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Still Issues but Better BLS.

BLS Employment Situation Report (September 2014) – Nonfarm Jobs month/month +248,000. Previous revised up from 142,000 to 180,000 – Unemployment Rate  5.9%. Previous was 6.1%. – Labor Participation Rate 62.7. Previous was 62.8 – Labor Force -97,000 – Average Hourly Wage was $24.53.  Down for 2nd consecutive month – Average Workweek 34.6 hours up from […]

 

Prelude to BLS.

Challenger Job-Cut Report (September 2014) – Announced Layoffs 30,477. Previous was 40,010.   Gallup US Payroll to Population (September 2014) – Level 44.8%.  Previous was 44.9%.   Jobless Claims (week ended 9/27/2014) – Initial Claims (Seasonally Adjusted) 287,000. Previous was 293,000 – Initial Claims (not Seasonally Adjusted) totaled 227,110, a decrease of 12,920 from the […]

 

Fundamentals Slightly Weaker.

MBA Purchase Applications (week ended 9/26/2014) – Purchase Index Week/Week +0.0%. Previous weeks were -0.3%, +5.0%, -3.0%, -2.0%, +3.0%, -0.4%, -1.0%, -1.0%. +0.2%, +0.3%, -8.0%, and +4.0%. – Refinance Index Week/Week -0.3%. Previous weeks were -7.0%, +10.0%, -11.0%, +1.0%, +3.0%, +3.0%, -4.0%, +4.0%, -4.0%, +4.0%, and -0.1%. – Composite Index Week/Week -0.2%. Previous weeks were […]

 

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 […]

 

New Home Sales up in West and South.

MBA Mortgage Applications (week ended 9/19/2014) – Purchase Index Week/Week -0.3%. Previous weeks were +5.0%, -3.0%, -2.0%, +3.0%, -0.4%, -1.0%, -1.0%. +0.2%, +0.3%, -8.0%, +4.0%, and -1.0%. – Refinance Index Week/Week -7.0%. Previous weeks were +10.0%, -11.0%, +1.0%, +3.0%, +3.0%, -4.0%, +4.0%, -4.0%, +4.0%, -0.1%, and +0.4%. – Composite Index Week/Week -4.1%. Previous weeks were […]

 

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 […]

 

LEI Flatter

Leading Economic Indicators (August 2014) – LEI month/month +0.2%.  Previous was revised from +0.9% to +1.1%. This is a rehash of existing data intended to forecast economic growth about 3 months from now.

 
 
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