Initial Claims increased to 454,000, for the week ending 01/22, the highest level recorded since late October 2010, against the expected marginal increase to 404,000, after decreasing to 403,000, the revised level for the previous week. The 4-week moving average decreased to 428,750, from the previous week’s revised average of 413,000. Seasonally adjusted insured unemployment from the prior week, ending on 01/15, was 3,991,000, an increase of 94,000 from the preceding week’s revised level of 3,897,000. Seasonally adjusted insured unemployment rate from the week ending on 01/15, was 3.2%, an increase of 0.1% from the prior week’s unrevised figure of 3.1%.
Durable Orders decreased by 2.5% or $5.0 billion, during December to $191.0 billion, against the expected 1.4% increase. This decrease was primarily due to a sharp decline in aircraft orders and weaker demand for vehicles and computers. This is the fourth decrease in the last five months, followed a 0.1% decrease in November, revised upwards from a previous estimate of a 0.3% decline. Excluding transportation, new orders increased 0.5%. Excluding defense, new orders decreased 2.3%. Demand for goods outside the defense sector declined 2.5%. Transportation equipment had the highest decline, decreasing by 12.8%. However, shipments rose 1.4% and orders for capital goods increased 1.4%.
Pending Home Sales are expected to increase by 2.9% today at 10:00 AM EST. The Pending Home Sales Index had increased 3.5% in November to an index value of 92.2 following a 10.1% increase in October. The index had decreased by 5% on a year-over-year basis.
Upcoming Releases
GDP Q4 Advance (01/28 at 8.30 AM EST)
Personal Consumption Expenditures (01/31 at 8.30 AM EST)
ISM Manufacturing Index (02/01 at 10.00 AM EST)
Construction Spending (02/01 at 10.00 AM EST)
Construction Spending (02/01 at 10.00 AM EST)
