Archive for August 19th, 2010
Philly Fed Index Signals Return to Contraction
The Philadelphia Federal Reserve released its Business Outlook Survey for August today. The manufacturing diffusion index dropped to -7.7 from 5.1 in July, signaling contraction for the first time since July 2009. “The survey’s broadest measure of manufacturing conditions, the diffusion index of current activity, decreased from a reading of 5.1 in July to -7.7 [...]
Short-term Forecast for August 19, 2010
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Initial Unemployment Claims Jump to 500,000
The Department of Labor reported that initial unemployment claims increased to 500,000 last week from a revised figure of 488,000 during the prior week. This is the highest level since late 2009, pushing the four-week moving average up to 482,500. The four-week moving average has been confined to a relatively narrow range since bottoming in [...]
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