{"id":189427,"date":"2010-03-31T19:55:00","date_gmt":"2010-04-01T00:55:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2010\/03\/31\/economics-update-71\/"},"modified":"2010-03-31T19:55:00","modified_gmt":"2010-04-01T00:55:00","slug":"economics-update-71","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2010\/03\/31\/economics-update-71\/","title":{"rendered":"Economics Update"},"content":{"rendered":"
Click for full size<\/p>\n
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Philly Fed 1st<\/sup> Q: 25 states down, 18 up, 7 unchanged
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The official non-farm payroll (NFP) number comes out on Friday, but today we have the private report from ADP, which shows a loss of 23,000 jobs<\/a>, but the payroll withholding taxes numbers imply an increase in total jobs of something in the 300,000 range<\/a>.<\/p>\n

Meanwhile, the Philadelphia Bank of the Federal Reserve has released its State Coincident Indexes<\/a>, which show that half of the states contracted over the past 3 months, and 23 decreased in the past month.<\/p>\n

It’s better than it was a year ago, but it’s still not good.<\/p>\n

In the consumer sector, consumer spending rose in February<\/a>, and the Conference Board’s Consumer Confidence Index rose in March<\/a>.<\/p>\n

On the production side, factory orders rose for the 6th<\/sup> month<\/a>, though the data was not good in the Midwest, with the, with the Chicago purchasing managers index falling<\/a>.<\/p>\n

In real estate, mortgage application, including purchases, rose last week<\/a>, and Fannie Mae has reported that mortgage delinquencies rose to 5.52%<\/a> in January.<\/p>\n

Note that because of the different times covered, these numbers may be consistent.<\/p>\n

Across the ponds, Euro zone inflation rose to 1.5% year over year, and unemployment broke 10%<\/a>, while in China, manufacturing grew faster than forecast in March<\/a>.<\/p>\n

Meanwhile, for reasons that I do not understand, oil rose<\/a>, though the Chinese manufacturing data might have led to concerns over additional demand, and both the dollar and the Yen fell<\/a> on reduced demand for safe havens.<\/p>\n","protected":false},"excerpt":{"rendered":"

Click for full size Philly Fed 1st Q: 25 states down, 18 up, 7 unchanged The official non-farm payroll (NFP) number comes out on Friday, but today we have the private report from ADP, which shows a loss of 23,000 jobs, but the payroll withholding taxes numbers imply an increase in total jobs of something …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1080,973,975,1135,1089],"tags":[],"class_list":["post-189427","post","type-post","status-publish","format-standard","hentry","category-currency","category-economy","category-employment","category-energy","category-recession"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/189427"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=189427"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/189427\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=189427"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=189427"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=189427"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}