shutdown notes for November 1st, et al

Major agency reports that were scheduled for release last week but not completed because of the government shutdown included the 1st estimate of 3rd quarter GDP and the September report on Personal Income and Spending, both from the Bureau of Economic Analysis, and the Advance report on durable goods for September and the September report on new home sales, both from the Census bureau…in addition, the Chicago Fed National Activity Index (CFNAI) for September, a weighted composite index of 85 different economic metrics, could not be completed because it uses source data from other agency reports which had not been completed…As of November 1st, the government has been shut down for a month, so we’ve now missed one each of the monthly agency reports ​that we’d normally see…

the week did see the release of the last two regional Fed manufacturing surveys for October: the Richmond Fed Survey of Manufacturing Activity, covering an area that includes Virginia, Maryland, the Carolinas, the District of Columbia and West Virginia, reported its broadest composite index rose from –17 in September to -4 in October, indicating that a much smaller plurality of that region’s manufacturers reported slower manufacturing activity this month, and the Dallas Fed Texas Manufacturing Outlook Survey, which covers Texas and adjacent western Louisiana and southeastern New Mexico, reported its general business activity index rose from -8.7 in September to –5.0 in October, similarly indicating that a smaller plurality of Texas area manufacturers continued to see deteriorating business conditions in October, even as they also reported that the production index was unchanged at +5.2, indicating that a small plurality of Texas area manufacturers increased production during the month…

The major privately issued report released this week was the widely watched Case-Shiller Home Price Index for August, an index generated by averaging repeat home sales prices from June, July and August against a January 2000 baseline, and which reported that their national home price index for those 3 months averaged 0.3% lower, before seasonal adjustment, than the index generated from May, June and July home sales prices, but was still 1.5% higher than their price index generated by repeat home sales prices during the June, July and August period of a year earlier...

 

 

(the above is the synopsis that accompanied my regular sunday morning news links emailing, which in turn was mostly selected from my weekly blog post on the global glass onion…if you’d be interested in receiving my weekly emailing of selected links, most of which are chosen from the aforementioned GGO posts, contact me…)   

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