Economic Reports 05/25/09
NAHB/WF Housing Index May
16 vs 14 A headline gain for the 2nd straight month, but the traffic component was flat.
Housing Starts & Permits April
Did someone say recovery or bottom??? -12.8% to 458K; a new record low; year over year -54.2%.
Permits -3.3% at 494K; Yoy -50.2%. Again, case closed on the pollyannish cheerleaders of the "recovery"…
Initial Jobless Claims 05/16
Severe with no signs of a let up… -12K at 631K; 4 week MA -3.5K at 628.5K.
Continuing claims with the 17th straight increase to another new record high: +75K at 6.662M; 4 week MA +131K at 6.349M
A glimpse at the states with increases +1K is appalling.
Philadelphia Fed Survey May
-22.6 vs -24.4 an indication of continued overall decline and continued weakness.
Although the indexes for general activity, shipments, and employment improved...
new orders, the Achilles' heel of last week's Empire State report, showed no improvement as the index declined slightly.
Firms reported decreases in input prices and prices for their own manufactured goods.
There was improvement in shipments, destocking, and layoffs but the trouble in new orders points to wide trouble for future reports.
16 vs 14 A headline gain for the 2nd straight month, but the traffic component was flat.
Housing Starts & Permits April
Did someone say recovery or bottom??? -12.8% to 458K; a new record low; year over year -54.2%.
Permits -3.3% at 494K; Yoy -50.2%. Again, case closed on the pollyannish cheerleaders of the "recovery"…
Initial Jobless Claims 05/16
Severe with no signs of a let up… -12K at 631K; 4 week MA -3.5K at 628.5K.
Continuing claims with the 17th straight increase to another new record high: +75K at 6.662M; 4 week MA +131K at 6.349M
A glimpse at the states with increases +1K is appalling.
Philadelphia Fed Survey May
-22.6 vs -24.4 an indication of continued overall decline and continued weakness.
Although the indexes for general activity, shipments, and employment improved...
new orders, the Achilles' heel of last week's Empire State report, showed no improvement as the index declined slightly.
Firms reported decreases in input prices and prices for their own manufactured goods.
There was improvement in shipments, destocking, and layoffs but the trouble in new orders points to wide trouble for future reports.
Comments