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Week 23 -2012 | From June 04 to June 08, 2012 |
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Economic Data for Week 23-2012 | Global View | Week Rating
| DATE |
DAY |
REPORT/CATEGORY |
HIGHLIGHTS ON WEEK 23-2012 |
LAST |
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Mon |
Factory Orders |
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N/A |
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Manufacturing |
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Tue |
ICSC Goldman Sachs Index |
Cooler weather pulled consumers from outside back inside during the June 2 week. The ICCS index rose 0.4% for the first weekly gain since April 21. |
0.4% W/W |
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Sales and Inventories |
ICSC-Goldman reports strength in the week at apparel stores and weakness at discounters. The year-on-year rate, however, remains soft at plus 2.8%. |
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Tue |
Johnson Redbook |
Same-store year-on-year sales were up an in-trend 3.1% in the June 2 week, according to Redbook which cites strength tied to Memorial Day promotions. |
3.1% Y/Y |
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Sales and Inventories |
The report sees strength for June, forecasting a 1.1% month-on-month rise which points to strength for the government's ex-auto ex-gas category in June. |
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Thu |
ISM Non-Mfg Index |
The index ISM uses to measure non-manufacturing growth�known as the NMI�was 53.7 in May, which was 0.2% better than April and down 2.3% from March�s 56.0 and down 3.6% from February�s 57.3, which was the highest NMI reading since January 2011 |
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Sales and Inventories |
ISM Non-manufacturing index shows growth in May. With the May NMI remaining above 50, economic activity in the non-manufacturing sector has grown for the last 29 months, according to ISM. |
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Wed |
MBA purchase Applications |
Home sales picked up steam in April but look flat for May. The purchase index fell 1.8% in the June 1 week and is back at its lowest level since mid-April. |
1.3% W/W |
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Real Estate |
Low rates are a plus for purchase demand and are definitely stimulating refinancing activity. The refinance index rose 2.0% in the week and is at its highest level since February. |
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Wed |
ADP Employment Report |
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N/A |
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Employment |
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Wed |
Industrial Production |
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N/A |
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Business Actvity |
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Wed |
EIA Crude Oil Report |
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N/A |
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Commodity |
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Wed |
Beige Book 4 |
Beige Book prepared for the June 19-20 FOMC meeting found that overall economic activity expanded at a "moderate" pace during the period from early April to late May. |
N/A |
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Interest Rates |
Consumer spending was unchanged or up modestly. The recovery continues at a moderate pace and the anecdotal evidence is a little more positive than some recent indicator news. |
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Thu |
Jobless/Initial Claims |
The initial jobless claims fell 12,000 to a slightly better-than-expected level of 377,000. Despite the decline, the four-week average is up for a second straight week. |
377,000 |
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Employment |
The average, at 377,750 for a 1,750 rise, is no lower than it was a month ago.Another offset is a rise for continuing claims, up a sizable 34,000 in data for the May 26 week to 3.293 million. |
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Thu |
Productivy and Costs |
Nonfarm business productivity declined an annualized 0.9% in the first quarter, compared to the initial estimate of a 0.5% dip and compared to a 1.2% rise in the prior quarter. |
-0.90% |
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Business Activity |
Unit labor costs were revised down notably to an annualized 1.3% increase versus the first estimate of 2.0%, and following a 1.5% decrease in the fourth quarter, (on lower estimates for compensation). |
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Thu |
ISM Non-Mfg Index |
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N/A |
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Business Activity |
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Thu |
EIA Natural Gas Report |
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N/A |
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Commodity |
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Tue |
Consumer Credit |
Student loans are once again behind a rise in consumer credit which is up $6.5 billion in the April report. The series includes benchmark revisions and a sizable $9 billion downward revision to March where credit still rose a very sharp $12.4 billion. |
$6.5B M/M |
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Consumer |
The Federal government component of this report continues to post large gains as demand for student loans is very strong. For indications on the consumer, the April report shows softness with non-revolving credit down $3.4 billion. |
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Thu |
Fed Balance Sheet |
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N/A |
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Government |
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Thu |
M2 Money Supply |
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N/A |
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Money Supply |
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Fri |
Fixed Mortgage Rates |
The 30-year fixed-rate mortgage dropped to an average of 3.67% in the week ended June 7, Freddie Mac said Thursday. |
3.67%
APR
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Interest Rates |
The average rate for 15-year mortgage -- which is popular for refinancing -- dropped to 2.94%. That's compared to 2.97% in the prior week, and the year-ago average rate of 3.68%. |
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Fri |
U.S. Trade Balance |
The trade balance in April improved but on a drop in imports. In April, the U.S. trade gap shrank to $50.1 billion from $52.6 billion in March (originally $51.8.0 billion). |
$-50.1B |
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Balance of Payments |
The consensus projected a deficit of $49.3 billion. Exports dipped 0.8% after a 2.5% boost in March. Imports fell 1.7% after a 5.2% jump the prior month. |
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Wed |
Wholesale Trade |
Wholesale inventories rose an in-trend 0.6% in April, well below a 1.1% jump in sales at the wholesale level. The smaller rise in inventories wasn't enough to bring the stock-to-sales ratio down, at least to two decimal places. The ratio is steady for a seventh straight month at a lean 1.17. |
0.6% |
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Sales and Inventories |
With the risk that economic growth may be slowing, the management of inventories, that is keeping them lean to avoid overhang, takes on special importance. Factory inventories, data already released, show no change for April. |
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| WEEK 15-2012 ENDING JUN. 08 |
Reports Commentary
Factory orders fell in January in the typical pattern of declines in the first month of the quarter. Nevertheless, new orders have been on a rising trend since March 2009 although they remain below their pre-recession peak..
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| MARKET PROFILE |
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WEEKS 2012 |
WEEK 23 |
% FROM CLOSE |
% FROM OPEN |
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RESISTANCE 1 |
1,330.25 |
1.39% |
1.35% |
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RESISTANCE 2 |
1,326.25 |
1.08% |
1.04% |
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CLOSE MAR 02 |
1,350.00 |
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OPEN MAR 04 |
1,255.00 |
0.04% |
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SUPPORT 1 |
1,289.00 |
0.66% |
0.62% |
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SUPPORT 2 |
1,283.50 |
0.08% |
0.04% |
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