US - Economic Data & News 01 (May 08 - Jul 08)

US - Economic Data & News 01 (May 08 - Jul 08)

Postby kennynah » Wed May 07, 2008 8:34 pm

good econ data...dow futures turning positive

*************

1Q nonfarm productivity +2.2% vs +1.7% and..
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Re: US DATA: 1Q nonfarm productivity +2.2% vs +1.7% 7may08

Postby kennynah » Wed May 07, 2008 8:55 pm

productivity is anti-inflationary.... so, this econ data is equity market boosting...

***********

07 May 2008 12:48 GMT


US Q1 productivity up 2.2 pct, unit labor costs also up 2.2 pct

WASHINGTON (Thomson Financial) - US productivity in the first quarter of 2008 rose faster than expected, contributing to the largest year-over-year increase in productivity in nearly four years, the Labor Department said today.

Non-farm business productivity increased by an annual rate of 2.2 pct in the first quarter, higher than the 1.7 pct gain expected by economists polled by Thomson's IFR Markets.

That left productivity up 3.2 pct over the year, the largest year-over-year increase since the second quarter of 2004.

Economists said productivity tends to increase in an economic downturn.

Labor also reported that unit labor costs rose by 2.2 pct, below the 2.6 pct economists were expecting. Unit labor costs were up 0.2 pct over the year, the lowest year-over-year change since the second quarter of 2004.

According to Labor, unit labor costs "describe the relationship between compensation per hour and productivity," which "can be used as an indicator of inflationary pressure on producers."

Hourly compensation rose 4.4 pct in the quarter, although real hourly compensation rose only 0.1 pct. Hours worked fell in the quarter by 1.8 pct, the largest drop since the first quarter of 2003.
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U.S. Economic Data

Postby kennynah » Tue May 13, 2008 9:16 pm

but...note the details in bold ...

the indexes future reacted positively to this news...reversing a -ve and turned +ve

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13 May 2008 12:52 GMT
U.S. April retail sales down 0.2 pct vs 0.1 pct fall expected

WASHINGTON (Thomson Financial) - U.S. consumers played hardball at the car dealership last month, leaving overall retail spending negative in April, the second decline in the past four months, the Commerce Department said on Tuesday.

Overall retail sales fell 0.2 pct in April, a slightly sharper fall than the 0.1 pct decline economists surveyed by Thomson Reuters' IFR Markets had predicted.

Stripping out auto sales, retail sales were stronger than expected, rising 0.5 pct after rising by 0.4 pct in March. Economists had expected sales excluding autos to rise 0.3 pct in the month.

Excluding gasoline, retail sales fell 0.2 April after remaining virtually unchanged in March.

Excluding both gasoline and autos, retail sales rose 0.6 pct in April after falling 0.2 pct in March.

Auto sales fell 2.8 pct in April after falling 0.5 pct in March. Sales at gasoline stations fell 0.4 pct in the month.

Building supply store sales rose 1.9 pct in April, the largest increase since May, while sales at electronics and appliance stores rose 1.4 pct in the month, the largest monthly rise since November.

Clothing store sales rose 0.7 pct in April, while department store sales fell 0.5 pct and furniture store sales declined 0.6 pct in the month.

Overall retail sales have risen 2.0 pct in the past 12 months, while retail sales excluding autos have risen 4.5 pct in the past year.
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US foreclosure filings surge 65 percent in April 14may08

Postby kennynah » Wed May 14, 2008 5:33 pm

yes...more pain...better get it over as quickly as possible..

key, is whether this info has been factored into prices...if so, no worries, else if this data comes as a surprise, we would be in for a nasty surprise

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14 May 2008 09:17 GMT
LOS ANGELES (AP) - More U.S. homeowners fell behind on mortgage payments last month, driving the number of homes facing foreclosure up 65 percent versus the same month last year and contributing to a deepening slide in home values, a research company said Tuesday.

Nationwide, 243,353 homes received at least one foreclosure-related filing in April, up 65 percent from 147,708 in the same month last year and up 4 percent since March, RealtyTrac Inc. said.

Nevada, Arizona, California and Florida were among the hardest hit states, with metropolitan areas in California and Florida accounting for nine of the top 10 areas with the highest rate of foreclosure, the company said.

Irvine, Calif.-based RealtyTrac monitors default notices, auction sale notices and bank repossessions.

One in every 519 U.S. households received a foreclosure filing in April. Foreclosure filings increased from a year earlier in all but eight states.

