Chicago PMI
Today's fundamentals: pending home sales, plus lots more: mortgage applications, Chicago PMI, personal income/spending, ADP jobs report
Personal Income and Outlays (October 2012) Personal Income – Month/Month +0.0% Consumer Spending – Month/Month -0.2% PCE Price Index — Month/Month 0.1% Core PCE price index – Month/Month 0.1% Personal Income – Year/Year 3.1% Consumer Spending – Year/Year 3.1% PCE Price Index — Year/Year 1.7% Core PCE price index – Year/Year 1.6% Some of the
Mortgage Applications data for last week is not available. Data for this week will have little meaning because of the storm. Employment Cost Index (3rdQ2012) ECI – Quarter/Quarter change 0.4%. Previous was +0.5% ECI – Year/Year change +2.0%. Previous was +1.7%. Looking at the components of Employment Cost: Year/Year wages and salaries are up 1.7%
Personal Income and Outlays (August 2012) Personal Income – Month/Month +0.1% Consumer Spending – Month/Month +0.5% PCE Price Index — Month/Month +0.4% Core PCE price index – Month/Month 0.1% Nominal Income was up slightly. Real (inflation adjusted) income was down. Higher gas prices made real income lower. Factoring out food and gas real income was
Personal Income and Outlays (August 2012) Personal Income – Month/Month +0.1% Consumer Spending – Month/Month +0.5% PCE Price Index — Month/Month +0.4% Core PCE price index – Month/Month 0.1% Nominal Income was up slightly. Real (inflation adjusted) income was down. Higher gas prices made real income lower. Factoring out food and gas real income was
Rates began the week even to slightly better after a mixed slate of Fundamentals, highlighted below.
Roundup today's data/charts: consumer spending, income, inflation, sentiment. Plus manufacturing.
Roundup today's data/charts: consumer spending, income, inflation, sentiment. Plus manufacturing.
Stat roundup: home prices, retail sales, Chicago PMI, Employment Costs, Consumer Confidence
Roundup today's data: jobless claims, pending home sales, manufacturing (Chicago PMI)
Mortgage Applications (week ending 8/26) -Purchase Index Week/Week: +0.9% -Refinance Index Week/Week: -12.2% -Composite Index Week/Week: -9.6% -The increase in the purchase index is good news for the huisng sector which is in serious need of good news. The refi index is rate sensitive and next week will probably show an increase for this week.
GDP -2Q2011 GDP at +1.3% vs. 0.4% for 1Q2010 (revised down from 1.9%) -This 1st of three readings worse than low expectations -Second revision August 26 –Full report here. -In light of fiscal and monetary policy, this report is dismal -The heart of this report is this sentence: “Real personal consumption expenditures increased 0.1 percent
GDP -2Q2011 GDP at +1.3% vs. 0.4% for 1Q2010 (revised down from 1.9%) -This 1st of three readings worse than low expectations -Second revision August 26 –Full report here. -In light of fiscal and monetary policy, this report is dismal -The heart of this report is this sentence: “Real personal consumption expenditures increased 0.1 percent
The highlight this week will be this Friday’s Advance 2Q2011 GDP, the first of three readings. GDP = C+I+G+(X-M) where C= Consumer Spending. I = Investments, G=Government Spending, X=eXports and M=iMports. The advance GDP has only 2 of 3 months data on G and I and can see substantial revision. The range of estimates for
Initial Jobless Claims – 428,000 for week ended June 25, down 1,000 from previous week – 4-week moving average 426,750, up 500 from previous week -Better than last week but worse than consensus. -Despite Keynesian spending and extremely accommodative monetary policy, the jobs market and the economy are still in bad shape. If we are
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