US Economic Radar – September 20, 2013

Recap of this week’s U.S. economic events:

1. No taper. The Fed announced that there will be no tapering yet of the the $40 billion MBS purchases per month and $45 billion worth of longer-term Treasury securities purchases per month.
2. The consumer price index increased 0.1% in August.
3. Total industrial production increased 0.4% in August.
4. Housing starts were at a seasonally adjusted annual rate of 891k in August.
5. The Empire State manufacturing survey slowed but kept an expansionary reading in September at +6.29.
6. The Philly Fed manufacturing survey surged to +22.3, it’s highest level since March 2011.
7. In August, the U.S. unemployment rate was up in 12 states year over year.
8. Initial jobless claims for the week were a seasonally adjusted 309k. The insured unemployment rate declined once again to 2.1%.
9. Weekly store sales data were little changed week/week.
10. The M2 money supply was also little changed week/week.

Further U.S. economy reading:

• Larry Summers Sends Obama Letter Withdrawing Name For Fed Chair
• 14.5% Of U.S. Households Were Food Insecure Last Year

Schedule for the week ahead:

Monday, September 23, 2013

• Chicago Fed National Activity Index – Last -0.15.
• Vehicle Miles Driven – Last down 0.4% Y/Y.

Tuesday, September 24, 2013

• S&P Case-Shiller House Price Index – Last up 12.2% Y/Y.
• FHFA House Price Index – Last up 7.7% Y/Y.
• Consumer Confidence – Last at 81.5.
• Richmond Fed Manufacturing Survey – Last at +14.
• Weekly Store Sales

Wednesday, September 25, 2013

• Durable Goods Orders – Last at -0.9% Y/Y.
• New Home Sales – Last at 394k SAAR.

Thursday, September 26, 2013

• Gross Domestic Product – Last real GDP at SAAR of +2.52%.
• Kansas City Fed Manufacturing Survey – Last at +8.
• Weekly Initial Jobless Claims
• Weekly Money Supply

Friday, September 27, 2013

• Personal Income and Outlays – Last real DPI +0.8% Y/Y, real PCE +1.7% Y/Y.
• Consumer Sentiment – Last at 76.8.

Via: floatingpath.com