Archive for May, 2015

Restaurant Performance Index increased in April

May 29, 2015 11:30 pm
Restaurant Performance Index increased in April

Here is a minor indicator I follow from the National Restaurant Association: Restaurant Performance Index Posts Moderate Gain in April Driven by stronger same-stores sales and customer traffic levels, the National Restaurant Association’s Restaurant Performance Index (RPI) posted a moderate gain in April. The RPI – a monthly composite index […]

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Five Chicago Suburbs Headed for Bankruptcy (More Illinois Cities Will Follow)

8:44 pm
Five Chicago Suburbs Headed for Bankruptcy (More Illinois Cities Will Follow)

Illinois House Bill 298 would allow Illinois municipalities to file for Chapter 9 bankruptcy. That bill is endorsed by Governor Bruce Rauner, and currently rests in the house rules committee. As soon as Illinois passes Bill 298, a number of Illinois cities are highly likely to file bankruptcy as noted […]

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Fannie Mae: Mortgage Serious Delinquency rate declined in April, Lowest since September 2008

8:15 pm
Fannie Mae: Mortgage Serious Delinquency rate declined in April, Lowest since September 2008

Fannie Mae reported today that the Single-Family Serious Delinquency rate declined in April to 1.73% from 1.78% in March. The serious delinquency rate is down from 2.13% in April 2014, and this is the lowest level since September 2008. The Fannie Mae serious delinquency rate peaked in February 2010 at […]

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Western women stoke Islamic State fires

7:37 pm
Western women stoke Islamic State fires

  Luxury and revolution … female Isis supporters wearing niqabs pose with rifles and an expensive BMW car.The Islamic State is more than a way of finding a husband for those who sidestep authority to join it.  Western women are playing a crucial role in disseminating Isis propaganda and are […]

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Business Executives are NOT experts in Economics

7:00 pm
Business Executives are NOT experts in Economics

Excuse this pet peeve, but for some reason, when a business executive is interviewed on CNBC (and elsewhere), they are asked about economics in addition to their assumed areas of expertise. News flash: Business executives are NOT experts in economics (This should be called the “Jack Welch rule”). An example […]

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Chicago PMI Unexpectedly Crashes: New Orders, Production and Employment Down by More Than 10%

6:55 pm
Chicago PMI Unexpectedly Crashes: New Orders, Production and Employment Down by More Than 10%

Unexpected Chicago PMI Crash Looking for signs of strength? You will not find them in today’s Chicago PMI report. The Bloomberg Consensus estimate was for a 53.1 expansion reading. Instead, the PMI came in at 46.2, well below the bottom of the consensus range of 51.0 to 54.0. Readings below […]

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First Quarter GDP -0.7%; GDPNow Second Quarter Forecast +0.8%; Economists Get Zero Accolades; Smoothed Recession Odds

5:40 pm
First Quarter GDP -0.7%; GDPNow Second Quarter Forecast +0.8%; Economists Get Zero Accolades; Smoothed Recession Odds

First quarter GDP came in at -0.7% pretty much in line with the Bloomberg Consensus estimate of -0.8%. First-quarter GDP was revised down about as expected, to minus 0.7 percent vs expectations for minus 0.8 and compared with an initial reading of plus 0.2 percent. Updated source data made for […]

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Philly Fed: State Coincident Indexes increased in 40 states in April

5:00 pm
Philly Fed: State Coincident Indexes increased in 40 states in April

From the Philly Fed: The Federal Reserve Bank of Philadelphia has released the coincident indexes for the 50 states for April 2015. In the past month, the indexes increased in 40 states, decreased in six, and remained stable in four, for a one-month diffusion index of 68. Over the past […]

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Final May Consumer Sentiment at 90.7, Chicago PMI declines Sharply

2:14 pm
Final May Consumer Sentiment at 90.7, Chicago PMI declines Sharply

Click on graph for larger image. The final University of Michigan consumer sentiment index for May was at 90.7, up from the preliminary reading of 88.6, and down from 95.9 in April. This was close to the consensus forecast of 90.0. Chicago PMI May 2015: Chicago Business Barometer Back into […]

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Q1 GDP Revised Down to -0.7% Annual Rate

12:55 pm
Q1 GDP Revised Down to -0.7% Annual Rate

From the BEA: Gross Domestic Product: First Quarter 2015 (Second Estimate) Real gross domestic product — the value of the production of goods and services in the United States, adjusted for price changes — decreased at an annual rate of 0.7 percent in the first quarter of 2015, according to […]

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