Succinct Summations for the week ending October 2nd, 2015
- The S&P 500 just completed its best month since October 2010.
- ECI rose 0.6%, in line with estimates.
- Chicago PMI rose 50 56.2, up from 48.7 previously.
- Initial jobless claims came in at 260k; the 4-week average is down to 259.25k.
- U.S. GDP grew at a 1.5% annualized pace in Q3.
- Consumer confidence fell to 97.6, below expectations and down from 103 previously.
- Mortgage applications fell 3.5% w/o/w.
- UofM consumer sentiment fell to 90, below consensus and down from 92 previously.
- Personal income rose just 0.1% m/o/m
Deflation in EU
Do you put that in the positive or negative list
I would put that in the negative. If Japan and EU are stuck in a deflationary trap they will be a lot more likely to pull us with them than to pull us out when our policy makers dunk us into one.
On the other hand individuals with a lot of cash may like deflation (at least in the short run).