Recap of this week’s U.S. Economic Data:
- The ISM non-manufacturing PMI improved to a reading of 56.0 in June.
- Consumer credit grew at an annual rate of 5.9% in June. Credit card use declined but student and auto loans saw continued growth.
- The international trade deficit was $34.2 billion in June, the lowest it has been since October of 2009.
- The national gasoline price per gallon for all formulations of regular was $3.63 in July, up about 14 cents from June.
- Initial jobless claims for the week were 333k and have been stabilized well below 400k.
- Store sales for the week were up 2.1% and up 3.2% from a year ago (4 week MA).
Further reading on Economic Data:
- Beyond The Horizon: U.S. Off-Balance-Sheet Liabilities
- Contrary To Popular Belief, Young Credit Card Users Are Not The Most Likely To Default
The U.S. economic schedule for the week ahead:
Baupost's investment process involves "never-ending" gleaning of facts to help support investment ideas Seth Klarman writes in his end-of-year letter to investors. In the letter, a copy of which ValueWalk has been able to review, the value investor describes the Baupost Group's process to identify ideas and answer the most critical questions about its potential Read More
Monday, August 12, 2013
- Treasury Statement – Last 12mo rolling budget deficit of $694.7 billion.
Tuesday, August 13, 2013
- Business inventories – Last inventories-to-sales ratio at 1.29.
- Retail Sales – Last +5.7% Y/Y.
- Weekly store sales
Wednesday, August 14, 2013
- Producer price index – Last +2.5% Y/Y.
Thursday, August 15, 2013
- Consumer price index – Last +1.8% Y/Y.
- Empire State manufacturing survey – Last +9.46.
- Philly Fed manufacturing survey – Last +19.8.
- Industrial production – Last +1.8% Y/Y.
- Weekly initial jobless claims
Friday, August 16, 2013
- Housing starts – Last SAAR of 836k.
- Productivity and costs – Last labor productivity +0.9% Y/Y, unit labor costs +1.1% Y/Y.
- Consumer sentiment – Last 85.1.