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:

Economic Radar

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

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

Via: floatingpath.com