Thursday, September 26, 2013

It's The Economy Stupid: Jobless, GDP, Personal Consumption, Home Sales, Lots of Stuff

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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