Sunday, August 29, 2010

Week of August 30th Economic data to be released (Update)

Here is a look at this week's economic data and what the expectations are. As usual, Thursday's Initial Jobless Claims are very important but also, so is the Unemployment rate for August which comes out on Friday. Tuesday has the Minutes of the FOMC meeting being released, which are always subject to the interpreter. So there will be much to look at. A good way to sort this is to look at which indicators have to do with Q2, which has long been over, and which data are current and forward looking. The oldest data is looking as far back as Q2, then look at the data which looks somewhat backwards within Q3, and lastly, the most current data, which will be of the past 1-2 weeks. Initial Jobless Claims falls into the latter information, as does Chicago PMI, and Consumer Confidence. Most of the other data is at least a month old or as much as 2 months old. Come back during the week to get the actual data, as it is released. Then look at the recent charts I have posted and make up your own mind as to the state of affairs in the economy.

Be sure to read my last post too as it is one of my better ones recently. Thanks!

Update: 8:15am PST Aug. 30th

The data is in for today's results. Everything came in at expectation except there was an increase in Personal Spending to +0.4%. Personal Income came in at +0.2%, as expected.

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