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US Economy: Jobless Claims back at 351k, Empire State 20.21

After the last week data was revised upwards, Jobless Claims are down 14k for the week and the moving average is up very slightly to 355.75K and thus unchanged for this week and last. Continuing claims pulled down the average to 3.394 mln down by 81k at 3.343 mln. Th einsurance dictated unemployment is down to 2.6%. As the chart on the right shows, even in 2006 the number was never lower than 300k

Treasury inflows jumped to a $101 bln for the month of January as new year brought in interest in US Auctions as well as corporate bonds and equities and the New York District kept its nose up from a high 19.53 on the Empire State mfg index last month to  20.21, beating the consensus expectations of a slight correction based on the low new orders number of 9.73 last month. New Orders did slow down and unfilled orders fortunately did not tick down as badly as before. If Philly reports better than last month too in an hour, hopes for a recovery would stay up . the Six month outlook  component of the Empire State Index has already trended down from last month’s high. The survey data is for the current month

The PPI rise kept track of expectations at 0.4% led by Oil and Food prices as Core PPI was up just 0.2%. The unadjusted year on year number is up 3.3% compared to 4% for January while Core PPI was level at 3% for both months of the new year. The PPI numbers are a little on the higher side especially on the Year on Year comparisons.

 

 

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This entry was posted on March 15, 2012 by in Amitonomics, US and tagged , , , , , , , .

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