Initial Jobless Claims, Continuing Claims, GDP, Personal Consumption, Bloomberg Consumer Comfort, Pending Home Sale, Kansas City Fed Manufacturing Activity.
That’s a lot of economic stuff. But for the next couple of weeks the markets are going to be captive to the shenanigans going on in Washington DC. Just remember, DC is largely inhabited by politicians, not financial gurus. Anyway, here are the numbers:
Economic Event | Period | Economic Survey | Actual Reported | Original Prior | Revised Prior |
Initial Jobless Claims | Sep 21 | 325K | 305K | 309K | 310K |
Continuing Claims | Sep 14 | 2818K | 2823K | 2787K | 2788K |
GDP Annualized QoQ | 2Q T | 2.60% | 2.50% | 2.50% | -- |
Personal Consumption | 2Q T | 1.90% | 1.80% | 1.80% | -- |
GDP Price Index | 2Q T | 0.80% | 0.60% | 0.80% | -- |
Core PCE QoQ | 2Q T | 0.80% | 0.60% | 0.80% | -- |
Bloomberg Consumer Comfort | Sep 22 | -- | -- | -29.4 | -- |
Pending Home Sales MoM | Aug | -1.00% | -- | -1.30% | -- |
Pending Home Sales YoY | Aug | 6.30% | -- | 8.60% | -- |
Kansas City Fed Manf. Activity | Sep | 8 | -- | 8 | -- |
Initial Jobless Claims numbers were less than estimated, that’s a good thing. Continuing Claims were close. I don’t think either one of these changes the Fed’s position on tapering. GDP was steady at 2.5%. Personal Consumption was steady at 1.8%. Certainly neither one of those pegs the growth needle on the economy’s speedometer. So the numbers were good, but not great. The economy is doing okay and economic growth is steady, but on the low side.
John Broussard
Assistant State Treasurer
Chief Investment Officer
State of Louisiana
Department of the Treasury
225-342-0013
jbroussard@treasury.state.la.us
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