STAND BACK ! - Watch this bounce !!!!
Posted on 11/12/2011 10:52:24 AM PST by blam
The Latest Economic Indicators Confirm: The Economic Rebound Remains Intact
New Deal democrat, The Bonddad Blog
Nov. 12, 2011, 10:17 AM
It was a sparse week for significant monthly data. Consumer sentiment, both as to the present and the future, returned to their pre debt debacle levels as measured by the University of Michigan. Gallup's daily survey has shown some improvement but not nearly back to pre-July levels. Meanwhile, both import and export prices declined significantly, suggesting that inflation may be beginning to recede.
Asice from Oil, the high frequency weekly indicators generally had another positive week, although housing was a little soft and money supply receded.
Starting with jobs, the BLS reported that Initial jobless claims fell 7,000 to 390,000. Only 3 weeks in the last 3 years have been lower. The four week average declined to 400,000. The four week average remains close to its best reading in over 3 years.
The American Staffing Association Index remained at 91 last week. In the last couple of months, this series has resumed a slight upward trajectory, but remains lower YoY.
Tax withholding was up slightly YoY. Adjusting +1.07% due to the 2011 tax compromise, the Daily Treasury Statement showed that for the last 20 days through November 9, $132.9 B was collected vs. $130.2 a year ago, a gain of $2.7 B or 2.0%.
Housing indicators declined slightly. The Mortgage Bankers' Association reported that seasonally adjusted purchase mortgage applications increased 4.8% last week. On a YoY basis, purchase applications were down -2.5%. Despite the decline, this remains back in the range that purchases mortgage applications have had been in for the 15 months before September. Refinancing rose 12.1% w/w. Refinancing has been very volatile and affected by small changes in interest rates.
(snip)
(Excerpt) Read more at businessinsider.com ...
” New Deal democrat, The Bonddad Blog “
We can’t be out of money - we still have paper and ink!!
Someone on Zero Hedge has a slightly different take. Most numbers imply a rebound, but one isn’t taking place. Particularly is housing.
Http://confoundedinterest.wordpress.com
Cool charts!
I can’t see the charts...there seems to be an elephant in the middle of the room.
Nothing but high cotton from here on!
STAND BACK ! - Watch this bounce !!!!
Sure not to last into first and second quarter next year, then the rich will get more blame for hoarding their money, easily predictable.
My business is selling into basic chemicals... our sales continue to be quite strong. Although, the past few weeks have been showing some signs of global slowdown.
This has been a strange week for me: At the same time, I’ve become personlly convinced that US business is indeed, recovering. But, at the same time, I’ve become convinced that the euro will not survive.
Hard to see a euro breakup not causing problems here.... and, any recovery we have is on such a weak foundation, well... it CAN’T be good.
Whoever wrote this is dumber than a rock and not near as useful.
Since we know that the Fed has pumped out multiple trillions in the last couple of years, and the the national on-budget debt has increased by around 5 trillion, any recovery that might be reflected in the numbers must be a result of profligate government spending. The fact that, with interest rates so low, and government spending at cosmic levels, the recovery is so weak is truly an ominous sign, particularly when coupled with the Euro crisis.
Hmmmmm, I never got the word we were out of the last recession. Now we are on to recovery out of this one? There must be an election coming up.
Yes. Government expansion Government connected expansion.
Expansion in oil/gasoline prices and essentials.
Uh, that’s not what my broker told me.
You must have one of those doom-gloomer, fear-mongering brokers.
Happy days are here again, vote for Obama.
Hundreds of years into this recovery, people will be huddling around the campfires at night, telling the youngsters about how terrible everything used to be before the communists and muslims took over.
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