Great data from from the BLS. The average annual wage in New York’s financial industry more than tripled from 1990 to 2009.Read more ›
Post Tagged with: "economic data"
A breakdown of Friday’s numbers with net loss and gain by key industry.Read more ›
Markets are cautiously optimistic ahead of Greek confidence vote, US payrolls and G20. US private payrolls expected to increase by 125k; Greek headlines still likely to drive price action. G20 unlikely to deliver much in terms of policy solutions; problems require national solutions.Read more ›
Jobs and the lack of them are top of the agenda for policymakers and increasingly groups of protestors gathered in the financial districts of New York, London, and elsewhere. Unemployment in these countries is in danger of reaching 10%. In Germany, however, unemployment is below 7%. Some hail it as a miracle. This column finds a scientific – and far less inspiring – explanation.Read more ›
Market sentiment modestly improves after most Asian stocks fall ; EFSF to delay €3bln bond sale. Greek cabinet endorsed referendum plan overnight; aims to win Friday’s confidence vote. FOMC unlikely to announce further asset purchases, forecast updates; soft PMIs in EMEA.Read more ›
Greece’s decision to hold a referendum weighing on sentiment; global PMIs most softer thus far. EUR/USD has retracted half of its Oct. move in two days; Greek referendum increases disorderly default risk. US ISM manufacturing key report of North American session; Asian trade numbers focus of EMs.Read more ›
50.4 is the lowest number since early 2009, during the depths of the recession. So this number, shades above contraction, is a big deal. In fact, the sub-index for new (export) orders index is contracting, meaning slowing economic growth in the developed economies is now impacting China as well.Read more ›
In terms of business activity, the Chicago ISM highlighted the fact that order backlogs recovered from two months of contraction and that employment was the highest in six months, even while new orders erased half of September’s gain.
As any number above 50 shows expansion, this is generally good report. But the message is mixed because of the continued fall in the three-month moving average.Read more ›
We got two good proxies for the economic trajectory in the US this morning at 830 AM. Jobless claims were 402,000 with the 4-week moving average now settling in at 405,500. GDP rose an annualized 2.5% in the third quarter according to the government’s advanced estimate. In the second quarter, real GDP had risen 1.3%.Read more ›
Fedex is a bellwether stock in the US because it handles so much cargo that it can be seen as a proxy for business activity. The company announced today that it expects record holiday shipping, albeit in its least-profitable residential service area. Nevertheless, this is a good sign for an economy in which recession looms and in which container imports declined in the third quarter due to high inventory levels.Read more ›
Key points: German Flash Composite Index at 2-month high; Flash Services Index at 3-month high; French Flash Composite Index at 29-month low; Flash Services Index at 27-month lowRead more ›