Economic Data for Week 31-2012 | Global View | Week Rating
| DATE |
DAY |
REPORT/CATEGORY |
HIGHLIGHTS ON WEEK 31-2012 |
LAST |
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Mon |
Non Reports for Our Global Vision |
There will be no Economic Reports released on Monday. |
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 |
No Reports |
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Tue |
FOMC Meeting #5 Day 1 of 2 |
Sluggish economic growth could compel the Federal Reserve to announce further efforts to bolster the economy. Fed officials meet Tuesday and Wednesday. |
N/A |
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 |
Interest Rates |
Many private economists believe the Fed will wait until their Sept. 12-13 meeting. That would allow the Fed more time to review the July and August jobs reports before taking new steps. |
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Tue |
ICSC Goldman Sachs Index |
Week 28-July ICSC tumbled by 1.7%. Customer traffic at stores slowed appreciably for the week across all retail segments, according to the ICSC-GS consumer tracking survey. |
-1.7% |
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Sales and Inventories |
On a year-over-year basis, sales also moderated to1.8% following the strongest year-over-year reading in the prior week since June 16. |
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Tue |
Personal Income |
Americans spent no more in June than they did in May, even though their income grew at the fastest pace in three months. |
0.5% |
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Consumer |
Personal Income rose 0.5%, and wages, the largest component of income, also increased 0.5%, the biggest gain since March. |
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Tue |
Real PCE |
The Commerce Department said Tuesday that consumer spending was flat in June after declining 0.1% in May. Personal Income Rose in June and Consumer Spending Flat. |
0.1% |
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Consumer |
The jump in income went straight to savings. The savings rate rose to 4.4% in June, the highest level in a year. |
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Tue |
Core PCE |
U.S. consumers reduced spending for the second straight month despite a sharp increase in wages, boosting their savings rate to the highest level in a year. |
0.2% |
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Inflation |
Inflation, meanwhile, remained tame. An inflation index linked to consumer spending that excludes food and gas rose 0.2% last month, but it was unchanged at 1.8% over the past 12 months. |
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Tue |
Employment Cost Index |
The employment cost index rose 0.5% for all civilian workers in Q2-2012, slightly more than the 0.4% increase in the first quarter. Employment cost index up 0.5% in second quarter. This is the slowest annual increase in benefits since the fourth quarter of 2009. |
0.5% |
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Employment |
The increase in the employment cost index was in line with expectations of Wall Street economists. In the second quarter, wages - which account for 70% of employment costs - increased 0.4%, while benefits increased 0.6% |
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Tue |
Johnson Redbook |
National chain store sales fell 1.4% in the first four weeks of July from June, according to Redbook Research's latest indicator, released Tuesday.The index's fall compared with a targeted 1.2% decline. |
0.9% |
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Sales and Inventories |
The Johnson Redbook Index also showed seasonally adjusted sales for the period were up 1.6% from last year, compared with a 1.8% targeted gain. |
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Tue |
S&P Case-Shiller Index |
The S&P/Case-Shiller composite index of 20 metropolitan areas gained 0.9% in May on a seasonally adjusted basis, topping economists' expectations for a 0.5% gain. |
0.9% |
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Real Estate |
U.S. single-family home prices rose for the fourth month in a row in May on a seasonally adjusted basis, suggesting the recovery in the housing market continued to gain traction. |
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Tue |
Chicago PMI |
The Chicago PMI rose to 53.7% in July from 52.9% in June, breaking a run of three straight drops as order backlogs improved. July Chicago PMI up at stronger-than-forecast 53.7%, snapping 3 months of declines |
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Manufacturing |
The order backlog index surged 10.6 points to 52.8%, though production fell 2.5 points to 54.5% and employment skidded 7.1 points to 53.3%. July Chicago PMI up at stronger-than-forecast 53.7%, snapping 3 months of declines |
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Tue |
Consumer Confidence |
U.S. consumer confidence rose in July after four months of declines, as a brighter outlook for short-term hiring offset longer-term worries about the economy. |
65.9
Level
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Consumer |
The Conference Board says its Consumer Confidence Index increased to 65.9, from 62.7 in June. That's the highest reading since April and better than the reading of 62 that economists had forecast. |
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Wed |
MBA purchase Applications |
Applications for U.S. home mortgages rose last week as demand for refinancing edged up, though demand for mortgages for purchases dropped, an industry group said on Wednesday. |
0.2% W/W |
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Real Estate |
The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, rose 0.2% in the week ended July 27. |
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Wed |
Motor Vehicle Sales |
The SAAR for the month was 14.1 million.��Through six months, industry sales have climbed 14.9% over last year’s first half. |
14.1 M |
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Sales and Inventories |
