August 24, 2011 - Durable Goods Orders...Better Than Expected......from Bloomberg

Orders for U.S. durable goods climbed more than forecast in July as a surge in demand for aircraft and autos eclipsed a decrease in business equipment, including computers and machinery.

Bookings for goods meant to last at least three years rose 4 percent, the most in four months, after falling a revised 1.3 percent in June, a Commerce Department report showed today in Washington. The median projection of 81 economists surveyed by Bloomberg News called for a 2 percent gain. Orders excluding the volatile transportation category, unexpectedly advanced 0.7 percent.

Automakers last month rebounded from the slump caused by the Japanese earthquake, while some manufacturers like Deere & Co. continued benefit from growing sales in emerging markets. Nonetheless, regional factory surveys have shown demand plunged in August as concern over the European debt crisis mounted and stocks retreated, indicating the outlook may have since dimmed.

August 23, 2011 - Fewer Banks On The Hit List......from NYTimes

The number of banks on the government's list of institutions most at risk for failure fell in the second quarter, the first drop since before the financial crisis began.

Twenty-three lenders came off the list of so-called problem banks during the second quarter, bringing the total to 865, according to data released Tuesday by the Federal Deposit Insurance Corporation. Not all of the 865 troubled lenders will inevitably fail, but the F.D.I.C. considers them most at risk, making the quarterly update one of the clearest barometers of the banking industry's health.

It was the first decrease in the number of problem banks since the third quarter of 2006.

August 19, 2011 - Consumers Paying Off Credit Cards......from MarketWatch

Moody's Investors Service said Friday that U.S. credit-card delinquencies hit an all-time low in July, with only 3.09% of credit card balances past due 30 days or longer. "Continuing improvement in delinquencies suggests that credit card charge-offs will resume falling in the coming months, after they ticked up 5 basis points in July to 6.09%," said Moody's in a statement. Moody's added that it expects the charge-off rate, which is reflective of accounts deemed uncollectible, to fall below 4% by the end of next year.

August 16, 2011 - Hope For Housing?......from WSJ

Home prices have fallen below "fair value" in one-third of nearly 130 housing markets examined in a study by real-estate firm Zillow Inc., raising concerns that some housing markets have over-corrected.

The Zillow analysis examined the relationship between home prices and annual incomes over the 15-year period that ended in 2000, before home prices began their spectacular run. Economists track the price-to-income ratio to gauge where housing is above or below "fair value."

"At a broad level, it is helpful to understand that if people in certain markets paid three times their average income in housing before the bubble, those markets are probably going to get back to that level," said Stan Humphries, chief economist at Zillow.

Consumers spent more on autos, furniture and gasoline in July, pushing up retail sales by the largest amount in four months.

The gain could signal that Americans are a little more confident and help dispel fears that the country is in danger of toppling into another recession.

The Commerce Department said Friday that retail sales rose 0.5% last month, best showing since a 0.8% advance in March. And the government revised sales higher in the previous two months. That suggests the economy was not as weak as previously believed.

August 11, 2011 - Jobless Claims At 4 Month Low......from Reuters

The number of Americans claiming new jobless benefits dropped to a four-month low last week, a sliver of hope for an economy that has been battered by a credit rating downgrade and falling share prices.

Initial claims for state unemployment benefits fell 7,000 to a seasonally adjusted 395,000, the Labor Department said on Thursday, the lowest level since the week ended April 2. That was below economists' expectations for a reading of 400,000.

"This could suggest that labor markets aren't rapidly deteriorating, even if it still doesn't shed much light on what's happening on the hiring side of the equation," said Sean Incremona, an economist at 4CAST in New York.

August 2, 2011 - Glimmer Of Hope For Housing?......from WSJ

The number of homes listed for sale declined sharply in a number of U.S. cities during the second quarter, offering glimmers of hope that some housing markets are starting to recover.

At the end of June, nearly 2.34 million homes were listed for sale on multiple-listing services in more than 900 metro areas, the lowest level for that time of year since at least 2007, according to Realtor.com. In some cases, inventory levels are at their lowest levels since the housing downturn began five years ago.

Shrinking inventory often is seen as a positive sign for housing because it usually means demand is rising, which often leads to higher prices. But in the current environment, the decline in inventory may instead reflect how the market remains anything but healthy. While sales are picking up in some cities, analysts say the sharp decline in inventory also reflects the slow pace at which banks are processing foreclosures.

July 28, 2011 - Jobless Claims Under 400,000......from MarketWatch

The number of people who filed for jobless benefits fell below 400,000 last week for the first time since early April, a decline likely aided by manufacturing workers returning to their jobs after plants were retooled.

New applications for U.S. unemployment compensation dropped by 24,000 to 398,000, the Labor Department said Thursday. Initial claims from two weeks ago were revised up to 422,000 from an original reading of 418,000.

Economists surveyed by MarketWatch had expected new requests for jobless benefits to fall to 413,000 in the latest week.