Economics
This Week’s Data
August
US light vehicle sales rose 2.6%---a good showing.
The
International Council of Shopping Centers
reported weekly sales of major retailers down 0.6% versus the prior week
but up 1.8% versus the comparable period a year ago: Redbook Research reported
month to date retail chain store sales up 0.6% versus the similar timeframe
last month and up 4.7% on a year over year basis.
The
July US trade deficit of $39.1 billion was slightly above estimates of $39.0 billion.
The
latest Fed Beige Book report sounded much like its immediate predecessor---the
economy growing at a modest to moderate pace.
The
August ADP private payroll report indicated
a rise on 176,000 jobs versus expectations of an increase of 177,000.
Weekly
jobless claims fell 9,000 versus forecasts of a drop of 1,000.
Second
quarter nonfarm productivity climbed 2.3% versus estimates of up 1.8%; unit
labor costs were flat versus an anticipated up 0.7%.
Other
Macro markets
risk index (short):
The
argument for QE4. The problem I have
with this article is that author acknowledges that the QE’s have done little to
improve the economy, yet argues that because the economy may weaken, it is
necessary. (medium):
Problems
are starting to occur again in Europe (medium):
Will
third quarter economic activity be weaker than expected (medium):
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