This post first appeared on FloatingPath
A recap of this busy week’s U.S. economic events:
- As expected, the FOMC decided to “await more evidence” before tapering their asset purchases.
- The Consumer Price Index was up only 1.2% year over year in September.
- The Producer Price Index was up only 0.3% year over year in September.
- ADP saw only 130k new private payrolls in October.
- The rolling 12 month U.S. government budget deficit through September is $680.2 billion.
- ISM Manufacturing PMI expanded further to 56.4 in October.
- The Chicago PMI exploded higher to 65.9 in October.
- Dallas Fed manufacturing decreased but remained in expansion at +3.6 in October.
- Consumer confidence absolutely plummeted in October to 71.2.
- Industrial production increased 0.6% in September.
- Retail sales decreased 0.1% in September.
- Now Tracking: Intuit U.S. Small Business Index.
- Manufacturers’ inventories and sales both increased in August.
- The NFCI suggested that financial conditions loosened slightly last week.
- Initial jobless claims for the week declined to 340k. The insured unemployment rate was unchanged at 2.2%.
- M2 increased 0.51% week over week.
- Halloween purchases kept store sales for the week afloat.
Further U.S. economy reading:
In August, Mohnish Pabrai took part in Brown University's Value Investing Speaker Series, answering a series of questions from students. Q3 2021 hedge fund letters, conferences and more One of the topics he covered was the issue of finding cheap equities, a process the value investor has plenty of experience with. Cheap Stocks In the Read More
- Panama Canal Expansion Spurs Infrastructure Spending For U.S. East Coast
- The American Oil Boom Continues To Surge
The U.S. Economic Radar graphic is under construction this week. It will be back next week.
U.S. economic schedule for the week ahead:
Monday, November 4, 2013
Tuesday, November 5, 2013
- ISM Non-Manufacturing Survey – Last at 54.4.
- Weekly Store Sales
Wednesday, November 6, 2013
- Weekly National Financial Conditions Index
Thursday, November 7, 2013
- Gross Domestic Product – Last at SAAR of +2.48%.
- SNAP (food stamps) Participation – Last SNAP-to-Employed at 33%.
- Consumer Credit – Last up 5.9% Y/Y.
- Weekly Initial Jobless Claims
- Weekly Money Supply
Friday, November 8, 2013
- Employment Situation – Last U-3 at 7.2%, NFP at +148k.
- Personal Income and Outlays – Last Real DPI up 1.6% Y/Y, Real PCE up 2.0% Y/Y.
- Consumer Sentiment – Last at 73.2.