The U.S. auto industry remain the same in July to a 14.1 million annual rate vs June's 14.1 million. All categories edged lower but again the decrease is minimal.� |
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Wed |
ADP Employment Report |
Private-sector employment increased by 163,000 from June to July on a seasonally adjusted basis, according to the latest ADP National Employment Report(R) released today. |
163,000
Jobs
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Employment |
The estimated gain from May to June was revised down slightly, from the initial estimate of 176,000 to 172,000. ADP Employment report coming in nearly 30% above expectations at 163K jobs added.� |
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pmi |
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Wed |
ISM Manufacturing Index |
ISM manufacturing gauge comes in lower than forecast, essentially flat for July at 49.8%. The key leading indicator for ISM, new orders, fell down to 48.0 which portends poorly for the future. |
49.8 Level |
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Manufacturing |
The index printed at 49.8 for July, higher than June's 49.7 but lower than economist expectations of 50.2. The reading below 50 in July marks the second consecutive month of declines in the index. |
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Wed |
Construction Spending |
The government said construction spending rose 0.4% in June following an upwardly revised 1.6% gain in May, the biggest one-month increase since December. |
0.4% |
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Growth |
US construction spending rose 0.4 pct in June, led by housing construction. Another strong gain in homebuilding pushed U.S. construction spending up in June for a third straight month. |
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Wed |
EIA Crude Oil Report |
U.S. crude oil ended higher Wednesday, after an Energy Information Administration report showed U.S. crude stockpiles to have declined for the week ended July 27, due mainly to lower imports. |
N/A |
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Commodity |
The supply data largely made up for the disappointment at the Federal Reserve policy meeting decision of no further stimulus. |
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Wed |
FOMC Meeting #5 Day 2 of 2 |
The Federal Reserve said the U.S. economic recovery had lost momentum so far this year, but stopped short of offering new monetary stimulus even as it signaled further bond buys could be in store. Fed officials described the economy as having "decelerated somewhat,'' and reiterated their disappointment with the slow pace of progress in bringing down the nation's 8.2% jobless rate. |
0.25% |
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Interest Rates |
The Fed left policy rates unchanged today and the fed funds target rate remains at a range of 0 to 0.25 percent and the Fed stated that rates are expected to remain exceptionally low through 2014. And Operation Twist continues through the end of this year. Little changed except a downgrade to the economy. |
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Thu |
Jobless/Initial Claims |
The number of people who filed applications for unemployment benefits rose by 8,000 last week to a seasonally adjusted 365,000. |
365,000 |
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Employment |
A more stable barometer of labor-market trends, the four-week claims average, dropped 2,750 to 365,500, the lowest level since late March. |
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Thu |
Factory Orders |
Having risen by +0.5% (revised from +0.7%) in June, the monthly change in Factory Orders in July retraced the previous month�s rise by contracting -0.5%. |
-0.5% |
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Manufacturing |
Companies placed fewer orders with U.S. factories in June from May, signaling further weakness with manufacturing. |
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Thu |
EIA Natural Gas Report |
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N/A |
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Commodity |
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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 rate on 30-year fixed mortgages rose to 3.55% from 3.49% last week, Freddie Mac said in its weekly report. Last year at this time, the mortgage rate averaged 4.39%. |
3.55%
APR |
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Interest Rates |
The 15-year fixed-rate mortgage popular among those seeking to refinance also inched slightly higher to 2.83% from 2.80%. Last year, it averaged 3.54%. |
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Fri |
Employment Situation |
Total nonfarm payroll employment rose by 163,000 in July, and the unemployment ratewas essentially unchanged at 8.3%. Employment rose in professional and business services, food services and drinkingplaces, and manufacturing. |
8.3% Rate |
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Employment |
The Bureau of Labor Statistics reports in the employment situation report for July that nonfarm payrolls increased by a better than expected 163k. June�s figure was 80k, so this gain is not insignificant.This is a pretty good print and will be a key factor in the Federal Reserve�s potential future quantitative easing. |
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Fri |
Consumer Sentiment |
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N/A |
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Consumer |
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Fri |
ISM Non-Mfg Index |
The index ISM uses to measure non-manufacturing growth�known as the NMI�was 52.6 in July, up 0.5% from June and down from May�s 53.7. |
52.6 |
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Business Actvity |
A reading above 50 represents growth. And with the June NMI remaining above 50, economic activity in the non-manufacturing sector has grown for the last 31 months, according to ISM. |
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