Recap of the week’s U.S. economic events:
- GDP growth in the second quarter was revised slightly downward to 2.48%.
- The Chicago Fed’s National Activity Index moved to an above-historical-trend reading of +0.14 in August.
- Real disposable personal income increased 0.3% and real personal consumption expenditures increased 0.2% in August.
- New home sales were a seasonally adjusted annual rate of 421k in August, an increase from July but still historically low.
- The Case-Shiller house price index increased 1.8% in July.
- The FHFA house price index increased 1.0% in July.
- New orders for durable goods increased 0.1% in August.
- Consumer confidence decreased in September to 79.7, its lowest reading since May.
- Consumer sentiment also declined in September to 77.5, its lowest reading since April.
- The total number of vehicle miles driven on all roads and streets were up 1.6% Y/Y in July.
- The Richmond Fed manufacturing survey decreased to a reading of 0.0 in September.
- The Kansas City Fed manufacturing survey decreased in September but stayed in expansion at a reading of +2.
- Initial jobless claims for the week were a seasonally adjusted 305k, quite the positive reading. The insured unemployment rate ticked up to 2.2% but remains below the 2.3% from several week ago.
- M2 supply increased 0.04% week over week.
- Store sales for the week were little changed.
Further U.S. economy reading:
- If Appointed, Yellen Would Be The Oldest Fed Chair In History
- The FOMC’s New Voting Members For 2014
Schedule for the week ahead:
Monday, September 30, 2013
Tuesday, October 1, 2013
- ISM Manufacturing survey – Last at 55.7.
- Construction Spending – Last up 6.4% Y/Y.
- Motor Vehicle Sales – Last up 11.4% Y/Y.
- Weekly Store Sales
Wednesday, October 2, 2013
- ADP Employment – Last +176k payrolls.
Thursday, October 3, 2013
- ISM Non-Manufacturing survey – Last at 58.6.
- Factory Orders – Last up 1.9% Y/Y.
- Weekly Initial Jobless Claims
- Weekly Money Supply
Friday, October 4, 2013
- Employment Situation – Last +169k nonfarm payrolls, U-3 at 7.3%.
Tags: ADP Employment Chicago Chicago PMI Construction Spending Consumer Confidence Consumer Sentiment Dallas Fed Manufacturing Survey Durable Goods Orders Employment Situation Report Factory Orders Federal Open Market Committee FHFA house price index Gross domestic product housing Institute for Supply Management ISM Manufacturing Jobless claims Manufacturing New Home Sales Store Sales