Post Tagged with: "Economy"
Leap in jobless claims is an ominous signal
This morning, I left just in time to see the U.S. Department of Labor’s jobless claims numbers for the preceding week. They were not good. Initial claims hit 480,000 for the week ending 30 Jan 2010, pushing the 4-week average up to 468,750. As a result of this news and sovereign debt issues in
Chart of the day: U.S. hiring and layoffs by region
This map comes via Gallup. The jobs picture is worst in the west and best in the south. See Gallup’s analysis of the data at the link below: Source In January, Most Job Creation in U.S. South and East – Gallup
Global manufacturing continued its expansion In January
This is a post which was originally published at A Fistful of Euros. The global manufacturing expansion continued to gather momentum in January. Coming in at 56.1, up from 54.6 in December, the JPMorgan Global Manufacturing Purchasing Managers’ Index registered its highest reading for five and a half years. The latest improvement in overall operating
ISM manufacturing survey points to more inventory gains
You can be bearish and point to the potential for a double dip all you want (I certainly do). But to dismiss out of hand the huge uptick in manufacturing is just crazy. These numbers are off the charts bullish. Witness the latest manufacturing data from the ISM below: The PMI is at 58.4,
Chart of the Day: Personal Income and Outlays
I have sifted through the most recent personal income data and wanted to show you a few charts that might indicate where we’re heading. First, there is personal income. It’s fallen off a cliff since the recession began. Looking at the six-month average to smooth out blips, personal income growth peaked way back in June
Spain is a serious country
This is a post which was originally published at A Fistful of Euros. José Luis Rodríguez Zapatero, Spain’s prime minister, said in Davos this week: “We are a serious country and we will fulfil our promises.” With these words Spain’s Prime Minister sought, during his visit to Davos last week to reassure international investors that
Chart of the day: U.S. savings rate over last 60 years
I am in the process of crunching the numbers from today’s report on U.S. personal income and outlays. The monthly data came out at 8:30 EST this morning but I think the quarterly data is more interesting because it goes back to 1947, where the monthly data only goes back to 1959. Here’s a chart
Weaker eurozone manufacturers losing competitiveness
The eurozone’s manufacturing sector is growing at its fastest pace in two years. However, there are dramatic differences in how manufacturing is faring within the eurozone which point to the currency as a major source for the loss of competitiveness in Greece, Spain and Ireland. The eurozone manufacturing purchasing manager’s index came in at 52.4
GDP up 5.7%, fastest rate since 2003
The BEA says: Real gross domestic product — the output of goods and services produced by labor and property located in the United States — increased at an annual rate of 5.7 percent in the fourth quarter of 2009, (that is, from the third quarter to the fourth quarter), according to the "advance" estimate released
Jobless claims 470,000, average rises for 2nd week
This is the second week running that we have seen higher jobless claims. Two weeks ago the 4-week average seasonally adjusted number was 440,750. This was a number reflective of steadily declining claims in the period leading up to the holiday season and New Year. However, the last two weeks have seen a marked rise
Is the recession dating committee preparing for a double dip?
The Big Picture has picked up on what appears to be an interesting development over at the NBER’s site. It seems like they are hedging there bets on a possible double dip recession beginning in late 2010 or 2011. As you may know, the NBER is the organization which is responsible for the monthly dating
Initial jobless claims rise dramatically to 482,000
From the U.S. Department of Labor: In the week ending Jan. 16, the advance figure for seasonally adjusted initial claims was 482,000, an increase of 36,000 from the previous week’s revised figure of 446,000. The 4-week moving average was 448,250, an increase of 7,000 from the previous week’s revised average of 441,250. UNEMPLOYMENT INSURANCE DATA