The Day’s Economic Numbers

OK, here’s the business news that fit to print.

  • The four week moving average for unemployment was 619,000 which is a 10,500 increase over the prior week. Link here.
  • Producer prices were up 0.8% for January. Taking out food and energy, prices were up 0.4%. Link here.
  • The Philly Fed Index fell to a negative 42.3 from 24.3. Orders, shipments and prices paid were all down significantly. Link here.
  • The index of leading economic indicators rose 0.4% in January from a downwardly revised figure of 0.2% in December. The Conference Board which prepares the report said it may signal weak growth later in the year. Many analysts say the report is skewed by the Fed’s massive injections of liquidity and should be ignored. Links here and here.

It looks like my thoughts a couple of weeks ago about the possibility of a strong snap-back in the second half may end up being wishful thinking. I’m still not ready to abandon them just yet, however.

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