This is the table that accompanies the weekly economic review article at Global Economic Intersection – and is a summary of the analysis, investing and opinion articles published this week. See the weekly economic summary article: Debt Ceiling: Killing the Golden Goose
Weekly Economic Release Scorecard:
Item | Headline | Analysis |
June Sea Container Counts |
A 4.5% YoY contraction in imports after 16 straight months of YoY growth |
|
June Consumer Price Index |
Unchanged |
The core inflation rate is approaching the Fed’s target inflation rate |
July Empire State Manufacturing |
Less Bad |
Survey remains in negative territory for the second month |
July Michigan Consumer Sentiment |
Down Big Time |
Major drop and well below consensus |
June Industrial Production |
Up |
Data is flat – that is good because surveys were suggesting IP would fall |
Advance June Retail Sales |
Up 0.1% |
Likely up 0.5% on record June Sales |
June Producer Price Index |
Down to 7.0% |
Moderation is solely caused by better crude prices in June – literally everything else is rising |
June Export Import Prices |
Import prices up 13.6% YoY |
Export prices up 9.9% YoY. |
May Job Openings and Labor Turnover |
Unchanged |
Contradictory trends in May JOLTS provides only half an answer to the bad employment data |
May Trade Balance |
Growing deficit |
Growing trade deficit is a sign the economy is not softening |
June NFIB Sentiment Survey |
Down Slightly |
The report turned into a rant against government policies |
June Diesel Usage |
Up |
This data suggests the economy may be entering a new growth cycle |
Housing Demographics |
Chris Porter: Will demographics lead to a home building expansion cycle? |
|
June Rail Traffic |
Less Good |
Coal shipping is down. Ignoring coal, rail traffic is up strongly |
Consumer Metrics |
Less Bad |
Rick Davis reviews the current data |
Oil Price Spikes |
Lance Roberts shows the psychological “cost pressure” impacting consumer behavior. | |
Employment Growth |
Graphic proof big business is the cause of poor employment numbers since 2001 |
|
June Jobs Data |
A leading indicator in the BLS report is still strong – the economy is still expanding |
|
USA President |
Frank Li says age makes a difference in selecting a President |
|
Indian Rupee |
Ajay Shah suggests policy issues concerning trading of Rupees. |
|
Debt Ceiling |
Krugman is criticized for making debt ceiling issue partisan |
|
Mortgage Fraud |
John Lounsbury: the mortgage settlement is a whitewash |
|
Greek Debt |
Warren Mosler’s plan to end Greek crisis considered by EU |
|
Greek Default |
Elliott Morss: open letter to Greek pres. recommends default |
|
$VIX |
Shah Gilani reviews the mechanics of the volatility index |
|
China Investments |
Sanjeev Kulkarni: the USA and Europe may become Chinese economic colonies |
|
USA Corporate Earnings |
Jeff Miller says that corporate earnings have grown even if the economy has not |
|
Defensive Stocks |
Dee Gill suggests some defensive stocks for today’s volatility |