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Mortgage Applications down.

MBA Mortgage Applications (week ended 6/12/2015) – Purchase Index Week/Week -4.0%. Previous weeks were +10.0%, -3.0%, +1.0%, -4.0%, -0.2%, +1.0%, +0.0%, +5.0%, -3.0%, +7.0%, +6.0%, +5.0%, and -2.0%. – Refinance Index Week/Week -7.0%. Previous weeks were +7.0%, -12.0%, -4.0%, +0.3%, -6.0%, -8.0%, -4.0%, +1.0%, -2.0%, -3.0%, +4.0%., and +12.0%. – Composite Index Week/Week -5.5%. Previous […]

 

Housing Starts Continue Uncertain Path.

Housing Starts (May 2015) – Starts seasonally adjusted, annualized  1,036,000. Previous revised to 1,165,000 – Permits seasonally adjusted, annualized  1,275,000. Previous revised to 1,140,000. Housing Starts should be 1,500,000 to accommodate expanding population and homes scrapped or destroyed. Starts had solid gains in March and April and we will need to see if May was […]

 

Manufacturing Slows. Home Builders Optimistic.

Industrial Production (May 2014) – Production month/month  -0.2%. Previous was -0.5% – Capacity Utilization Rate 78.1% Previous was 78.3% – Manufacturing month/month -0.2% Previous was +0.1% Slowing manufacturing is not good for the economy.  On a longer time scale I do not believe that we have faced the likelihood that, in the future, as manufacturing […]

 

Core Wholesale Inflation +0.1%.

PPI-FD (May 2015)   – PPI-FD month/month  +0.5%. Previous was -0.4% – PPI-FD year/year   -1.1%. Previous was -1.3% – PPI-FD less food & energy month/month +0.1%. Previous was -0.2% – PPI-FD less food & energy year/year    +0.6%. Previous was + 0.8% – PPI-FD less food, energy & trade services month/month    -0.1%. Previous was +0.1% – […]

 

Retail Sales up.

Initial Jobless Claims (week ended 6/6/2015) – Initial Claims seasonally adjusted  279,000. Previous was 277,000 – Initial Claims unadjusted, totaled 274,880 an increase of 44,210 from previous – 4-week Moving Average    278,750. Previous was 275,000. Initial Jobless Claims remain low indicating a healthy jobs market.   Retail Sales (May 2015) – Retail Sales month/month +1.2%. […]

 

Mortgage Applications Recover from Holiday.

MBA Mortgage Applications (week ended 6/5/2015) – Purchase Index Week/Week +10.0%. Previous weeks were  -3.0%, +1.0%, -4.0%, -0.2%, +1.0%, +0.0%, +5.0%, -3.0%, +7.0%, +6.0%, +5.0%, -2.0%, and +2.0%. – Refinance Index Week/Week +7.0%. Previous weeks were -12.0%, -4.0%, +0.3%, -6.0%, -8.0%, -4.0%, +1.0%, -2.0%, -3.0%, +4.0%., +12.0%, and -5.0%. – Composite Index Week/Week +8.4%. Previous […]

 

Fundamentals Mixed.

Redbook Chain Store Sales (week ended 6/6/2015) – Store Sales year/year +1.2%. Previous was +1.7% This is sluggish growth.   NFIB Small Business Optimism Index  (May 2015) – level  98.3. Previous was 96.9. Optimism of Small Business owners is important because small businesses grow into large businesses and small business are key to adding jobs. […]

 

BLS: Better but not Great.

Inside the BLS Employment Situation Report 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. […]

 

BLS: Better but not Great.

BLS Employment Situation Report (May 2015) – Nonfarm Payrolls month/month  +280,000  (nominal).  With the changes to the previous 2 months the gain is 312,000 – Unemployment Rate 5.5%. Previous was 5.4% – Private Payrolls month/month   262,000. Previous was 213,000 – Participation Rate  62.9%. Previous was 62.8% – Average Hourly Earnings month/month  +0.3%. Previous was +0.1% […]

 

Don’t Blame Workers for Lower Productivity

Initial Jobless Claims  (week ended 5/30/2015) – New Claims seasonally adjusted 276,000. Previous was 284,000 – New Claims unadjusted, totaled 230,055 a decrease of 23,399 from previous – 4-week Moving Average seasonally adjusted  274,750. Previous was 272,000   Challenger Job-Cut Report (May 2015) – Announced Layoffs  41,034. Previous was 61,582   Productivity and Costs (1stQ2015) […]

 
 
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