Thursday, May 31, 2012

It's The Economy Stupid: That's a whole lot of stuff

Okay, so today we have more moving parts than a Swiss watch.  So, let’s make some sense of this stuff

 

Challenger Job Cuts YoY   BAD, HIGHEST NUMBER IN 8 MONTHS

NAPM – Milwaukee    GREAT NUMBER, WAY ABOVE EXPECTATIONS

ADP Employment Change   FEWER JOBS ADDED THAN EXPECTED, NO BIGEE

GDP QoQ Annualized   NOT GOOD, GDP GROWTH DROPS, WE NEED STRONGER GDP GROWTH

Personal Consuption   NOT GOOD, LOWER THAN EXPECTED

GDP Price Index   GOOD, SLIGHTLY HIGHER THAN EXPECTED

Core PCE QoQ   GOOD, AS EXPECTED

Initial Jobless Claims   BAD, INCREASING CLAIMS AIN’T A GOOD THING

Continuing Claims   NOT SO BAD, LOWER THAN EXPECTED

 

What a mess!  A muddy economic picture at best.  Clearly we ain’t doing great, but then again, we ain’t Europe either.

 

 

Economic Event

Period

Economic Survey

Actual Reported

Original Prior

Revised Prior

Challenger Job Cuts YoY

MAY

 

66.7%

11.2%

 

NAPM - Milwaukee

MAY

53.4

57.7

5290.0%

 

ADP Employment Change

MAY

150K

133K

119K

113K

GDP QoQ Annualized

1Q S

1.9%

1.9%

2.2%

 

Personal Consuption

1Q S

2.9%

2.7%

2.9%

 

GDP Price Index

1Q S

1.5%

1.7%

1.5%

 

Core PCE QoQ

1Q S

2.1%

2.1%

2.1%

 

Initial Jobless Claims

MAY 26

370K

383K

370K

373K

Continuing Claims

MAY 19

3250K

3242K

3260K

3278K

 

 

 

 

John Broussard

Assistant State Treasurer

Chief Investment Officer

State of Louisiana

Department of the Treasury

Ph:  225-342-0013

Fx:  225-342-9721

Email:  jbroussard@treasusry.state.la.us

Street Address:

445 North Blvd, 7th Floor

Baton Rouge, LA 70802

Mailing Address:

P.O. Box 44154 Capitol Station

Baton Rouge, LA 70804-4154

Physical Location:

One City Plaza, 7th Floor

Corner of North Blvd & 4th Street

Exit 1B I-110 Convention Street,

Turn Left to get to North Blvd,

Turn Right on North Blvd

 

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