Archive for November, 2014

Key Economic Indicators – December 1, 2014

Saturday, November 29th, 2014
  • Real GDP increased at an annual rate of 3.9% in the third quarter, according to the “second” estimate by the Bureau of Economic Analysis, after a 4.6% in the previous quarter. In the advance estimate, released about a month ago, the increase in real GDP was 3.5%.
  • The price index for gross domestic purchases increased 1.4% in the third quarter, compared to an increase of 2.0% in the previous quarter.
  • Corporate profits from current production increased $43.8 billion in the third quarter, after an increase of $164.1 billion in the previous quarter.
  • Personal income and personal consumption expenditures both increased 0.2% in October. The price index for personal consumption expenditures increased 0.1% in October, while the core index increased 0.2%. The price index rose 1.4% from October a year ago, while the core index rose 1.6%.
  • New orders for manufactured durable goods increased 0.4% in October, while Shipments increased 0.1%.
  • October new home sales were up 0.7% from the previous month, and were up 1.8% from October 2013 figure, according to the U.S. Census Bureau. The median sales price of new houses sold was $305.0 thousand, 15.4% above October 2013.
  • U.S. House prices rose less than 0.1% on a seasonally adjusted basis from August to September, according to the Federal Housing Finance Agency’s (FHFA) monthly House Price Index. For the 12 months ending in September, house prices rose 4.3%. The index is 5.8% below its April 2007 peak and is roughly the same as the August 2005 index level..
  • The S & P/Case-Shiller National U.S. Home Price Index in September was down 0.1% from the previous month, but up 4.8% from September 2013. As of September 2014, home prices were back to their levels posted in the spring of 2005.
  • The Pending Home Sales Index, a leading indicator for the housing sector, decreased 1.1% to a reading of 104.1 in October. The index was up 2.2% from October 2013.
  • The long term mortgage rate averaged 3.97% for the week ending November 26, down from last week when it averaged 3.99%.
  • Mortgage applications decreased 4.3% from a week earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending November 21.
  • The advance figure for initial claims for unemployment insurance increased 21 thousand to 313 thousand in the week ending November 22.
  • The Conference Board’s consumer confidence index, which had rebounded in October, declined in November.
  • The Thomson Reuters/University of Michigan Index of Consumer Sentiment rose in November.

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Key Economic Indicators – November 24, 2014

Saturday, November 22nd, 2014
  • Total Industrial production decreased 0.1% in October, after increasing 0.8% in the previous month. Total industrial production in October was 4.0% above its level a year earlier. The rate of capacity utilization decreased 0.3 percentage point to 78.9%, 1.2 percentage points below its 1972-2013 average.
  • Housing starts in October were down 2.8% from the previous month, but were up 7.8% from October 2013. Building permits in October were up 4.8% from September, and were up 1.2% from a year ago.
  • October existing home sales increased 1.5% to an annualized rate of 5,260 thousand units, according to the National Association of Realtors. The October figure was 2.5% above the October 2013 figure. The median sales price of existing houses sold was $208.3 thousand, 5.5% above October 2013.
  • The housing market index of National Association of Home Builders (NAHB) and Wells Fargo rose 4 points to 58 in November. The index was 54 in November 2013 and 56 in January 2014.
  • The results of Freddie Mac’s Primary Mortgage Market Survey of November 20th showed average fixed mortgage rates slightly down from the previous week. 30-year fixed-rate mortgage averaged 3.99%, down from last week when it averaged 4.01%.
  • Mortgage applications increased 4.9% from a week earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending November 14th.
  • The producer price index for final demand increased 0.2% in October, while the core index decreased 0.1%. The producer price index for final demand increased 1.5% from October 2013 to October 2014.
  • The consumer price index was unchanged in October, while the core index increased 0.2%. The consumer price index increased 1.7% for the 12-month period ending in October, while the core index rose 1.8%.
  • The advance figure for initial claims for unemployment insurance decreased 2 thousand to 291 thousand in the week ending November 15. The 4-week moving average was 287.5 thousand, an increase of 1.75 thousand from the previous week’s average.
  • Real average hourly earnings for all employees rose 0.1% from September to October.
  • Regional and state unemployment rates were generally little changed in October, according to the U.S. Bureau of Labor Statistics. Thirty-four states and the District of Columbia had unemployment rate decreases, 5 states had increases, and 11 states had no change. In October 2014, nonfarm payroll employment increased in 38 states and decreased in 12 states and the District of Columbia.
  • The Conference Board’s leading economic index increased 0.9% in October, while the coincident index increased 0.1%.
  • The November 2014 Empire State Manufacturing Survey indicated that business activity continued to expand for New York manufacturers.
  • The Philadelphia FED business outlook survey indicated that regional manufacturing activity increased notably in November.

