Week in Review
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Started by TimNew - Oct. 2, 2021, 5:53 a.m.

Durable Goods_M/MAug-21-0.101.80B-
Dallas Fed MFG_M/MSep-219.004.60C
Richmond Fed M/MSep-219.00-3.00C-
Chicago PMI_M/MSep-2166.8064.70C
PMI MFG_M/MSep-2161.1060.70C
ISM MFG_M/MSep-2159.9061.10C+
Case-Shiller HPI_M/MJul-211.801.50C
FHFA HPI_M/MJul-211.601.40C
Pending Home Sales_M/MAug-21-1.808.10B-
Construction Spending_M/MAug-210.300.00C
Personal Income_M/MAug-211.100.20C
Personal Expenditure_M/MAug-210.300.80C+
State St Investor   Confidence_M/MSep-21110.10105.90C-
Consumer Confidence_M/MSep-21113.80109.30C-
Consumer Sentiment_M/MSep-2171.0072.80C+
Jobless Claims_W/W9/25/2021351.00362.00C-
Corp Profits_Q/QQ269.3070.50C+

Lots of data this week.  Most of it pretty good.

Jobless Claims notched up a bit, particularly when you consider the prior was revised down to 335,   but relatively speaking,  these levels are a breath of fresh air.

Consumer and State Street confidence dropped a bit,   but Sentiment notched up.  Guess it depends on who you ask.

 Annual Housing Prices continue to appreciate in the high teens.   Somethings gotta give but pending home sales had a very strong showing for Aug.  There continue to be inventory problems.   

Personal Spending and  Income continue a slow but steady climb.

Mfg remains strong.  Durable goods had a very impressive 1.8% increase. ISM remains at +60!!.  Dallas moderated a bit.  Still strong at 4.6,  and with oil prices where they are, we'll likely see even stronger next month.  Richmond was an outlier.  Let's watch for next month.

Q2 GDP remains at an impressive 6.7,  but Q3 estimates are softening to 2.3.  Slide 1 (atlantafed.org) ;  We'll see what happens as the remaining metrics arrive.

Corporate Profits are through the roof. Earnings have been stellar which suggests they are not reinvesting as much in the business. Might at least partially explain the softening GDP.

A solid week deserving a solid C+.  I'm a little concerned about some things that appear to be nibbling about the edges,  but nothing concrete.  Keeping a weather eye on the economy.

By metmike - Oct. 2, 2021, 2:02 p.m.
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Thanks Tim!

Great to see Week in Review back again after a small September break!

This is the compilation for the last 2 years: