Global Macro Perspectives
(For September 2010) Philadelphia FED General Business Conditions Index rose to -0.7. The consensus was at +3.8, prior reading at -7.7. Again bellow consensus and again pointing to contraction. Both Empire State Manufacturing and Philadelphia FED General Business Conditions Index point to lower ISM manufacturing. Chart 1. ISM vs. Philadelphia FED, Empire State Manufacturing Surveys and Chicago PMI
(For The Week Ending September 10, 2010) Crude oil stocks fell 1.9 million barrels for the week ending September 10, 2010; Gasoline stocks decreased 0.7 million barrels; Distillate stocks fell 0.3 million barrels; Propane/propylene stocks fell 0.2 million barrels; Other oils stocks were up 0.8 million barrels; Total crude oil and petroleum stocks were 2.9 […]
(For August 2010) U.S. producer price index rose 0.4% in august, just 0.1% shy of 0.3% consensus. July reading was at 0.2%. On year level PPI is up 3.1%. Chart 1. U.S. Producer Price Index Food & energy taken out U.S. producer price index rose 0.1% in August. The consensus was also at 0.1%, prior reading at […]
(For The Week Ending September 10, 2010) Initial jobless claims in the U.S. were reported at 450.000. The consensus was at 459.000, last week revised (up 2.000) reading was at 453.000. Initial claims and 4-week average have come down a bit in last couple weeks, but this level of jobless claims is consistent with negative non-farm […]