Posted on 11/25/2016 1:55:21 AM PST by expat_panama
October durable goods orders shot up far more than expected, suggesting strength in manufacturing. Meanwhile, jobless claims rose but remain at longtime lows.
Orders for long-lasting manufactured goods rose 4.8%, the biggest increase in a year. Bookings climbed 1% excluding volatile transportation items.
Economists had expected a 1.5% rise in durable goods orders, with a 0.2% rise excluding transportation items.
Meanwhile, September's slight decline was revised to up 0.4%.
Core capital goods orders, a proxy for business investment plans, climbed 0.4%... [snip]
(Excerpt) Read more at investors.com ...
| Statistic | For | Actual | Briefing Forecast | Market Expects | Prior | Revised From |
| Existing Home Sales | Oct | 5.60M | 5.38M | 5.40M | 5.49M | 5.47M |
| MBA Mortgage Index | 19-Nov | 5.50% | NA | NA | -9.20% | - |
| Initial Claims | 19-Nov | 251K | 245K | 243K | 233K | 235K |
| Continuing Claims | 12-Nov | 2043K | NA | NA | 1977K | - |
| Durable Orders, Ex-Transportation | Oct | - | NA | NA | 0.20% | - |
| Durable Orders | Oct | 4.80% | 2.20% | 1.10% | 0.40% | -0.10% |
| FHFA Housing Price Index | Sep | 0.60% | NA | NA | 0.70% | - |
| New Home Sales | Oct | 563K | 580K | 587K | 574K | 593K |
| Michigan Sentiment - Final | Nov | 93.8 | 91.8 | 91.6 | 91.6 | - |
| Crude Inventories | 19-Nov | -1.255M | NA | NA | 5.274M | - |
| Natural Gas Inventories | 19-Nov | - | NA | NA | 30 bcf | - |
| Natural Gas Inventories | 19-Nov | -2 bcf |
Click the link if the data come out garbled; bottom line is that we got lots of good news and it looks like a Dec. rate hike's on the way:
This is not possible. We were told by our betters that a Trump win would crater the world’s financial systems.
Paul Krugman: The Economic Fallout
2016-11-09T00:42:44-05:00 12:42 AM ET
It really does now look like President Donald J. Trump, and markets are plunging. When might we expect them to recover?
snip
So we are very probably looking at a global recession, with no end in sight. I suppose we could get lucky somehow. But on economics, as on everything else, a terrible thing has just happened.
Somewhere it said that Krugboy recanted his doom’n’gloom, tho I haven’t seen it personally...
http://www.wsj.com/articles/retailers-push-early-start-to-black-friday-sales-1479992401
Retailers Push Early Start to Black Friday Sales
By Suzanne Kapner
Updated Nov. 24, 2016 9:21 p.m. ET
Shoppers spent $27.2 billion between Nov. 1 and Nov. 23, a 4.3% increase over a year ago during that same time frame, according to Adobe Systems Inc., which analyzed data from 21 billion visits to retail websites. Adobe predicted that online spending on Thanksgiving Day would reach $2 billion, up 16% from a year ago.
snip
The National Retail Federation forecasts total holiday shopping will rise 3.6% to $655.8 billion from a year ago with 137.4 million people shopping in stores and online during Thanksgiving weekend alone.
In what some analysts have dubbed the “Trump Bump,” they are hopeful that President-elect Donald Trump will stimulate the economy and lower taxes, which means “a large segment of the population that was previously reluctant to spend,” wrote Citi analyst Paul Lejuez, in a research note, “now feels better.”
Thursday on Twitter, Krugman posted a peripherally-related walkback:
Having some second thoughts about my global recession call. As with Brexit, the short-run case isn’t that clear. Still a disaster.
I haven’t been able to find any evidence that Krugman has had any “second thoughts” about his “the markets will never recover” prediction. The guess here is that he’ll pretend that he never wrote it — or if he gets called on it, that he amended his thoughts, but felt no need to revise his posted prediction.
How reliable is this data? Is it being released to justify a rate hike which would cause the markets to tank (at least temporarily) and complicate President Trump’s plans?
The past 7.87 years the world’s economy reacted bearishly towards an America run like an African potentate by a goof and his party of criminals.
That the economic engines of the world have become energized so dramatically with only the election of a new sheriff, speaks well of the selection.
God Bless The Trumps and Bless America!
I have a feeling that suddenly 4.8% unemployment and 1% growth will be a bad thing in the media..
How reliable is this data?
In my opinion this data is completely Unreliable as is almost all of what we see and hear from this administration. They simply manufacture data to fit their agenda.
These gov't numbers are fairly transparent on the most part and can be verified ourselves elsewhere. It's about as reliable as we can make it --that's the good news. The bad news is that everything we can see can change in a heartbeat the opposite direction. mho is clowns like shadowstats w/ their secret formulas are selling bogus numbers to the gullible.
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