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Key Economic Indicators – November 17, 2014

Friday, November 14th, 2014
  • Advance estimates of retail and food services sales for October were up 0.3% from September, and were up 4.1% from October 2013, according to the U.S. Census Bureau.
  • Total manufacturing and trade sales for September were virtually unchanged from August, while inventories were up 0.3%, , according to the U.S. Census Bureau.
  • Sales of merchant wholesalers for September were up 0.2%, while inventories were up 0.3%, , according to the U.S. Census Bureau.
  • The federal government budget ran a deficit of $121.7 billion in October, after a surplus of $105.8 billion in the previous month, according to the Bureau of Fiscal Service, Department of the Treasury.
  • The advance figure for initial claims for unemployment insurance increased by 12 thousand to 290 thousand in the week ending November 8,  according to the Labor Department.  The 4-week moving average was 285 thousand, an increase of 6 thousand from the previous week’s average.
  • The import price index decreased 1.3% in October, while the export price index decreased 1.0%, according to the Labor Department. The import price index decreased 1.8% from October 2013, while the price index for exports decreased 0.8%.
  • The results of Freddie Mac’s Primary Mortgage Market Survey showed fixed mortgage rates little changed from the previous week. 30-year fixed-rate mortgage averaged 4.01% for the week ending November 13th, down from last week when it averaged 4.02%.
  • Mortgage applications decreased 0.9% from a week earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending November 7th.
  • The Thomson Reuters/University of Michigan Index of Consumer Sentiment rose to 89.4 for early November, up from 86.9 in October.

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Key Economic Indicators – November 10, 2014

Friday, November 7th, 2014
  • Total non-farm payroll employment rose 214 thousand in October, following an increase of 256 thousand in the previous month, according to the U.S. Bureau of Labor Statistics.
  • The unemployment rate edged down to 5.8% in October, from 5.9% in September.
  • The average workweek of all employees on private nonfarm payrolls increased 0.1 hour to 34.6 hours. Average hourly earnings increased by 3 cents to $24.57. Over the past 12 months, average hourly earnings were up 2.0%.
  • The advance figure for initial claims for unemployment insurance decreased 10 thousand to 278 thousand in the week ending November 1, according to the Department of Labor. The 4-week average was 279 thousand, a decrease of 2.25 thousand from the previous week’s revised average. This is the lowest level for this average since April 29, 2000 when it was 273 thousand.
  • Third quarter productivity increased 2.0% (seasonally adjusted annual rate) in the non-farm business sector, following a 2.9% increase in the previous quarter, according to the U.S. Bureau of Labor Statistics. Unit labor costs increased 0.3% in the third quarter, following a 0.5% decrease in the previous quarter.
  • New orders for manufactured goods decreased 0.6% in September, following a 10.0% decrease in the previous month, according to the U.S. Census Bureau. Shipments rose 0.1% in September, following a 1.1% decrease in the previous month.
  • Sales of domestic cars increased 4.8% in October, while total light vehicle sales increased 0.1%, according to the U.S. Bureau of Economic Analysis. Total vehicle sales were 16.3 million units in October, at a seasonally adjusted annual rate, compared to 15.3 million in October of 2013.
  • In September international trade deficit was $43.0 billion, up from $40 billion in August, according to the U.S. Bureau of Economic Analysis.
  • September consumer credit outstanding increased at an annual rate of 5.9%, according to the Board of Governors of the Federal Reserve System.
  • September construction spending decreased 0.4%, according to the U.S. Census Bureau. Private construction decreased 0.1%, while public construction decreased 1.3%. September construction spending was up 2.9% from a year ago.
  • The results of Freddie Mac’s Primary Mortgage Market Survey of November 6th showed average fixed mortgage rates moving higher for the second consecutive week. 20-year fixed-rate mortgage averaged 4.02% for the week ending November 6, up from last week when it averaged 3.98%.
  • Mortgage applications decreased 2.6% from a week earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending October 31st.
  • The Institute for Supply Management’s (ISM) manufacturing survey indicated that the manufacturing sector expanded in October for the 17th consecutive month, and the overall economy grew for the 65th consecutive month.
  • The Institute for Supply Management’s (ISM) non-manufacturing survey indicated that economic activity in the non-manufacturing sector grew in October for the 57th consecutive month.

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