Consumers showed a further disinclination to spend freely last week. Chain store sales were essentially unchanged w/w (3.6% y/y) and remained at the lowest level in two months. Sales in June are 3.9% below the high April average. [...]
Introducing
Tom Moeller
in:Our Authors
Prior to joining Haver Analytics in 2000, Mr. Moeller worked as the Economist at Chancellor Capital Management from 1985 to 1999. There, he developed comprehensive economic forecasts and interpreted economic data for equity and fixed income portfolio managers. Also at Chancellor, Mr. Moeller worked as an equity analyst and was responsible for researching and rating companies in the economically sensitive automobile and housing industries for investment in Chancellor’s equity portfolio. Prior to joining Chancellor, Mr. Moeller was an Economist at Citibank from 1979 to 1984. He also analyzed pricing behavior in the metals industry for the Council on Wage and Price Stability in Washington, D.C. In 1999, Mr. Moeller received the award for most accurate forecast from the Forecasters' Club of New York. From 1990 to 1992 he was President of the New York Association for Business Economists. Mr. Moeller earned an M.B.A. in Finance from Fordham University, where he graduated in 1987. He holds a Bachelor of Arts in Economics from George Washington University.
Publications by Tom Moeller
Global| Jun 20 2012U.S. Chain Store Sales Remain Low
by:Tom Moeller
|in:Economy in Brief
- Global| Jun 19 2012
U.S. JOLTS: Job Openings Pull Back
The rate of labor market improvement eased during April. The Bureau of Labor Statistics indicated in its Job Openings & Labor Turnover Survey (JOLTS) that the rate of 2.5% was down from the March high of 2.7%. Nevertheless, the latest [...]
by:Tom Moeller
|in:Economy in Brief
- Global| Jun 19 2012
U.S. Petroleum Prices Continue To Fall
Last week, the pump price of regular gasoline declined another four cents to $3.53 per gallon. Since early April prices have fallen forty one cents (-10.4%) and they've retraced nearly three-quarters of the run-up early this year. [...]
by:Tom Moeller
|in:Economy in Brief
- Global| Jun 19 2012
U.S. Housing Starts Decline Unexpectedly In May But Trend Improves
Last month, housing starts fell 4.8% to 708,000. The figure disappointed expectations for 725,000 starts. However, the picture for home building activity may have nevertheless brightened. The April level of starts was revised up to [...]
by:Tom Moeller
|in:Economy in Brief
- Global| Jun 18 2012
U.S. Home Builders Index Reaches Highest Since 2007
The National Association of Home Builders/Wells Fargo reported that its Composite Housing Market Index rose this month to 29 from a revised 28 in May, initially reported as 29. The latest figure was the highest since 2007. The index [...]
by:Tom Moeller
|in:Economy in Brief
- Global| Jun 15 2012
U.S. Consumer Sentiment Retrenches
The University of Michigan's Index of Consumer Sentiment for mid-June slumped to 74.1 from 79.3 in May. The latest figure was the lowest since December and compared to expectations for 77.5. The reading of consumer expectations fell [...]
by:Tom Moeller
|in:Economy in Brief
- Global| Jun 15 2012
U.S. Industrial Output Declines Broadly
Overall industrial output fell across most categories last month. Total production slipped 0.1% after an unrevised 1.0% April increase. The decline compared to Consensus expectations for 0.1% uptick according to Action Economics. A [...]
by:Tom Moeller
|in:Economy in Brief
- Global| Jun 15 2012
Empire State Factory Index Falls Sharply
The Empire State Factory Index of General Business Conditions for June retraced all of this year's improvement with a decline to 2.29 versus an unrevised 17.09 in May. Consensus expectations had been for improvement 14.0. Based on [...]
by:Tom Moeller
|in:Economy in Brief
- Global| Jun 14 2012
U.S. Initial Claims for Jobless Insurance Back Up
The recent slow pace of labor market improvement has eased some more. That's the message from the rise in initial claims for unemployment insurance to 386,000 during the week of June 9 from 380,000 in the prior week, revised up from [...]
by:Tom Moeller
|in:Economy in Brief
- Global| Jun 14 2012
U.S. CPI Led Lower By Energy Prices; Core Is Stable
Consumer prices fell 0.3% last month versus an expected 0.2% decline. The figure pulled the y/y increase to 1.7%, down from its peak of 3.9% last September. Prices less food and energy increased a steady and expected 0.2%, for the [...]
by:Tom Moeller
|in:Economy in Brief
- Global| Jun 13 2012
U.S. Mortgage Applications Jump
The Mortgage Bankers Association index of total mortgage applications surged 18.0% (62.4% y/y) last week to the highest level since early-2009. Applications to refinance jumped 19.2% (85.0% y/y) while home purchase applications [...]
by:Tom Moeller
|in:Economy in Brief
- Global| Jun 13 2012
U.S. Business Inventory Growth Decelerates
The U.S. Commerce Department reported that business inventories rose 0.4% during April. The modest gain lowered the y/y rise to 6.0%, its least since July of 2010. Business sales again rose 0.2%, but the y/y increase nonetheless fell [...]
by:Tom Moeller
|in:Economy in Brief
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