Economic Reports 07/19/07
Summary: The housing bleed continues into multiple sectors.
as a tsunami of broadbased layoffs increases continuing unemployment.
Leading indicators declining and Philly Fed confirming NY Empire's "work off of excess channel stuffing" with a decrease in new orders.
Initial Claims 07/14 -8K 301K vs prior 309K Full Report
Inside the number: 4 week MA -6.25K at 312K. Continuing claims +20K at 2.571M; 4 week MA +13.5K at 2.542.
STATES WITH AN INCREASE OF MORE THAN 1,000
State Change State Supplied Comment
ND +1,156 manufacturing
WA +1,250 No comment.
PR +1,422 No comment.
MN +1,431 construction, manufacturing
OK +1,698 No comment.
TN +1,709 rubber/plastics, industrial machinery, transportation equipment, fabricated metals
KS +1,725 manufacturing
AL +1,880 transportation equipment, service
CA +2,023 service
OR +2,220 No comment.
AR +2,264 manufacturing
GA +2,854 service
MO +3,361 transportation, warehousing, manufacturing
IL +3,504 trade, service,manufacturing
IA +4,047 manufacturing
IN +5,855 automobile
PA +6,721 food, chemical, leather goods, fabricated metals
WI +11,835 construction, service, transportation, warehousing, manufacturing
NY +12,223 transportation, service, public administration
OH +12,830 automobile
MI +31,282 automobile
Leading Indicators Jun -0.3% vs prior +0.3% Full Report
Inside the number: 4th decline in 6 months. Going up: average weekly manufacturing hours, manufacturers’ new orders for nondefense capital goods and stock prices.
Going down: building permits, average weekly initial claims for unemployment insurance (inverted), index of consumer expectations, vendor performance, and interest rate spread.
Steady: manufacturers’ new orders for consumer goods and materials and real money supply.
Philadelphia Fed Jul down to 9.2 vs 18.0 Full Report
Inside the number: new orders down 11.3 vs 18.3; shipments up 20.3 vs 5; delivery times faster -1.1 vs -3.1; inventories down +0.8 vs -8.2; prices received up 8.8 vs 5.1.
Much like NY Empire with the exception of declining new orders.
as a tsunami of broadbased layoffs increases continuing unemployment.
Leading indicators declining and Philly Fed confirming NY Empire's "work off of excess channel stuffing" with a decrease in new orders.
Initial Claims 07/14 -8K 301K vs prior 309K Full Report
Inside the number: 4 week MA -6.25K at 312K. Continuing claims +20K at 2.571M; 4 week MA +13.5K at 2.542.
STATES WITH AN INCREASE OF MORE THAN 1,000
State Change State Supplied Comment
ND +1,156 manufacturing
WA +1,250 No comment.
PR +1,422 No comment.
MN +1,431 construction, manufacturing
OK +1,698 No comment.
TN +1,709 rubber/plastics, industrial machinery, transportation equipment, fabricated metals
KS +1,725 manufacturing
AL +1,880 transportation equipment, service
CA +2,023 service
OR +2,220 No comment.
AR +2,264 manufacturing
GA +2,854 service
MO +3,361 transportation, warehousing, manufacturing
IL +3,504 trade, service,manufacturing
IA +4,047 manufacturing
IN +5,855 automobile
PA +6,721 food, chemical, leather goods, fabricated metals
WI +11,835 construction, service, transportation, warehousing, manufacturing
NY +12,223 transportation, service, public administration
OH +12,830 automobile
MI +31,282 automobile
Leading Indicators Jun -0.3% vs prior +0.3% Full Report
Inside the number: 4th decline in 6 months. Going up: average weekly manufacturing hours, manufacturers’ new orders for nondefense capital goods and stock prices.
Going down: building permits, average weekly initial claims for unemployment insurance (inverted), index of consumer expectations, vendor performance, and interest rate spread.
Steady: manufacturers’ new orders for consumer goods and materials and real money supply.
Philadelphia Fed Jul down to 9.2 vs 18.0 Full Report
Inside the number: new orders down 11.3 vs 18.3; shipments up 20.3 vs 5; delivery times faster -1.1 vs -3.1; inventories down +0.8 vs -8.2; prices received up 8.8 vs 5.1.
Much like NY Empire with the exception of declining new orders.
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