Economic Reports 11/15/07
Summary: Yesterday we reported on our efforts to help the PPI.
Today's CPI forces cutbacks in our childrens eating, drinking, and being Mary. Non durables less energy show double digit stagflation.
Initial claims shows continuing unemployment balloning with the bleed continuing into sectors outside housing.
NY Empire Index and Philly Fed confirm a slowing and less favorable outlook for commerce and cap ex.
CPI Oct +0.3% vs prior +0.3% Full Report
Inside the number: Core CPI Oct +0.2% vs prior +0.2%. Since Oct 2006: Non durables less food & energy +10.1%. Non durables less food, beverages and apparel +10.7%.
3 months ended Oct...
Nudist Mary... Infants apparel +11.9%; Sore nipples... Dairy +12.3%; No sicko... Hospital services +10.2%; No school... Educational Books & Supplies +8.1%
The purchasing power of a 1982-84 dollar is 48 cents; a 1967 dollar, 16 cents.
Initial Claims 11/10 +20K at 339K vs prior 319K Full Report
Inside the number: prior revised up 2K. 4 week MA FLAT at 330K. Continuing unemployment -7K at 2.568M; 4 week MA +11K at 2.562M. Go to the report and see the bleed in states increasing +1K.
NY Empire State Index Nov 27.4 vs prior 28.8 Full Report
Inside the number: Layoffs and Hiring Freeze, employment fell sharply from 20.5 to 10.6, hours worked plunged to 4.76 vs 23.3
Margin squeeze, prices paid rose markedly, to 42.9 from 36. Prices received edging down to 11.9 from 15.1
Future indexes deteriorated noticeably as the outlook becomes less favorable.
General conditions eroding 30.5 vs 50.5. New orders falling 33.5 vs 47.5; shipments declining 34 vs 51.
Prices paid continued to advance 59.5 vs 50; employment shrinking 24.5 vs 37.6
capital expenditures plunging 27.9 to 19.1, technology spending dipped 19.7 to 11.9.
Philadelphia Fed Nov 8.2 vs prior 6.8 Full Report
Inside the number: employment falling notably 12.6 to 4.8, continued rise in prices for inputs.
Manufacturing executives were substantially less optimistic about future activity than they were in October with some firms cutting back on Q4 production plans.
Futures: General Activity 11.6 vs 41.5; New Orders 20.5 vs 43.5; Prices Received 27.1 vs 38.1; Employment 13.6 vs 26.9; CapEx 7.1 vs 20.5
Today's CPI forces cutbacks in our childrens eating, drinking, and being Mary. Non durables less energy show double digit stagflation.
Initial claims shows continuing unemployment balloning with the bleed continuing into sectors outside housing.
NY Empire Index and Philly Fed confirm a slowing and less favorable outlook for commerce and cap ex.
CPI Oct +0.3% vs prior +0.3% Full Report
Inside the number: Core CPI Oct +0.2% vs prior +0.2%. Since Oct 2006: Non durables less food & energy +10.1%. Non durables less food, beverages and apparel +10.7%.
3 months ended Oct...
Nudist Mary... Infants apparel +11.9%; Sore nipples... Dairy +12.3%; No sicko... Hospital services +10.2%; No school... Educational Books & Supplies +8.1%
The purchasing power of a 1982-84 dollar is 48 cents; a 1967 dollar, 16 cents.
Initial Claims 11/10 +20K at 339K vs prior 319K Full Report
Inside the number: prior revised up 2K. 4 week MA FLAT at 330K. Continuing unemployment -7K at 2.568M; 4 week MA +11K at 2.562M. Go to the report and see the bleed in states increasing +1K.
NY Empire State Index Nov 27.4 vs prior 28.8 Full Report
Inside the number: Layoffs and Hiring Freeze, employment fell sharply from 20.5 to 10.6, hours worked plunged to 4.76 vs 23.3
Margin squeeze, prices paid rose markedly, to 42.9 from 36. Prices received edging down to 11.9 from 15.1
Future indexes deteriorated noticeably as the outlook becomes less favorable.
General conditions eroding 30.5 vs 50.5. New orders falling 33.5 vs 47.5; shipments declining 34 vs 51.
Prices paid continued to advance 59.5 vs 50; employment shrinking 24.5 vs 37.6
capital expenditures plunging 27.9 to 19.1, technology spending dipped 19.7 to 11.9.
Philadelphia Fed Nov 8.2 vs prior 6.8 Full Report
Inside the number: employment falling notably 12.6 to 4.8, continued rise in prices for inputs.
Manufacturing executives were substantially less optimistic about future activity than they were in October with some firms cutting back on Q4 production plans.
Futures: General Activity 11.6 vs 41.5; New Orders 20.5 vs 43.5; Prices Received 27.1 vs 38.1; Employment 13.6 vs 26.9; CapEx 7.1 vs 20.5
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