Global Macro Perspectives
(For September 2010) University of Michigan/Reuters Consumer Sentiment for September came out at 66.6 vs. 70.0 consensus and 68.9 August reading. Another weak reading, consumer don’t feel like spending. Weakest reading since August 2009. Chart 1. University of Michigan/Reuters Consumer Sentiment
(For August 2010) U.S. consumer price index rose 0.3% in August, right at the consensus. July reading was also 0.3%. Chart 1. U.S. Consumer Price Index Consumer price index fell less food & energy came out unchanged. The consensus was at 0.1%, July reading was at 0.1%. Chart 2. U.S. Consumer Price Index Core (Less Food […]
(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 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 […]
U.S. industrial production rose 0.2% in August. The consensus was at 0.2%, July revised (from +1.0) reading at 0.6%. Chart 1. U.S. Industrial Production Capacity utilization rose to 74.7% in August vs. 74.6% in July (revised from 74.8%) and consensus of 75.0%. Chart 2. Capacity Utilization Same as with Empire State Manufacturing Survey earlier today, below […]
(For September 2010) Empire State Manufacturing Survey for September came out at 4.14 vs. 8.0 consensus and 7.1 prior reading. Again bellow consensus; again deteriorating. It will be hard to produce another miraculous ISM Manufacturing reading. Chart 1. ISM vs. Philadelphia FED, Empire State Manufacturing Surveys and Chicago PMI
Ceridian-UCLA Pulse of Commerce Index climbed 1.7% in July following a 1.9% drop in June. Press release. “The August data is obviously discouraging after the cautious optimism created from July’s report,” said Ed Leamer, chief PCI economist. “There is not much to feel good about with the August data in terms of the unemployment picture, but there […]
(For August 2010) U.S. retail sales rose 0.4% in August . The consensus was at 0.3%, June reading was revised down to 0.3%. Autos taken out, the figure was an increase of 0.6% right vs. consensus 0.3% growth. Prior reading was revised to 0.1%. On year level retail sales are up 3.6%. Gains, again, came mostly […]
(For The Week Ending September 3, 2010) ECRI Weekly Leading Index for week ending September 3, 2010 was reported down 10.1%. Prior (revised down -0.1) reading was at -10.2%. Still in the recession territory. Chart 1. ECRI Weekly Leading Index
(For The Week Ending September 3, 2010) Initial jobless claims were reported at 451.000. The consensus was at 470.000, last week revised (up 8.000) reading was at 478.000. Bloomberg: Jobless Claims in U.S. Decreased 27,000 to 451,000 Last Week. …For the latest reporting week, nine states didn’t file claims data to the Labor Department in […]
(For July 2010) U.S. trade balance for June was reported at $-42.8 billion vs. consensus of $-47.0 billion and June reading of $-49.8 billion. Chart 1. U.S. Trade Balance
(For The Week Ending September 3, 2010) Initial jobless claims were reported at 451.000. The consensus was at 470.000, last week revised (up 8.000) reading was at 478.000. Chart 1. U.S. Initial Jobless Claims
(For August 2010) ISM Non- Manufacturing Index was reported at 51.5 vs. 53.0 consensus and 54.3 reading in July. Chart 1. ISM Non- Manufacturing Index
(For The Week Ending August 27, 2010) ECRI Weekly Leading Index for week ending August 27 was reported down 10.1%. Prior reading was at -9.9%. Again in the recession territory. Chart 1. ECRI Weekly Leading Index