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Archive for June 24th, 2008

Warren B is on the radio!

Posted by Sada Mosler on 24th June 2008

Mike Norman’s show

Tuesday, June 24, 2008 @ 10:20 EST

Houston Area: Houston 1110 AM KTEK
Dallas / Fort Worth Area: DFW 1110 AM KJSA

Posted in Radio | 6 Comments »

2008-06-24 Daily US Economic Releases

Posted by WARREN MOSLER on 24th June 2008


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S&P/Case Shiller Home Price Index (Apr)

Survey
Actual 169.9
Prior 172.2
Revised 172.2

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S&P/Case Shiller Composite 20 YoY (Apr)

Survey -16.0%
Actual -15.3%
Prior -14.4%
Revised -14.3%

Karim writes:

  • Conf board survey drops to 16yr low, from 58.1 to 50.4
  • Current conditions drop 9.7pts and future expectations fall 6.3pts
  • 1yr fwd inflation expex unch at 7.7
  • All following drop to new cycle lows
  • Jobs plentiful less jobs hard to get (-12.2 to -16.4; pretty good leading indicator of unemployment rate)
  • Plans to buy auto in next 6mths from 5.1 to 4.8
  • Plans to buy a home from 2.4 to 2.2
  • Plans for a domestic vacation from 33.4 to 29.6
  • Plans for foreign vacation from 8.2 to 7.5

Inflation is biting harder than the lower Fed funds rate is helping.

The Fed has to decide whether a slightly higher Fed funds rate will bring more relief/benefit to consumers on the inflation side than possible additional drag from the interest rate side.
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Consumer Confidence (Jun)

Survey 56.0
Actual 50.4
Prior 57.2
Revised 58.1

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Richmond Fed Manufacturing Index (Jun)

Survey -5
Actual -12
Prior -5
Revised n/a

Not looking good.

Weakness and ‘inflation’ continue.
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House Price Index MoM (Apr)

Survey -0.4%
Actual -0.8%
Prior -0.4%
Revised -0.6%

Back down, but at least not through the lows.

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ABC Consumer Confidence (Jun 22)

Survey -
Actual -
Prior -44
Revised -


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Posted in Daily, Housing | No Comments »