January personal consumption spending is projected to rise 0.4% over the previous month in tomorrow’s update, based on The Capital Spectator’s average econometric forecast. That compares with a reported 0.2% rise for December. Three consensus forecasts based on surveys of economists expect a lesser increase of 0.2% for January.
Daily Archives: February 28, 2013
A Weak GDP Revision & A Healthy Drop In Jobless Claims
The second estimate of fourth-quarter GDP for the US shows that the economy eked out a small gain in the final three months of 2012. The 0.1% increase for Q4 is a slight improvement over the 0.1% decline in the initial report. But as revisions go, this one’s close to insignificant. By contrast, today’s weekly jobless claims update offers more encouraging news. Good thing, too, since claims offer a more-timely read on the macro trend for the near term.
ISM Manufacturing Index: Feb 2013 Preview
The ISM Manufacturing Index is projected to rise to 53.7 in tomorrow’s February update, based on The Capital Spectator’s average econometric forecast. That reflects a modest rise above the 53.1 reading for January. By contrast, the consensus forecasts in three surveys of economists predict a modest decline for ISM’s February report.