The total number of operating rigs in the U.S. the week as of March 6th was 1,003,000 oil and 194 gas. In percentage terms, on a month on month, (m/m) basis, oil rigs were up 2.2%, (+22 rigs) and gas up 7.2% (+13 rigs). On a year on year, (y/y) comparison, rigs were up +21.7% [...]
The pace of U.S. economic growth accelerated in February as the CFNAI surged by 0.88, up from a +0.02 rise in January. On a three month moving average, (3MMA) basis the CFNAI was higher by +0.37. This was the sixth consecutive month of positive readings. There were strong contributions from the production and income component [...]
The Consumer confidence index rolled-back 2.3 points in March according to the Conference Board. The index now stands at 127.7. Despite the decline, the index remains at elevated levels with a positive trend line. Businesses report being somewhat more pessimistic about current conditions as expectations fell across the board. On the other-hand, the labor market [...]
Data from the Bureau of Economic Analysis (BEA), shows that total light (cars and light truck/SUVs), vehicle sales in January were at a seasonally adjusted annual rate, (SAAR) of 17.505 million (M), units, down 724,000 units or 4.0% from December. On a three month moving average (3MMA), basis sales were tracking at 17.867M, down 1.7% [...]
Businesses have a mountain of jobs to fill, another data point on just how strong the economy is at the present time. Job openings increased to 6.31 million, (+645,000) on the last business day of January according to the Bureau of Labor Statistics. Of the increased openings, 608,000 were in the private sector. The job [...]
The economy created 313,000 jobs in February greatly exceeding analysts’ expectations. There were good gains in both construction and manufacturing. The total number of seasonally adjusted (SA), non-farm people employed in the U.S. in February was 148.177 million (M), an increase of 0.21% month on month, (m/m). Over the past 12 months the U.S. economy [...]
February seasonally adjusted, (SA) initial claims for unemployment insurance rose by 21,000 to 231,000. Despite the increase the total remains near the lowest level in nearly 50 years. The non-seasonally adjusted, (NSA) four week moving average (4WMA) was 216,850, 7.9% lower than for the same period last year. Layoffs are low and hiring statistics continue [...]
Total non-seasonally adjusted, (NSA) nonfarm payroll employment increased by 313,000 in February and the December and January figures were revised higher, to 175,000 and 239,000 respectfully. A total of 148,177,000 people were employed in non-farm jobs as the unemployment rate held steady according to the U.S. Bureau of Labor Statistics, (BLS) report. Employment growth has averaged [...]
Consumer credit continued to climb but the pace of growth has slowed somewhat. Total consumer credit increased by $13.9 billion, (B) in January, well below the consensus estimate of $17.8B. Non-revolving credit advanced by $13.2B or 95% of the gain, while revolving credit moved-up by just $0.7B, its lowest level since July 2103. On a [...]
The Baltic Dry Index (BDI), for February tumbled 123 points to 1,125 month on month (m/m), a 10% decline. Changes on a m/m comparison can be exhibit wild swings as was the case in February. Looked at on a three month moving average, (3MMA) comparison the BDI fell 7.7% to 1,309 m/m. On a 3MMA [...]
