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FOMC Policy Announcement
No Taper in June, Language a Little More Positive QE3 will continue as originally defined with a total of $85 billion of asset purchases per month. The FOMC is prepared to change the pace of purchases as conditions change. The … Continue reading
Posted in Daily, Events, United States
Tagged alert, Economic Alert, economy, event, FOMC, u.s.
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May Consumer Prices, Residential Construction
Two More Data Points for the Fed to Consider The May Consumer Price Index increased by 0.1 percent as food prices fell. The May Core CPI increased by 0.2 percent, gaining 1.7 percent over the previous 12 months. Housing Starts … Continue reading
Posted in Daily, General, United States
Tagged alert, CPI, daily, Economic Alert, economy, FOMC, u.s.
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May Producer Price Index, Industrial Production, June Consumer Sentiment
Data Suggests no QE3 Taper this Month The May Producer Price Index for Finished Goods increased by 0.5 percent, pushed by food and energy. The Core PPI for Finished Goods gained a sedate 0.1 percent in May. Industrial Production was … Continue reading
April Income and Spending
Real Income Close to Stall Speed, Savings Rate Stays Low, Disinflation Continues U.S. Personal Income was unchanged nominally in April, but falling prices helped. The PCE Price Index decreased by 0.3 percent in April as gasoline prices eased. After accounting … Continue reading
Posted in Events, General, United States
Tagged alert, Economic Alert, Income, Spending, u.s.
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April New Home Sales, Existing Home Sales, May UI Claims, Fedspeak
Housing-related data continues to be positive. New home sales for April increased by 2.3 percent to hit a 454,000 unit sales rate. Also, Federal Reserve officials are increasingly anticipating the turn in monetary policy. Continue reading
February U.S. Employment
Solid Hiring is the Antidote to Fiscal Tightening The February Payroll Employment Survey showed a solid gain of 236,000 jobs, beating expectations. The Unemployment Rate for February decreased to 7.7 percent, the lowest since December 2008. Average Weekly Hours … Continue reading
January Retail Sales, NFIB Survey, December JOLTS
Consumers Off to a Sluggish Start for Q1, Taxes Matter January Retail Sales increased by just 0.1 percent as consumers adjusted to higher taxes. Ex-auto Retail Sales gained 0.2 percent as general merchandise stores gained 1.1 percent. The NFIB Business … Continue reading
December International Trade, Q4 Productivity, January UI Claims
Positive December Trade Data Expected to Erase Negative on Q4 GDP The U.S. International Trade gap narrowed more than expected in December to -$38.5 billion. Nonfarm Productivity declined at a 2.0 percent annual rate in Q4 due to nonrepeating … Continue reading
January U.S. Employment, ISM Manufacturing Index, Dec. Construction
Limping Into 2013 as Fiscal Headwinds Increase The January Payroll Employment Survey showed a gain of 157,000 jobs, a bit below expectations. The Unemployment Rate for January increased to 7.9 percent, essentially unchanged for 5 months. Average Weekly Hours were … Continue reading
Posted in Daily, United States
Tagged alert, Construction, daily, employment, ISM, Manufacturing, unemployment
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2012Q4 GDP and Federal Reserve Policy Announcement
Q4 Real GDP Contracts Slightly, Monetary Policy Stays on Course Real Gross Domestic Product decreased slightly at a -0.1 percent annualized rate in 2012Q4. The drag came from inventories and Federal defense spending. Consumer spending, business fixed investment and residential … Continue reading
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