%, +7.0%, -3.0%, -5.0%, -6.0%, -2.0%, -7.0%, -8.0%, +16.0%, +16.0%, +0.3%, +11.0%, and +19.0%. – Composite Index Week/Week +1.3% […]

 

More Weak Fundamentals.

Housing Starts (March 2016) – Starts seasonally adjusted, annualized  1,089,000. Previous was 1,194,000 – Permits seasonally adjusted, annualized 1,086,000. Previous was 1,177,000 Single-family starts were 727,000 (annualized).  Permits were also down. This data is prepared by the Census Bureau which regards 1,500,000 starts as the level necessary to keep pace with population growth.  SFR Starts […]

 

Homebuilders See Modest Growth.

Housing Market Index (April 2016) – Housing Market Index 58. Previous was 58. This is a survey index.  The survey is conducted by The National Association of Home Builders.  This reading is good but not great – modest growth

 

Industrial Production/ Manufacturing down.

Empire State Manufacturing Survey (April 2016) –  General Business Conditions Index 9.56. Previous was +0.62. This is the result of a survey of manufacturers in New York State.  While manufacturing is no longer very important to the economy of New Your folks look at the because it is the first regional manufacturing release each month. […]

 

Jobless Claims at Lowest since 1973 but GDP Going Nowhere.

Consumer Price Index (March 2016) – CPI overall month/month  +0.1%. Previous was -0.2% – CPI overall year/year   +0.9%. Previous was +1.0% – CPI core (less food & energy) month/month +0.1%. Previous was +0.3% – CPI core (less food & energy) year/year  +2.2%. Previous was +2.3%. The Federal Reserve seems dedicated to pushing CPI higher and, […]

 

Lower Wholesale Prices Indicative of Slowing World Economic Growth?

MBA Mortgage Applications (week ended 4/8/2016) – Purchase Index Week/Week +8.0%. Previous weeks were -2.0%, +2.0%, -1.0%, +0.3%, +4.0%, -1.0%, +2.0%, -4.0%, +0.2%, -7.0%, +5.0%, -2.0%, and +18.0%. – Refinance Index Week/Week +11.0%. Previous weeks were +7.0%, -3.0%, -5.0%, -6.0%, -2.0%, -7.0%, -8.0%, +16.0%, +16.0%, +0.3%, +11.0%, +19.0%, and +24.0%. – Composite Index Week/Week +10.0%. […]

 

Small Business Optimism Remains Weak.

NFIB Small Business Optimism Index (March 2016) – Level  92.6. Previous was 92.9. This is weak but mixed.  Plans for capital were strong but business is having difficulty finding skilled people to fill job openings.   Import and Export Prices  (March 2016) – Import Prices month/month  +0.2%. Previous was -0.4% – Export Prices month/month  +0.0%. […]

 

Anotrher Sign of Weak 1stQ2016 GDP.

Wholesale Trade (February 2016) – Inventories month/month -0.5%. Previous was -0.2%. This is a component of GDP and another sign that 1stQ2016 GDP will likely be below 1% annualized.

 

Jobless Claims Remain low but GDP Growth is Slow.

Initial Jobless Claims (week ended 4/2/2016)   – New Claims seasonally adjusted  267,000. Previous was 276,000 – New Claims unadjusted, totaled 246,023  an increase of 10,307 from previous – 4-week Moving Average  266,750. Previous was 263,250 The Jobs market continues to be a relatively poor indicator of economic growth.  We have had an extended period […]

 
 
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