Monthly Archives: November 2011

November ADP Employment, New Home Sales, Fed Press Release

Equity Markets Rally on Central Bank News, Stronger Employment Data The ADP Employment Report for November showed an increase of 206,000 private sector jobs. The Federal Reserve, and five other central banks, issued a statement outlining liquidity swaps. New Home … Continue reading

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Comerica Economic Weekly

Undaunted by flat-lined incomes, shoppers forged ahead in October driving retail sales up by 0.5 percent, after a strong 1.1 percent gain in September.  The income constraint means that households are willing to add debt or reduce their saving rate … Continue reading

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Auto Affordability Slips in Q3, Comerica Bank Reports

The purchase and financing of an average-priced new vehicle took 24.2 weeks of median family income in the third quarter of 2011, slightly more than the 24.0 weeks of median family income in the second quarter.  Consumers on average spent … Continue reading

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Oct. Residential Construction, Nov. UI Claims, Philly Fed

Builders Showing More Confidence, Labor Markets Firming Housing Starts for October decreased to a better-than-expected 628,000 unit annual rate. Permits for new residential construction increased to 658,000 units, the most since March 2010. Initial Claims for Unemployment Insurance fell by … Continue reading

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October CPI, Industrial Production

Prices Take a Breather, Manufacturing Forges Ahead The Consumer Price Index for October decreased by 0.1 percent as energy prices eased. The core CPI gained just 0.1 percent in October, but is up 2.1 percent over the last year. Industrial … Continue reading

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Oct. Retail Sales, Producer Prices, Sept. Business Inventories

Shoppers Forge Ahead as Wholesale Prices Ease Retail Sales for October increased by 0.5 percent with strong sales of electronics. Ex-auto Retail Sales increased by 0.6 percent. Auto sales gained 0.4 percent. The Producer Price Index for finished goods fell … Continue reading

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Comerica Economic Weekly

It was a light week for U.S. economic data but most of the new data that we did see was positive, despite the ongoing slow-motion train wreck in Europe. U.S. international trade for September showed a narrowing trade gap, down … Continue reading

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U.S. Data Looks a Little Better, but Beware the Jabberwock

U.S. data at the start of the fourth quarter looks a little  bit better, but the European crisis reminds us of Lewis Carroll’s Jabberwocky, incomprehensible, but with jaws that bite! (See page 2 for more discussion on Europe). October U.S. … Continue reading

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Comerica Economic Weekly

October payroll employment data showed a modest gain of 80,000 jobs for the month. The U.S. unemployment rate ticked down to 9.0 percent.  Those two numbers, by themselves, are not particularly impressive. However, we can see more encouraging signs deeper … Continue reading

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October Employment and Probability of Recession

               Labor Markets Take a Step in the Right Direction, Odds of Recession Falling The October Payroll Employment Survey showed a modest increase of 80,000 jobs for the month. The separate Household Survey showed another sizeable gain, adding 277,000 jobs. … Continue reading

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