Thursday, July 24, 2014
Inquirer Daily News

Archive: June, 2013

POSTED: Thursday, June 27, 2013, 1:47 PM

INDICATOR: May Income and Spending/Weekly Jobless Claims

KEY DATA: Consumption: +0.3%; Disposable Income: +0.5%; Prices: +0.1%/Jobless Claims: 346,000 (down 9,000)

IN A NUTSHELL: "Wages and salary growth remains sluggish and that is what is holding the economy back."

Joel L. Naroff @ 1:47 PM  Permalink | 0
POSTED: Wednesday, June 26, 2013, 12:57 PM

INDICATOR: Second Revision of First Quarter GDP

KEY DATA: GDP: 1.8% (down from 2.4%)

IN A NUTSHELL: "With economic growth so modest, the Fed members will have a lot of problems trying to explain why it's almost time to take the pedal off the metal."

Joel L. Naroff @ 12:57 PM  Permalink | 0
POSTED: Tuesday, June 25, 2013, 2:00 PM
FILE - In this Monday, May 13, 2013 file photo, gardener Jose Lopez trims the front lawn of a home for sale in Alhambra, Calif. U.S. home prices jumped 12.1 percent in April from a year ago, buoyed by strong demand and a limited supply of available homes. (AP Photo/Nick Ut, File)

INDICATOR: May New Home Sales/April Housing Prices

KEY DATA: New Home Sales: up 2.1%/Case-Shiller 20-City Home Prices: up 2.5% (12.1% over the year)/ FHFA Home Prices: up 0.7% (7.4% over the year)

IN A NUTSHELL: "With mortgage rates rising, the sharp rise in prices may create some affordability issues and slow the housing and therefore the economic recovery."

Joel L. Naroff @ 2:00 PM  Permalink | 0
POSTED: Tuesday, June 25, 2013, 10:44 AM
In this Wednesday, May 8, 2013 photo, new 2013 Ford Fusions are seen at an automobile dealer in Zelienople, Pa. The Commerce Department reports on business orders for durable goods in May, on Tuesday, June 25, 2013. (AP Photo/Keith Srakocic)

INDICATOR: May Durable Goods Orders/June Consumer Confidence

KEY DATA: Durables: +3.6%; Excluding Aircraft: +0.9%: Business Investment: +1.1%/ Consumer Confidence: 81.4 (up 7.1 points)

IN A NUTSHELL: "Consumers are confident and that is leading to purchases of big-ticket items and more business investment."

Joel L. Naroff @ 10:44 AM  Permalink | 0
POSTED: Thursday, June 20, 2013, 4:24 PM
(AP Photo/Elise Amendola)

INDICATOR: May Existing Home Sales/Leading Indicators

KEY DATA: Housing Sales: up 4.2%; Median Prices (year-over-Year): up 15.4%/Leading Indicators: up 0.1%

IN A NUTSHELL: "Housing remains really strong and the soaring prices should help not only the residential real estate market but also consumer confidence and spending."

Joel L. Naroff @ 4:24 PM  Permalink | 0
POSTED: Wednesday, June 19, 2013, 9:01 PM
Federal Reserve Chairman Ben Bernanke speaks during a news conference in Washington, Wednesday, June 19, 2013. The Federal Reserve signaled Wednesday that it's moving closer to slowing its bond-buying program, which is intended to keep long-term interest rates at record lows. Bernanke said the Fed could start scaling back its $85 billion in monthly bond purchases later this year if the economy continues to improve. He said the reductions would occur in "measured steps" and that the purchases could end by the middle of next year. (AP Photo/Susan Walsh)

In a Nutshell: "If the incoming data are broadly consistent with (the members') forecast, the Committee currently anticipates that it would be appropriate to moderate the monthly pace of purchases later this year."

Rate Decision: Fed funds rate maintained at a range between 0% and 0.25%

Quantitative Easing Decision: Bond purchases remain at $85 billion

Joel L. Naroff @ 9:01 PM  Permalink | 0
POSTED: Tuesday, June 18, 2013, 11:53 AM
(GENE J. PUSKAR / Associated Press)

INDICATOR: May Housing Starts and Permits

KEY DATA: Starts: up 6.8%; Year-to-Date: up 28.1%; Permits: down 3.2%

IN A NUTSHELL: "With builder confidence jumping, home construction should continue to improve despite the recent increase in mortgage rates."

Joel L. Naroff @ 11:53 AM  Permalink | 0
POSTED: Friday, June 14, 2013, 3:21 PM

INDICATOR: May Industrial Production and Producer Price Index

KEY DATA: IP: 0.0%; Manufacturing: +0.1%/PPI: +0.5%; Excluding Food and Energy: +0.1%

IN A NUTSHELL: "The manufacturing sector is wandering along and inflation is largely tame, so why is the Fed in a hurry to ease up on the accelerator?"

Joel L. Naroff @ 3:21 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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