Economic Data for Week 13-2013 | Global View
| Week Rating
| DATE |
DAY |
REPORT/CATEGORY |
HIGHLIGHTS ON WEEK 13-2013 |
LAST |
|
Mon |
Chicago Fed Nat Activity Index |
The economy strengthened marginally in January 2013 with the Chicago Fed National Activity Index (CFNAI) 3 month moving (3MA) average rising to the highest level since January 2012. |
0.44
Level
|
|
 |
Growth |
The 3MA has been in positive territory (for the last 3 months) indicating national economic activity was above its historical trend, but above the levels associated with recessions. |
|
|
Tue |
ICSC Goldman Sachs Index |
U.S. store sales slumped last week as cold weather kept many shoppers inside their homes. The average temperature was a whopping 15 degrees cooler than the same week last year. |
1.0%
Y/Y
|
|
 |
Sales and Inventories |
The ICSC-Goldman store sales index sunk to year over year gains of only +1.0% from +2.3% the week prior. This is the slowest this metric has been since February of 2010. |
|
|
Tue |
Durable Goods Orders |
The U.S. Census Bureau reports that new orders for durable goods increased 5.7%, or $12.4 billion, in February 2013 to a seasonally adjusted $232.1 billion. |
N/A |
|
 |
Manufacturing |
Durable goods orders are up 5 of the last 6 months, with January's -4.0% change being the trend-breaker. February US Durables Soar, Bolstered by Transportation. |
|
|
Tue |
Johnson Redbook |
The Redbook store sales index is now only +2.6% year over year compared to +2.9% Y/Y the week prior. |
2.6%
Y/Y
|
|
 |
Sales and Inventories |
The descriptions of the week are entirely different with ICSC-Goldman warning that cold weather hurt sales of spring goods while Redbook says consumers, anticipating better weather. |
|
|
Tue |
S&P Case-Shiller Index |
Home prices climbed to a six-year high. The S&P/Case-Shiller 20-city composite index edged up 0.1% to take the year-on-year gain to 8.1%. |
1.0%
M/M
|
|
 |
Real Estate |
U.S. home prices edged up in January 2013 to make the year-on-year improvement the fastest in more than six years, according to data released Tuesday. |
|
|
Tue |
New Home Sales |
The Commerce Department said on Tuesday sales dropped 4.6% to a seasonally adjusted annual rate of 411,000 units. Last month's decline followed a 13.1% jump in January 2013. |
411K |
|
 |
Real Estate |
Sales of new U.S. single-family homes fell more than expected in February 2013 after hefty gains the previous month, but steady gains in home prices suggested the housing market recovery remains intact. |
|
|
Tue |
Consumer Confidence |
Consumer confidence plunged in March 2013, slumping to a reading of 59.7 in March 2013 from 68.0 in February 2013, the Conference Board reported Tuesday. |
59.7
Level
|
|
 |
Consumer |
Most of the drop came from a decline in the expectations index, which slumped to 60.9 from 72.4, though the present situation index also fell, to 57.9 from 61.4. The Conference Board said the sequester has created uncertainty surrounding the economic outlook |
|
|
Wed |
MBA purchase Applications |
The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, rose 7.7% in the week ended March 22, 2013. |
7.7%
W/W
|
|
 |
Real Estate |
Applications for U.S. home mortgages rebounded last week as interest rates pulled back for the first time in three weeks, data from an industry group showed on Wednesday. |
|
|
Wed |
Pending Home Sales Index |
Pending sales of homes declined 0.4% in February 2013, while longer-term trends showed continuing growth, the National Association of Realtors reported Wednesday. |
0.4%
M/M
|
|
 |
Real Estate |
The pending-home-sales index decreased to 104.8 in February 2013 from 105.2 in January 2013, but was up more than 8% from 96.6 in February 2012. An index reading of 100 equals the average level of contract activity during 2001, the first year of data. |
|
|
Wed |
EIA Crude Oil |
U.S. crude oil inventories rose more-than-expected last month, official data showed on Wednesday. Analysts had expected U.S. Crude Oil Inventories to rise 0.705M last month. |
3.3M
Barrels
|
|
 |
Commodity |
The Energy Information Administration (EIA) said that U.S. Crude Oil Inventories rose to a seasonally adjusted annual rate of 3.256M, from -1.314M in the preceding month |
|
|
Thu |
Jobless/Initial Claims |
Initial claims for state unemployment benefits increased 16,000 to a seasonally adjusted 357,000, the Labor Department said. Still, they remained in the middle of their range for this year. |
357K
Claims
|
|
 |
Employment |
The number of Americans filing new claims for unemployment benefits rose more than expected last week, but probably not enough to suggest the labor market recovery was taking a step back. |
|
|
Thu |
Gross Domestic Product (GDP) |
