United States Tag

US Corporate Profit Margins Increase Again In The 3Q

05 Dec, by Knowledge Leaders Team in Uncategorized

US corporate profit margins are at their second highest level ever at 10.14%. The highest level was reached in the 4Q11 when profit margins spiked to 10.27%. 4-year annualized growth of profits have slowed from 19.4% to 10.1% in just three quarters....

US Economic Data Round-Up

04 Dec, by Knowledge Leaders Team in Uncategorized

ADP payroll data surprised to the upside today (215k vs 185k expected). It was the highest reading so far this year. Perhaps most encouragingly the gain was lead by small businesses. ISM Non-Manufacturing survey came in slightly below expectations (53.9 vs 55.5 expected)....

Railroad Carloads Up The Most Since Early 2012

03 Dec, by Knowledge Leaders Team in Uncategorized

Railroad carloads traffic is a good ”real” indicator of economic activity in the United States. The one-year moving sum of total carloads oscillated between about 320,000 units to 350,000 units from 1989 to 2008. Since 2008, however, has been between about 260,000 units to 290,000...

Case-Shiller Home Price Index Gains Again

26 Nov, by Knowledge Leaders Team in Uncategorized

Case-Shiller Home Price Index rose 0.7% in September. Denver is now the most above pre-crisis levels while Las Vegas continues to lag the furthest behind. Based on existing home supply, we may soon see a leveling out of the year-over-year price gains....

Disconnect Between JOLTS and Payroll Data Widens

22 Nov, by Knowledge Leaders Team in Uncategorized

US JOLTS (Job Openings and Labor Turnover Stats) is a useful employment indicator that doesn’t get as much attention as it’s nonfarm payroll cousin. According to Bureau of Labor Statistics, JOLTS data was designed to ”serve as a demand-side indicator of labor shortages”....

The Most Interesting Charts From Today’s US Econ Releases

20 Nov, by Knowledge Leaders Team in Uncategorized

Mortgage apps and existing home sales both fell. Mortgage apps dropped 2.3% week-over-week while existing home sales it’s first 3-month decline since May 2011. The year-over-year change in the CPI fell to a four-year low. Other than the negative CPI prints in 2009, this is...

Housing Market Activity Picks Up In The Northeast

18 Nov, by Knowledge Leaders Team in Uncategorized

An under appreciated aspect of the rebound in the housing market has been the relative lack of a rebound in the Northeast. According to Case-Shiller, New York City has had the weakest rebound in prices from their lows of the twenty cities they track and...

More Muddle Through Data For The US

15 Nov, by Knowledge Leaders Team in Uncategorized

Two important indicators for US manufacturing were released this morning and both pointed to a continuation of the ”muddle through” pace of growth in the US. Empire Manufacturing index was below expectations at -2.2 (vs expectations of 5.5). The employment component also showed a slowdown...

US Labor Costs Remain Constrained

14 Nov, by Knowledge Leaders Team in Uncategorized

Productivity and unit labor costs for the US were released today. Unit labor costs fell slightly last quarter on an annualized basis as productivity increased slightly more on an annualized basis in the third quarter compared to the second quarter....