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

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

1. 169k nonfarm payrolls were added in August, the unemployment rate decreased to 7.3%, and much, much more.
2. ADP saw 176k new private payrolls added in August.
3. The Beige Book published by the Federal Reserve indicated that economic growth has been “modest to moderate“.
4. The monthly international trade deficit increased to $39.1 billion in July.
5. The PMI of the ISM manufacturing survey expanded to 55.7 in August.
6. The NMI of the ISM non-manufacturing survey expanded to 58.6 in August.
7. Construction spending increased 0.6% in July.
8. Labor productivity increased at an annual rate of 2.3% in Q2. Unit labor costs were flat.
9. Factory orders decreased 2.4% in July.
10. The national average gasoline price in August was $3.61 per gallon.
11. Motor vehicle sales increased to a SAAR of 16.09 million in August.
12. Initial jobless claims for the week decreased to 323k. The insured unemployment rate was unchanged at 2.3%.
13. The M2 money supply increased 0.34% W/W and is now up 6.6% Y/Y.
14. Weekly store sales indexes diverged this week, are now up 2.1% Y/Y and up 3.9% Y/Y (4 week MA’s).

Further U.S. economy reading:

• The Thought Processes Of Larry Summers
• U.S. Worker Anxiety Still Near Great Recession Levels
• SNAP Benefits Increasingly Going To The Suburbs

Schedule for the week ahead:

Monday, September 9, 2013

• Consumer Credit – Last up 5.1% Y/Y.

Tuesday, September 10, 2013

• Weekly Store Sales

Wednesday, September 11, 2013

• —

Thursday, September 12, 2013

• Treasury Statement – Last 12 mo rolling budget deficit at $722.7 billion.
• Weekly Initial Jobless Claims
• Weekly Money Supply

Friday, September 13, 2013

• Producer Price Index – Last up 2.1% Y/Y.
• Retail Sales – Last up 5.2% Y/Y.
• Business Inventories – Last inventories-to-sales at 1.29.
• Consumer Sentiment – Last at 82.1.

via: FloatingPath