by Calculated Risk on 10/25/2011 10:17:00 AM
Tuesday, October 25, 2011
• Richmond Fed: Manufacturing Contraction Persists in October; Employment Turns Negative
In October, the seasonally adjusted composite index of manufacturing activity — our broadest measure of manufacturing — was unchanged from September's reading of −6. Among the index's components, shipments lost four points to −6, while new orders gained twelve points to finish at −5 and the jobs index turned negative, moving down fourteen points to −7.• From the Conference Board Consumer Confidence Index® Declines
Labor market conditions weakened at District plants in October. The manufacturing employment index moved down 14 points to −7 — the first negative reading for employment since September 2010. The average workweek index, however, gained six points to −1, while wage growth was virtually unchanged, easing one point to finish at 5.
The Conference Board Consumer Confidence Index®, which had slightly improved in September, declined in October. The Index now stands at 39.8 (1985=100), down from 46.4 in September.This is the lowest reading since 26.9 in March 2009.
• From the FHFA: FHFA House Price Index Falls 0.1 Percent in August, First Monthly Decline Since March
U.S. house prices fell 0.1 percent on a seasonally adjusted basis from July to August, according to the Federal Housing Finance Agency’s monthly House Price Index. The previously reported 0.8 percent increase in July was revised to reflect no change. For the 12 months ending in August, U.S. prices fell 4.0 percent.• Via Bloomberg, EU Finance minister meeting cancelled:
While 27 EU leaders convene before the 17 chiefs of the 17 euro nations tomorrow, a meeting of the 27 EU finance ministers scheduled to precede them was cancelled with no explanation.Earlier:
• Case Shiller: Home Prices increased Seasonally in August
Posted by Calculated Risk on 10/25/2011 10:17:00 AM