GDP Q2; Initial Claims; Chicago PMI
Summary: As unemployment worsens, Initial claims spikes to 450K level...
Chicago PMI first positive reading in six months, but no relief for stagflation or employment.
GDP running negative for the 3rd straight quarter, an emasculated economy in contraction with spiking prices and cap ex gone south.
FYI: Q4 GDP revised to -0.2% vs +0.6%, OFFICIAL acknowledgment of our -0.4% number from March and Feb prediction of worse times to come.
Initial Claims 07/26 +44K at 448K vs 404K Full Report
Inside the number: 4 week MA +11K at 393K; Continuing unemployment +185K at 3.282M; 4 week MA +42.75K at 3.174M.
Chicago PMI Jul 50.8 vs 49.6 Full Report
Inside the number: The first over 50 reading in six months with Production increasing 49.2 vs 45.1.
However, Employment still contracting 45.9 vs 46.7; and Prices Paid still soaring 90.7 vs 85.
GDP-Adv. Q2 +1.9% vs +0.9% Full Report
Inside the number: Non durable prices spiked... Real PCE +1.5% vs +0.9%; Durable -3% vs -4.3%; Non durable +4% vs -0.4%; Services +1.1% vs +2.4%.
Fixed Investment or CapEx fell off a cliff... Equipment & Software -3.4% vs -0.6%; Real residential -15.6% vs -25.1%.
Stagflation raged... Real exports goods +11.9% vs +4.5%;
Despite $140 oil, economic contraction with less spending...
Real imports -6.6% vs -0.8%; services -8.4% vs +5.5%; Real gross domestic purchases -0.5% vs +0.1%.
Price increases % of GDP accounted for: non durable +0.83%; services +0.47%; totaling 1.3%...
add increase in government expenditures +0.67 and you get 1.97%, deduct from advertised +1.9% and GDP is again, negative -0.07%
Chicago PMI first positive reading in six months, but no relief for stagflation or employment.
GDP running negative for the 3rd straight quarter, an emasculated economy in contraction with spiking prices and cap ex gone south.
FYI: Q4 GDP revised to -0.2% vs +0.6%, OFFICIAL acknowledgment of our -0.4% number from March and Feb prediction of worse times to come.
Initial Claims 07/26 +44K at 448K vs 404K Full Report
Inside the number: 4 week MA +11K at 393K; Continuing unemployment +185K at 3.282M; 4 week MA +42.75K at 3.174M.
Chicago PMI Jul 50.8 vs 49.6 Full Report
Inside the number: The first over 50 reading in six months with Production increasing 49.2 vs 45.1.
However, Employment still contracting 45.9 vs 46.7; and Prices Paid still soaring 90.7 vs 85.
GDP-Adv. Q2 +1.9% vs +0.9% Full Report
Inside the number: Non durable prices spiked... Real PCE +1.5% vs +0.9%; Durable -3% vs -4.3%; Non durable +4% vs -0.4%; Services +1.1% vs +2.4%.
Fixed Investment or CapEx fell off a cliff... Equipment & Software -3.4% vs -0.6%; Real residential -15.6% vs -25.1%.
Stagflation raged... Real exports goods +11.9% vs +4.5%;
Despite $140 oil, economic contraction with less spending...
Real imports -6.6% vs -0.8%; services -8.4% vs +5.5%; Real gross domestic purchases -0.5% vs +0.1%.
Price increases % of GDP accounted for: non durable +0.83%; services +0.47%; totaling 1.3%...
add increase in government expenditures +0.67 and you get 1.97%, deduct from advertised +1.9% and GDP is again, negative -0.07%
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