Weekly Economic Release Scorecard: |
Item |
Headline |
Analysis |
Expected Costs to Banks for Put-Backs |
|
Earnings may not cover the $31 billion of put backs |
Empire State Manufacturers Survey |
New Orders crashed to recession levels |
This is a survey – and may be indicating incorrectly |
Philly Fed Business Survey |
Business conditions near all time highs |
New Orders are on the high side of normal |
Conference Board Leading Economic Indicator |
Spring 2011 to have moderate economic improvement |
At conflict with ECRI’s WLI which is implying the opposite |
Fed FOMC member Elizabth Duke |
The chain of title issues for mortgages will resolve over time |
Understating the potential crisis in the foreclosure market |
Fed FOMC member Elizabeth Duke |
Testimony to house subcommittee on legal problems in foreclosure process |
|
Residential Building Permits |
0.5% improvement Month over Month |
Decline in building permits continues |
Producer Price Index |
0.4% increase Month over Month |
PPI increases not being passed on to consumers |
Consumer Price Index |
Up 0.2% Month over Month |
Core inflation continues to fall |
New Home Construction |
|
Will slowing begin to drive GDP growth |
Industrial Production |
Flat in October 2010 |
Likely decreased slightly |
G20 meeting |
|
QE2 is depreciating the Dollar at a time the other currencies are unable to counter |
Transport – sea containers |
Overall Counts are improving |
Possibly indicates a reduction in USA demand |
Business Sales |
Up 0.5% – inventory to sales ratios growing |
Likely inventory to sales ratios are not increasing |
Retail Sales |
Up 1.2% |
Maybe up as retailers are pushing forward Christmas |
European Crisis |
|
An analysis of the German position |
|
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19-Nov-10 |
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