Key Economic Indicators – November 14, 2016

  • Sales of merchant wholesalers, except manufacturers’ sales branches and offices, after adjustment for seasonal variations and trading-day differences but not for price changes, were $444.9 billion in September, up 0.2% from August, and up 0.4% from September 2015, according to the U.S. Census Bureau.  Inventories were up 0.1% from the previous month, but were down 0.1% from September 2015. The September inventories/sales ratio was 1.33, same as in September 2015.
  • Consumer credit increased at a seasonally adjusted annual rate of 6.3% in September. Revolving credit increased 5.2%, while non-revolving credit increased 6.7%.
  • The federal budget had a deficit of $44.2 billion in October, following a surplus of $33.4 billion in September. The deficit was $136.6 billion in October of 2016.
  • The number of job openings was little changed at 5.5 million on the last day of September, according to the U.S. Bureau of Labor Statistics. Hired edged down to 5.1 million and total separations was little changed at 4.9 million.
  • The advance figure for initial claims for unemployment insurance was 265 thousand in the week ending October 29, an increase of 7 thousand from the previous week’s unrevised level. The 4-week moving average was 257.75 thousand, an increase of 4.75 thousand from the previous week’s unrevised average.
  • The results of Freddie Mac’s Primary Mortgage Market Survey showed mortgage rates rising. 30-year fixed-rate mortgage averaged 3.57% for the week ending November 10th, up from last week when it averaged 3.54%.  A year ago at this time, the 30-year fixed-rate mortgage averaged 3.98%.
  • Mortgage applications decreased 1.2% from a week earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending November 4th.
  • The Thomson Reuters/University of Michigan Index of Consumer Sentiment rose to 92.6 in early November.


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