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Tag Archives: US/Global Economics

CPI Rose .3% on Prices for Food, Energy, New Vehicles

CPI Rose 0.3% in August on Higher Prices for Food, Energy, New Vehicles, Furniture and Appliances; Commenter and Blogger RJS at MarketWatch 666 Organization for Economic Co-operation and Development, Consumer Price Index: All Items for the United States [USACPIALLMINMEI], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/USACPIALLMINMEI, September 19, 2021. The consumer price index rose 0.3% in...

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Jobless claims continue in normal mid-cycle range

Jobless claims continue in normal mid-cycle range Last week I encouraged readers to take the very low jobless claims number with a grain of salt due to Labor Day artifacts, and see if the big reduction was maintained or reversed this week. This week did indeed reverse the pattern somewhat, but not enough to interfere with the overall declining trend.Initial claims rose 20,000 to 332,000, while the 4-week average declined 4,250 to 335,750, the...

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Polluting the Atmosphere for Free

Coming to a Close?, Quartz, Michael J. Coren & Clarisa Diaz Quartz has an article up on Carbon emissions which I found interesting. It is explaining why natural gas prices are increasing. Taking from the Quartz article, a few segments. The price of carbon has never been higher. In April, a metric ton of carbon in Europe traded above $50 for the first time, kept rising, and smashed through the ceiling set over the last decade. Global carbon...

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Natural Gas prices at a 7 1/2 year high

Focus on Fracking: natural gas prices at a 7 1/2 year high; US crude supplies at a 23 month low, gasoline supplies at a 22 month low, Blogger RJS Natural gas prices also rose during the holiday shortened week as three-fourths of Gulf production still remained shut in as the weekend approached . . . after rising 7.8% to $4.712 per mmBTU last week on an unseasonably low inventory build while hurricane Ida disrupted both production and exports, the...

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Industrial production now exceeds pre-pandemic level

Industrial production now exceeds pre-pandemic level Industrial production, the King of Coincident Indicators, was reported this morning for August and was positive in a particularly significant way. Total production increased 0.4% in August, and the manufacturing component increased 0.1%. Nothing particularly special about that; in fact the manufacturing component was a little weak compared with most recent months. Additionally, the July...

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Supplies of US crude at a 23 month low and gasoline at a 22 month low

“US crude supplies at a 23 month low, gasoline supplies at a 22 month low,” Focus on Fracking, Blogger and Commenter RJS The Latest US Oil Supply and Disposition Data from the EIA US oil data from the US Energy Information Administration for the week ending September 3rd indicated that after major decreases in our oilfield production, our refinery throughput, our oil imports and our oil exports due to Hurricane Ida, we needed to withdraw oil...

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Wholesale Sales Up 2.0%; and Inventories Up 0.6%

July’s Wholesale Sales Were Up 2.0%; Wholesale Inventories Were Up 0.6%, MarketWatch 666, RJS Monthly Wholesale Trade Report for July 2021 (census.gov)The July report on Wholesale Trade, Sales and Inventories (pdf) from the Census Bureau estimated that the seasonally adjusted value of wholesale sales was at $601.3 billion in July, up 2.0 percent (±0.4 percent) from the revised June level, and up 23.7 percent (±1.6 percent) from wholesale sales of...

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Norway’s Climate Dilemma

Norway’s Climate Dilemma Carlos Joly, a finance-and-climate consultant, has a piece today on the upcoming election in Norway, one of the world’s major exporters of oil and gas.  To its credit, Norway puts its earnings in a fund to support future generations after its deposits are exhausted, known to economists as the Hartwick Rule.  That’s great for economic sustainability in Norway, but what about the threat its fossil fuel industry poses to the...

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August Producer Price Index Sets New YoY Record Increases

August Producer Price Index Sets New YoY Record Increases for Final Demand Goods, Final Demand Services, and a 46 year High for Prices of Intermediate Goods; MarketWatch 666, Commenter RJS Producer Price Index by Commodity: Final Demand: Final Demand Goods (PPIFDG) | FRED | St. Louis Fed (stlouisfed.org)The seasonally adjusted Producer Price Index (PPI) for final demand rose 0.7% in August, as prices for finished wholesale goods rose 1.0% while...

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The market still out of equilibrium, no additional hiring from early termination of benefits

July JOLTS report shows market still out of equilibrium, no additional hiring from early termination of benefits This morning’s JOLTS report for July is particularly important, because July was the first full month after a number of GOP-controlled States terminated enhanced unemployment benefits, on the theory that they were excessive and were coddling idle workers. Thus we should be seeing a big drop in unfilled job openings, as those people...

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