The combination of weak housing sales, falling home values, tighter mortgage lending criteria and a slowing U.S. economy has left financially strapped homeowners with fewer options to avoid foreclosure. Many can't find buyers or owe more than their home is worth and can't get refinanced into an affordable loan.

Efforts by government and the mortgage industry to stem the tide of foreclosures aren't keeping up with the rising number of troubled homeowners.

The April data show nearly half of the properties received an initial notice of default, suggesting many homes were new entrants to the foreclosure process.

"We're still sitting at roughly the same percentage of loans handled in any way successfully as we were a year ago, and the volume (of foreclosure filings) still keeps going up," said Rick Sharga, RealtyTrac's vice president of marketing. "It's apparent that what they've tried so far isn't working."

The U.S. House passed a bill last week that would offer government insurance on $300 billion in new mortgages to refinance loans for an estimated half-million borrowers facing foreclosure, particularly those who now owe more than their houses are worth because of declining values.

House lawmakers also passed a bill that would send $15 billion to states to buy and fix foreclosed homes.

Still, should the homeowner aid package clear the Senate, it faces a potential hurdle in the White House, which has threatened to veto the plan, arguing it's too risky and amounts to a lender bailout.

Even if a legislative compromise is reached, it could come too late for homeowners with adjustable-rate mortgages scheduled to reset to higher rates this month and the next.

More than 1 million home foreclosures are forecast for 2008. (but remember to measure this against the total number of homes in USA...some 600 mil population...of avg 4 in a household...makes for some 150mil homes...so what's 1 million??)

"It doesn't look like the volume is going to slow down any time soon," Sharga said.

More than 54,500 properties were repossessed by lenders nationwide in April. In all, about 2 percent of U.S. households were in some stage of foreclosure during the month, RealtyTrac said.
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Mortgage application volume rises slightly 14may08

Postby kennynah » Wed May 14, 2008 7:47 pm

WASHINGTON (AP) - Mortgage application volume rose 2.9 percent during the week ending May 9, according to trade group Mortgage Bankers Association's weekly application survey.
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Re: US Economic Data & News - Ongoing

Postby kennynah » Wed May 14, 2008 8:38 pm

ok...generally inflationary

************

month-on-month
us cpi (apr) +0.2%
us core cpi +0.1%

US Food price highest since 1990

april's
food prices +0.9%
medical care +0.2%
tobacco +0.3%

year-on-year
cpi (apr) yoy up 3.9%
core yoy 2.3%
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Re: US Economic Data & News - Ongoing

Postby kennynah » Wed May 14, 2008 8:44 pm

April CPI +0.2% and core +0.1% (+0.1037%....


US DATA: April CPI +0.2% and core +0.1% (+0.1037% unrounded), both better than expected, for +3.9% YOY total and +2.3% YOY core.

The core was lowered by new vehicles -0.2% (-1.3% prior to SA),
drugs -0.2%, airfares -0.5%, videos -0.4%, hotels -1.9%, dr services +0.1%. OER was +0.2%.

Food was +0.9%, with hikes in prices of fruits & dairy, but beef -1.1%.

Energy was flat with most prices up, but gasoline -2.0% SA (these prices were +5.6% before adjustment but gas generally increases seasonally during the first 5 mos of each yr).

CPI sometimes moderates in Q2-Q3, and these numbers are a good sign that is happening.
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Re: US Economic Data & News - Ongoing

Postby blid2def » Wed May 14, 2008 8:57 pm

kennynah wrote:and this is how people who are paid to write, write the report...


Looks like I can write a program to churn that and qualify for the job! :D :D :D
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Re: US Economic Data & News - Ongoing

Postby millionairemind » Wed May 14, 2008 9:28 pm

GR - Like what they always report in the news after mkt closes...

If STI tanked 60pts
Investors are concerned that US subprime issues will affect worldwide growth leading to a major recession and decided to be defensive and sell stocks.

If STI goes up 60pts the next day
Investors take the chance to load up on blue chip shares which have been beaten down and shown very good value and bargains...

Heads I win, Tails you lose.. :mrgreen:

Like that you and I can make some money on the side as a financial writer.. :P
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Re: US Economic Data & News - Ongoing

Postby winston » Wed May 14, 2008 9:54 pm

I think the following was in Liar's Poker:-

This guy is in Equity Sales. Whenever, his client calls him and ask him why the market is going up, he will say that the Arabs were buying and vice versa.. :P
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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