Thursday, July 24, 2014
Inquirer Daily News

Archive: May, 2013

POSTED: Friday, May 31, 2013, 9:58 AM
Consumers didn’t open their wallets a whole lot in April. (Lisa Poole, File / Associated Press)

INDICATOR: April Spending and Income

KEY DATA: Consumption: -0.2%; Disposable Income: -0.1%; Wages and Salaries: 0.0%; Prices: -0.3%

Joel L. Naroff @ 9:58 AM  Permalink | 0
POSTED: Friday, May 24, 2013, 12:26 PM
The Federal Reserve Bank of Philadelphia. (Joseph Kaczmarek / Associated Press)

INDICATOR: April Durable Goods Orders

KEY DATA: Orders: +3.3%; Excluding Aircraft: +1.9%; Business Capital Expenditures: 1.2%

IN A NUTSHELL: “Neither weakness abroad nor dumb policies at home can prevent the manufacturing sector from growing.”

Joel L. Naroff @ 12:26 PM  Permalink | 0
POSTED: Thursday, May 16, 2013, 1:54 PM
The Federal Reserve Bank of Philadelphia. (Joseph Kaczmarek / Associated Press)

INDICATOR: April Consumer Price Index/Philadelphia Fed Survey

KEY DATA: CPI: -0.4%; Non-Food and Energy: +0.1%/Philadelphia Fed: down 6.5 points

IN A NUTSHELL: "The slowdown in inflation is good news but the growing number of gloomy economic numbers is beginning to catch my attention."

Joel L. Naroff @ 1:54 PM  Permalink | 0
POSTED: Thursday, May 16, 2013, 10:17 AM
In this Wednesday, April 24, 2013, photo, workers are seen at the construction of a new apartment housing complex in Trenton, N.J. The Commerce Department reports the pace at which builders broke ground on homes in April on Thursday, May 16, 2013. (AP Photo/Mel Evans)

INDICATOR: April Housing Starts and Permits/Jobless Claims

KEY DATA: Starts: down 16.5%; Permits: up 14.3%/Jobless Claims: 360,000 (up 32,000)

IN A NUTSHELL: "With permits outstripping construction, look for a rebound in housing starts over the next few months."

Joel L. Naroff @ 10:17 AM  Permalink | 0
POSTED: Wednesday, May 15, 2013, 10:39 AM
In this Wednesday, Feb. 27, 2013 photo, a woman fills up a gas tank at a gas station in Chicago. A measure of wholesale prices fell by the largest amount in 10 months in March, reflecting a big drop gasoline prices. The Labor Department, on Friday, April 12, 2013, says its producer price index fell 0.6 percent in March compared with February. In February, wholesale prices had jumped 0.7 percent. (AP Photo/Nam Y. Huh)

INDICATOR: April Producer Price Index/Industrial Production

KEY DATA: PPI: -0.7%; Excluding Food and Energy: +0.1%/IP: -0.5%; Manufacturing: -0.4%

IN A NUTSHELL: "With no pressure on wholesale costs, there is little reason to believe that consumer prices will be rising very much anytime soon, especially if the nation's manufacturing base doesn't see demand rise faster."

Joel L. Naroff @ 10:39 AM  Permalink | 0
POSTED: Tuesday, May 14, 2013, 9:49 AM
Import prices fell sharply in April led by a large decline in petroleum costs. (AP Photo/File)

INDICATOR: April Import and Export Prices

KEY DATA: Imports: -0.5%; Nonfuel: -0.2%; Exports: -0.7%; Farm: -2.2%

IN A NUTSHELL: "With the price of imports basically going nowhere, consumer inflation should remain tame and that is good for both households and the Federal Reserve."

Joel L. Naroff @ 9:49 AM  Permalink | 0
POSTED: Friday, May 3, 2013, 2:39 PM
The outlook for the labor market became a little more clouded as the Institute for Supply Management's April survey of non-manufacturing firms showed slower job increases.

INDICATOR: April Employment Report/ISM Non-Manufacturing Survey

KEY DATA: Payrolls: 165,000; Private Sector: 176,000; Unemployment Rate: 7.5% (down 0.1 percentage point)/ISM (Non-Manufacturing): 53.1 (down 1.3 points)

IN A NUTSHELL: "A declining unemployment rate is great news but a softening service sector raises questions whether job gains can be strong enough to lower the rate further."

Joel L. Naroff @ 2:39 PM  Permalink | 0
POSTED: Thursday, May 2, 2013, 4:16 PM
In this March 1, 2013 photo, a crane removes a container from a ship at the Port of Baltimore's Seagirt Marine Terminal in Baltimore. The government reports on the U.S. trade deficit for March, Thursday, May 2, 2013. (AP Photo/Patrick Semansky)

INDICATOR: March Trade Deficit

KEY DATA: Deficit: $38.8 billion ($4.8 billion narrower)

IN A NUTSHELL: "A surprisingly narrow March trade deficit could mean that first quarter growth was stronger than initially estimated."

Joel L. Naroff @ 4:16 PM  Permalink | 0
About this blog
Joel L. Naroff is the president and founder of Naroff Economic Advisors, a strategic economic consulting firm in Bucks County. He advises companies across the country on the risks and opportunities that economic developments may have on the organization’s operating environment. An accomplished public speaker, Joel’s humor and unique ability to make economics understandable have brought him a wide following. Reach Joel at joel@naroffeconomics.com .

Joel Naroff
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