Ah, the never ending word gotcha games of Election 2012. The Internets went abuzz with binders as a symbol of female oppression after the second Presidential debate. We even have Amazon office binder reviews being carpet bombed with political statements. While funny as hell, economic oppression of women is not so funny. Nor is it a word game.
The September state employment statistics show a drop in unemployment rates yet little significant growth in actual jobs. Only six states had unemployment increases whereas 41 plus the District of Columbia showed declines. Below is a map of state's unemployment rates for September 2012.
NAR reported their September 2012 Existing Home Sales. Existing home sales decreased -1.7% from last month and inventories are down to a now tight 5.9 months of supply. Existing homes sales have increased 11.0% from a year ago. Volume was 4.75 million, annualized against August's revised up, from 4.82 to 4.83 million, annualized existing home sales.
The Federal Reserve's Industrial Production & Capacity Utilization report, G.17, shows a increase of 0.4% in industrial production for September 2012. This report is also known as output for factories and mines. Manufacturing increased 0.2%, mining 0.9% and utilities increased 1.5%. Oil and gas Gulf of Mexico rigs resuming are mentioned in the 0.9% output of mines increase.
The September 2012 Residential construction report showed Housing starts increased 15.0%, and from a year ago have soared 34.8%. September's housing start annualized levels were 872 thousand, whereas August's housing starts tallied to 758,000. In August, housing starts increased by a revised 4.1%.
The September Consumer Price Index increased 0.6% from August. The CPI measures inflation. This is the second month in a row for CPI to increase 0.6% and these jumps are the largest since June 2009. The reason again is gas with a 7.0% increase in the gasoline index for September and August's CPI jump was also caused by gas at the pump with a 9.0% increase in gasoline prices.
Many have heard various economic factions claim the employment situation is improving, that the drop in the unemployment rate is not due to millions no longer being counted in the statistics.
Once again the U.S. Treasury and President Obama have refused to label China a currency manipulator, this time by delaying their report on exchange rates until after the election. The excuses abound, with the claim the Treasury Department must assess progress via a G-20 meeting, scheduled conveniently in November, to oh gee, the administration doesn't want to start a trade war.
The U.S. August 2012 monthly trade deficit increased 4.1%, or $1.75 billion. July's trade deficit was revised upward by $462 million, which gives a 1.4% monthly increase for July's trade deficit instead of the reported no change. For August, exports decreased by -$1.91 billion, or -1.0%. Imports declined by -$845 million, or -0.4%.
In September, Producer Price Index, or wholesale inflation, increased 1.1% for finished goods and is the 2nd month in row for a jump. August PPI increased 1.7%. Gasoline again is the cause, with prices surging 9.8%. Gasoline was the culprit for 80% of the energy index ballooning by 4.7%. Food also increased by 0.2%. Core PPI, which are finished goods minus food and energy prices, had no change for the month.
Ah, the never ending word gotcha games of Election 2012. The Internets went abuzz with binders as a symbol of female oppression after the second Presidential debate. We even have Amazon office binder reviews being
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