GDP expanded at a 0.4% annual rate in Q4-2012, the Commerce Department said, just below the 0.5% gain forecast. The growth rate was the slowest since the first quarter of 2011 and far from what is needed to fuel a faster drop in the unemployment rate. |
0.4%
Q/Q
|
|
 |
Growth |
The U.S. economy expanded at a sluggish pace in the fourth quarter although a big gain in business investment and higher exports of services led the government to push up its previous estimate for growth. Conclusion: U.S. growth at year end better than thought. |
|
|
Thu |
Corporate Profits |
The U.S. economy's performance in the fourth quarter was not quite as bad as it first appeared, it turns out. And corporate profits rose in 2012 to an all-time high. |
13.3%
Y/Y
|
|
 |
Growth |
After-tax corporate profits climbed 3.3% in the fourth quarter and 3.7% for all of 2012, adjusted for inventories and other special accounting effects. The level of adjusted corporate profits the highest ever are now 41% larger compared to the year before the last recession began. That could lead to more business spending later in the year. |
|
|
Tue |
Chicago PMI |
The Chicago Institute for Supply Management's purchasing managers' index veered downward, falling 4.4 points to 52.4 in March 2013. |
52.4
Level
|
|
 |
Manufacturing |
After a strong start to the year, the business barometer was knocked back by steep declines in new orders, production, and another dip in order backlogs. All other business activity measures also declined in March 2013, the exception being supplier lead times, which lengthened considerably. |
|
|
Thu |
EIA Natural Gas Report |
Working gas in storage was 1,781 Bcf as of Thursday, March 28, 2013, according to EIA estimates. This represents a net decline of 95 Bcf from the previous week. |
-95
bcf |
|
 |
Commodity |
The U.S. Energy Information Administration said in its weekly report that natural gas storage in the U.S. in the week ended March 15 fell by 95 billion cubic feet, compared to -62 bcf last week. |
|
|
Thu |
Fed Balance Sheet |
The Fed's asset holdings in the week ended Wednesday Mar 28 decreased $4.6 billions from a gain of $41.5 billions the prior week, the central bank said in a weekly report released Thursday. |
$-4.6
Billions |
|
 |
Government |
The U.S. Federal Reserve's balance sheet exceeded $3 trillion, (Total Assets = $3.204 trillion), as the central bank continued with its efforts to spur the economy through bond purchases. |
|
|
Thu |
M2 Money Supply |
M2 Weekly Change $16.7 Billions from last week $1.9B revised. |
$1.8
Billions |
|
 |
Money Supply |
M2 included M1 and, in addition, short-term time deposits in banks and certain money market funds. In general, an increase in the supply of money typically lowers interest rates. |
|
|
Fri |
Fixed Mortgage Rates |
As of February 28, 2013, interest rates for a 30-year fixed-rate mortgage were at 3.51%, according to Freddie Mac. The lowest they've hit historically was 3.38% in December 2012.
|
3.51% |
|
 |
Interest Rates |
The 15-year FRM, a popular choice for those looking to refinance, up to 2.76% from 2.72% in the previous week. |
|
|
Fri |
Personal Income |
Personal income increased $143.2 billion, or 1.1%, and disposable personal income (DPI)
increased $127.8 billion, or 1.1%, in February 2013. |
1.1%
M/M
|
|
 |
Consumer |
In February 2013 Personal income fell as expected in January 2013 due to fiscal cliff effects but fell more than expected. However, consumer spending held up. |
|
|
Fri |
Consumer Spending Real PCE |
Personal consumption expenditures (PCE) increased $77.2 billion, or 0.7%. In January 2013, personal income decreased $513.5 billion, or 3.7%, DPI decreased $498.3 billion, or 4.0%, and PCE increased $40.8 billion, or 0.4%, based on revised estimates |
0.7%
M/M
|
|
 |
Consumer |
Consumers increased spending 0.7% in February 2013 compared with January 2013. It was the biggest gain in five months. The government also revised January 2013 spending to show a 0.4% gain, double the initial estimate. |
|
|
Fri |
Core PCE |
The core PCE was up 1.3%, following 1.4% the month before. The strong spending gains prompted some economists to boost their outlook for overall economic growth in the January-March 2013 quarter. |
0.1%
M/M
|
|
 |
Inflation |
Some think the economy grew at a 3% annual rate during the quarter, up significantly from 0.4% rate in the October-December 2012 quarter. |
|
|
Fri |
Consumer Sentiment |
The Thomson Reuters/University of Michigan sentiment index advanced to a four-month high of 78.6, exceeding all estimates in a Bloomberg survey, from 77.6 in February 2013. The median forecast was 72.6 after a preliminary March 2013 reading of 71.8. |
78.6
Level
|
|
 |
Consumer |
Confidence among U.S. consumers unexpectedly increased in March 2013 from the prior month as Americans grew more optimistic about the outlook for the economy. |
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