Tuesday, June 26, 2012

Misc: Richmond Fed Survey shows contraction, Consumer confidence declines

by Calculated Risk on 6/26/2012 05:54:00 PM

Some earlier releases ...

From the Richmond Fed: Manufacturing Activity Eased in June, But Expectations Remained Upbeat

Manufacturing activity in the central Atlantic region softened in June, following six months of moderate expansion, according to the Richmond Fed's latest survey.

In June, the seasonally adjusted composite index of manufacturing activity — our broadest measure of manufacturing — lost seven points to −3 from May's reading of 4. Among the index's components, shipments declined two points to −2, new orders dropped thirteen points to end at −12, and the jobs index moved down eight points to 8.
Three out of four regional manufacturing surveys have been below expectations in June.

And from the Conference Board: The Conference Board Consumer Confidence Index® Declines Again
The Conference Board Consumer Confidence Index®, which had declined in May, fell further in June. The Index now stands at 62.0 (1985=100), down from 64.4 in May. The Expectations Index declined to 72.3 from 77.3. The Present Situation Index, however, increased to 46.6 from 44.9 last month.
This was below expectations of a decline to 63.5. It seems the only "good news" these days is from housing!

Earlier on house prices:
Case Shiller: House Prices increased in April
Real House Prices and Price-to-Rent Ratio
All Current House Price Graphs