Economic Reports 10/05/09
ADP Employment September
Recovery? What recovery? -254K; small -100K; mid -93K; large -61K; goods -151K; services -103K; manufacturing -74K; construction -73K
The 32nd consecutive monthly decline, bringing the total decline in construction jobs since the peak in January 2007 to 1,632,000.
S&P Case Schiller Home Price Index July
Comp 10 +1.7%; Yoy -12.8%; Comp 20 +1.6%; Yoy -13.3%. With the exception of Las Vegas, all metro areas show gains or at least flat conditions.
Personal Income & Spending August
Income +0.2%; Yoy -2.6%; Spending +1.3%; Yoy -0.3%; Core Price +0.1%. strength was in durables, which jumped 5.3% on sharply higher motor vehicle sales.
Nondurables were robust also with a 2.3% boost while services advanced 0.4%.
ISM September
52.6 vs 52.9; New orders slowed but still remain very strong, at 60.8 vs. 64.9. Production also slowed, down more than 6 points to 55.7
Inventories gave the index a big boost, up more than 8 points to 42.5 to indicate that manufacturers are slowing their draws.
Construction Spending August
+0.8% vs -0.2%; YoY -11.6%; Residential +4.2%; Yoy -26%; Private SFR +4.5%; Yoy -39.6%
GDP Q2:09
-0.7%; vs -1%; Price index flat; The upward revision for this 3rd revision was primarily due to higher estimates for business spending on software and nonresidential construction.
However, Year-on-year, real GDP - 3.8% vs -3.3% in Q1. After tax corporate profits Yoy -19.2%.
Initial Jobless Claims 09/26
+17K at 551K; 4 week MA -6.25K at 548K; Continuing claims -70K at 6.090M; 4 week MA -39.25K at 6.154M. See states with an increase of more than 1K for the carnage.
Chicago PMI September
Proving the last few months a blip, declining to 46.1 vs 50; new orders -6 to 46.3 and production -6 to 47.2.
Deliveries moved more quickly confirming the weakness while backlogs contracted more steeply.
The best news in the report is that job losses are severe but no worse while the pace of inventory destocking slowed.
Factory Orders August
-0.8% vs +1.3% again showing the last few months to be a high fivin blip. durable goods, down 2.6%.
Non-durable goods make their appearance with this report, up 0.8 percent and reflecting higher prices for oil & coal.
Most categories outside of transportation also show month-to-month weakness.
Capital goods readings fell back from big gains in July and point to trouble for export data as factory shipments fell 0.3% vs. a 0.3% rise in July.
Non Farms Payrolls September
Recovery? What recovery? -263K vs -216K; Unemployment 9.8% vs 9.7%.
Goods-producing -116K, construction – 64K, manufacturing -51K. Service providing surged back to -147K.
Recovery? What recovery? -254K; small -100K; mid -93K; large -61K; goods -151K; services -103K; manufacturing -74K; construction -73K
The 32nd consecutive monthly decline, bringing the total decline in construction jobs since the peak in January 2007 to 1,632,000.
S&P Case Schiller Home Price Index July
Comp 10 +1.7%; Yoy -12.8%; Comp 20 +1.6%; Yoy -13.3%. With the exception of Las Vegas, all metro areas show gains or at least flat conditions.
Personal Income & Spending August
Income +0.2%; Yoy -2.6%; Spending +1.3%; Yoy -0.3%; Core Price +0.1%. strength was in durables, which jumped 5.3% on sharply higher motor vehicle sales.
Nondurables were robust also with a 2.3% boost while services advanced 0.4%.
ISM September
52.6 vs 52.9; New orders slowed but still remain very strong, at 60.8 vs. 64.9. Production also slowed, down more than 6 points to 55.7
Inventories gave the index a big boost, up more than 8 points to 42.5 to indicate that manufacturers are slowing their draws.
Construction Spending August
+0.8% vs -0.2%; YoY -11.6%; Residential +4.2%; Yoy -26%; Private SFR +4.5%; Yoy -39.6%
GDP Q2:09
-0.7%; vs -1%; Price index flat; The upward revision for this 3rd revision was primarily due to higher estimates for business spending on software and nonresidential construction.
However, Year-on-year, real GDP - 3.8% vs -3.3% in Q1. After tax corporate profits Yoy -19.2%.
Initial Jobless Claims 09/26
+17K at 551K; 4 week MA -6.25K at 548K; Continuing claims -70K at 6.090M; 4 week MA -39.25K at 6.154M. See states with an increase of more than 1K for the carnage.
Chicago PMI September
Proving the last few months a blip, declining to 46.1 vs 50; new orders -6 to 46.3 and production -6 to 47.2.
Deliveries moved more quickly confirming the weakness while backlogs contracted more steeply.
The best news in the report is that job losses are severe but no worse while the pace of inventory destocking slowed.
Factory Orders August
-0.8% vs +1.3% again showing the last few months to be a high fivin blip. durable goods, down 2.6%.
Non-durable goods make their appearance with this report, up 0.8 percent and reflecting higher prices for oil & coal.
Most categories outside of transportation also show month-to-month weakness.
Capital goods readings fell back from big gains in July and point to trouble for export data as factory shipments fell 0.3% vs. a 0.3% rise in July.
Non Farms Payrolls September
Recovery? What recovery? -263K vs -216K; Unemployment 9.8% vs 9.7%.
Goods-producing -116K, construction – 64K, manufacturing -51K. Service providing surged back to -147K.
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