2008-09-26 USER


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GDP QoQ Annualized (2Q F)

Survey 3.3%
Actual 2.8%
Prior 3.3%
Revised n/a

 
Growth lower than expected, but still ok.

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GDP YoY Annualized Real (2Q F)

Survey n/a
Actual 2.0%
Prior 2.1%
Revised n/a

 
Still above recession levels, but still not looking that healthy.

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GDP YoY Annualized Nominal (2Q F)

Survey n/a
Actual 4.1%
Prior 4.7%
Revised n/a

 
Nominal GDP falling, but not yet to previous recession levels.

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GDP Price Index (2Q F)

Survey 1.2%
Actual 1.1%
Prior 1.2%
Revised n/a

 
A little better than expected, but this series doen’t carry much weight.

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GDP ALLX (2Q F)

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Core PCE QoQ (2Q F)

Survey 2.1%
Actual 2.2%
Prior 2.1%
Revised n/a

 
A bit higher than expected, and the Fed does watch this one closely. They want it under 2%.

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Personal Consumption (2Q F)

Survey 1.7%
Actual 1.2%
Prior 1.7%
Revised n/a

 
Worse than expected and not moving much off the bottom, which are at recession type levels.

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Personal Consumption ALLX 1 (2Q F)

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Personal Consumption ALLX 2 (2Q F)

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Univ. of Michigan Confidence (Sep F)

Survey 70.8
Actual 70.3
Prior 73.1
Revised n/a

 
Less than expected but looks to have perked up some.

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1 Year Inflation Expectations (Sep F)

Survey n/a
Actual 4.3%
Prior 3.6%
Revised n/a

 
Welcome news for the Fed. Follows gasoline prices pretty closely.

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5 Year Inflation Expectations (Sep F)

Survey n/a
Actual 3.0%
Prior 2.9%
Revised n/a

 
Also nice to see that coming down.

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Univ. of Michigan TABLE Inflation Expectations (Sep F)


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2008-03-27 US Economic Releases

2008-03-27 GDP Annualized

GDP Annualized (4Q F)

Survey 0.6%
Actual 0.6%
Prior 0.6%
Revised n/a

2008-03-27 Personal Consumption

Personal Consumption (4Q F)

Survey 1.9%
Actual 2.3%
Prior 1.9%
Revised n/a

Revised up to a very respectable number. And income remains positive, and employment is at high levels.


2008-03-27 GDP Price Index

GDP Price Index (4Q F)

Survey 2.7%
Actual 2.4%
Prior 2.7%
Revised n/a

A bit better than previously reported, but prices have subsequently gone much higher.


2008-03-27 Core PCE QoQ

Core PCE QoQ (4Q F)

Survey 2.7%
Actual 2.5%
Prior 2.7%
Revised n/a

The Fed is more concerned about this and the evidence food and energy is getting passed through from headline to core measures.


2008-03-27 Initial Jobless Claims since 1998

Initial Jobless Claims (Mar 22)

Survey 370K
Actual 366K
Prior 378K
Revised 375K

2008-03-27 Continuing Claims since 1998

Continuing Claims (Mar 15)

Survey 2885K
Actual 2845K
Prior 2865K
Revised 2850K

Best guess:

The jobless recovery that morphed into the full employment recession now appears to be over with today’s jobless claims numbers leaning in the same direction as other data released earlier this week.

That does not mean the issues with the financial sector are all behind us – far from it.

It does mean the real economy has figured out how to move on with what’s left of the financial sector.


2008-03-27 Help Wanted Index

Help Wanted Index (Feb)

Survey 20
Actual 21
Prior 21
Revised 22

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2007-12-20 US Economic Releases

small 2007-12-20 GPD Annualized

GDP Annualized (3QF)

Survey 4.9%
Actual 4.9%
Prior 4.9%
Revised n/a

small 2007-12-20 Personal Consumption

Personal Consumption (3QF)

Survey 42.8.9%
Actual 2.8%
Prior 2.7%
Revised n/a

2007-12-20 GDP Price Index

GDP Price Index (3QF)

Survey 0.9%
Actual 1.0%
Prior 0.9%
Revised n/a

Above numbers as expected.


small 2007-12-20 Core PCE QoQ

Core PCE QoQ (3QF)

Survey 1.8%
Actual 2.0%
Prior 1.8%
Revised n/a

This is now at the upper bound of the fed’s comfort zone.


2007-12-20 Initial Jobless Claims

Initial Jobless Claims (Dec 15)

Survey 335K
Actual 346K
Prior 333K
Revised 334K

Creeping up.

Fed gets concerned if it gets over 375K.


2007-12-20 Continuing Claims

Continuing Claims (Dec 8)

Survey 2610K
Actual 264K
Prior 2639K
Revised 2634K

Creeping up as well, but not yet a major concern.


2007-12-20 Leading Indicators

Leading Indicators (Nov)

Survey -0.3%
Actual -0.5%
Prior -0.5%
Revised n/a

Pretty much in line with expectations.


2007-12-20 Philadelphia Fed.

Philadelphia Fed. (Dec)

Survey 6.0%
Actual -5.7%
Prior 8.2%
Revised n/a

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