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Weekly Economic Update
A week shortened by Veteran’s Day left us with fewer data points than usual, but enough to weave a story around. (0/+) Industrial production fell -0.1% in October, which was a bit of a surprise considering expectations called for a … Continue reading
Weekly Economic Update
(+/0) The advance GDP figure for the third quarter came in at +2.8%, which dramatically surpassed consensus expectations of +2.0% or so. However, much of the positive impact (0.8% of that 2.8%) came from larger inventory accumulation coupled with a … Continue reading
Weekly Economic Update
Since we’re no longer playing ‘catch-up’ with the economic data, there happened to be a lot of it. (+) The Chicago PMI rose significantly higher over the past month, from September’s 55.7 to 65.9 in October (surpassing a forecasted flattish … Continue reading
Weekly Economic Update
Now that the government is back open for business, we again have our flurry of economic items. (0/-) Durable goods orders for September came in mixed, with the headline number gaining +3.7% versus a forecasted +2.3%. Removing transports from the … Continue reading
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Tagged DJIA, Economic Update, Government, LSA, S&P500, Shutdown
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Weekly Economic Update
Global investors were relieved when President Obama signed H.R. 2775 into law last Thursday, effectively ending the government shutdown and funding it through Jan. 15, 2014. The law also extends the country’s debt limit through Feb. 7, 2014. Due to … Continue reading
Weekly Economic Update
(+) The ISM manufacturing index for September was a bit stronger than anticipated, rising from 0.5 points from August, coming in at 56.2 versus an expected 55.0. This is the highest point for the ISM since April 2011. The details … Continue reading
Weekly Economic Update
(0) The 3rd and final estimate of GDP growth was unchanged from the second estimate of +2.5%, despite consensus assumptions for a slight increase to +2.6%. Inventory investment was revised downward slightly while state/local spending were bumped up a bit, … Continue reading
Weekly Economic Update
The biggest news of the week was the FOMC meeting, press release and news conference, but we won’t rehash our earlier note of the week. Long-story short, the ‘taper’ is postponed for now, and that drove sentiment (up) much more … Continue reading
Weekly Economic Update
Economic data was being watched perhaps a bit more closely this last week with the Fed meeting upcoming and talk of the ‘taper’ hanging in the balance. (-) Retail sales for August gained a meager +0.2%, which disappointed a bit … Continue reading
Weekly Economic Update
(-) Durable goods orders for July came in weaker than expected, falling -7.3% relative to a consensus forecast decline of -4.0%. Removing transportation from the headline figure, orders fell a much less dramatic -0.6%, but underperformed an expected +0.5% gain … Continue reading
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