U.S. Industrial Production Rose 0.8% In December
U.S. industrial production rose 0.8% in December. The consensus was at 0.5%, November revised (down 0.1%) reading was at 0.3%. On year level industrial production is up 5.9%.
Archive for the ‘U.S. Economic Data’ Category
U.S. Retail Sales Rose 0.6% In December
U.S. retail sales rose 0.6% in December. The consensus was at 0.8%, November reading was at +0.8%. On year level retail sales are up 7.6%.
U.S. Consumer Price Index Rose 0.5% In December
U.S. consumer price index rose 0.5% in December vs. 0.4% consensus and November reading of 0.4%. On year level CPI inflation is running at 1.4%.
U.S. Initial Jobless Claims At 445.000; Up 35.000
Initial jobless claims in the U.S. were reported at 445.000 vs. 410.000 consensus; last week revised (up 1.000) reading was at 410.000.
Again rising; the fall in initial jobless in last few weeks claims was obviously a product of holiday spirit.
U.S. Producer Price Index Rose 1.1% In December
U.S. producer price index rose 1.1% in December vs. 0.8% consensus. November reading was also at 0.8%. On year level PPI is up 4.1%.
NFIB Small Business Optimism Index For December At 92.6
NFIB Small Business Optimism Index for January was reported at 92.6 vs. consensus of 94.5 and prior reading of 93.2. The index is trending up, but it’s consistent with weak recovery.
December Nonfarm Payrolls Rose 103.000; Unemployment Rate At 9.4%
Nonfarm payrolls rose 103.000 in December. The consensus was at 160.000, November reading was an increase of 71.000 (revised +42.000). The unemployment was reported at 9.4% vs. prior reading of 9.8% and consensus of 9.7%.
Private payrolls were up 113.000 vs. 180.000 consensus and 79.000 reading in November (revised +29.000).
Average weekly hours worked for private employees stayed unchanged at 34.3.
Huge miss in both nonfarm payrolls and private payrolls. Unemployment rate fell on reduced participation in labor force (lowest since ’80s). All in all weak report, especially having in mind rosy sunglasses sentiment.
Monster Employment Index For December At 130
Monster Employment Index fell to 130 in December; November reading was at 134.
Monster Employment Index is a gauge for online job demand; so no confirmation of ADP reading here.
U.S. Initial Jobless Claims At 409.000; Up 18.000
nitial jobless claims in the U.S. were reported right at 409.000 vs. 412.000 consensus; last week revised (up 3.000) reading was at 391.000.
Previous reading which was bellow 400.000 was after all a product of seasonal effects. Taking ADP employment into account we can say that U.S. economy is crating jobs at faster pace, but the pace of job losses is also faster than long term average. Even with this improved equation of job creation and job losses the inflow of people into work force will keep unemployment high for some time.
December ISM Non-Manufacturing Index At 57.1
ISM Non- Manufacturing Index was reported at 57.1 vs. 56.0 consensus; November reading was at 55.0.
Improvements here also.
ADP Employment Rose 297.000 In December
ADP Employment rose 297.000 in November vs. revised (down 1,000) gain of 92,000 in November. This reading is off the charts, highest since at least 2001 (I don’t have older data).
Nonfarm payrolls on Friday (rule of thumb) could be better than 140.000 consensus.
Challenger Job-Cuts For December At 32,004
Challenger’s count of layoff announcements was reported at 32,004 in December vs. 48,711 in November.
Lowest reading since June 2000. That says it all.
U.S. Motor Vehicle Sales For December At 12.53 Million SAAR
U.S. total motor vehicle sales for December rose 2.2% to 12.53 million SAAR. On year level motor vehicle sales are up 12.7%.
Like with other consumer related parts of the economy auto purchases are steadily gaining ground.
FOMC Minutes – January 4, 2011
Nothing exciting and new upon first (skim)reading.
U.S. Factory Orders Rose 0.7% In November
U.S. factory orders rose 0.7% in November. The consensus was at 0.0%, prior reading was at -0.9%.
Factory shipments rose 0.8% vs. prior reading of 0.4%.