Ignore all the month to previous month comparisons.
Posts Tagged june
Obama Housing Scorecard
Jul 20
The Obama Administration released the June Housing Scorecard today. The graphs are a little hard to read, but they do provide a list of sources. On modifications they provide a graph showing 2.95 million total modifications for Hope Now, HAMP, and FHA loss mitigation (page 3).
CR Note: Last month, housing economist Tom Lawler’s forecast was well below the consensus of 6.2 million (SAAR) for May and close to the actual reported existing home sales (he does a bottom up calculation every month, and he has been very close). Here is his preview for this month: The pace of existing home sales in June varied dramatically across the country in June, with some of the difference reflecting the pace of closings of contracts signed to beat the federal home buyer tax credit.
A quick summary of the week
Jul 17
NFIB Survey showed small businesses were more pessimistic in June Ceridian Diesel Fuel index showed a sharp decline in June The Census Bureau reported the trade deficit increased in May. The BLS reported low labor turnover in May.
The newest minutes from the June 22 to 23, 2010 FOMC meeting is a lowering of economic growth estimates from the Federal Reserve for the rest of 2010. The market has already reflected this in the June sell-off, and the market recovery so far in July has began to address a lower growth environment rather [[ This is a content summary only.
From the BLS : Total nonfarm payroll employment declined by 125,000 in June, and the unemployment rate edged down to 9.5 percent, the U.S. Bureau of Labor Statistics reported today. The decline in payroll employment reflected a decrease (-225,000) in the number of temporary employees working on Census 2010
Note: any number under 50 indicates that more builders view sales conditions as poor than good. Click on graph for larger image in new window. This graph shows the builder confidence index from the National Association of Home Builders (NAHB)
From the NY Fed: Empire State Manufacturing Survey The Empire State Manufacturing Survey indicates that conditions for New York manufacturers improved in June. The general business conditions index edged up from its May level to 19.6, extending its string of positive readings to eleven months. The new orders and shipments indexes were also positive and higher than their May levels.
Europe Update
May 30
NY Times editorial: The Transatlantic Crisis: Europe’s Endangered Banks … Several [European countries] have weak governments that may not be able to carry through the prescribed fixes
Orion Bank CEO Had a Plan …
Nov 15
In his comments with the Unofficial Problem Bank list , surferdude808 noted that the Federal Reserve issued a Prompt Corrective Action order against Orion Bank on Thursday. Orion was seized the following day by the FDIC.
