Recap of this week’s U.S. economic events:
- 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.
- The consumer price index increased 0.1% in August.
- Total industrial production increased 0.4% in August.
- Housing starts were at a seasonally adjusted annual rate of 891k in August.
- The Empire State manufacturing survey slowed but kept an expansionary reading in September at +6.29.
- The Philly Fed manufacturing survey surged to +22.3, it’s highest level since March 2011.
- In August, the U.S. unemployment rate was up in 12 states year over year.
- Initial jobless claims for the week were a seasonally adjusted 309k. The insured unemployment rate declined once again to 2.1%.
- Weekly store sales data were little changed week/week.
- 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
