June Economic Indicators

The Lehmann Letter (SM)

This morning CNN/Money aired a report confirming the double-dip in home prices:

http://money.cnn.com/2011/05/31/real_estate/march_home_prices/index.htm

The story began: “Home prices hit another new low in the first quarter, down 5.1% from a year ago to levels not reached since 2002.”

The article went on to state that there is no end in sight to the decline and that falling prices depress home building because developers can’t compete with low-price existing homes.

No doubt buyers and builders have pulled back, waiting to see where and when the market stabilizes.

As this letter has said more than once, economic expansion can’t go forward at a healthy pace until residential construction turns around.

We’ll stay abreast of developments in June by watching the following.

ECONOMIC INDICATOR PUBLICATION SCHEDULE

June 2011

Source (* below)……Series Description……Day & Date

Quarterly Data

BLS….Productivity & Costs…………Thu, 2nd
BEA…International Transactions…Thu, 16th
BEA…….GDP & Corp. Profits…..……Fri, 24th


Monthly Data

ISM..Purchasing managers’ index…Wed, 1st
BLS………….Employment………… Fri, 3rd
BEA.New-vehicle sales.(Approximate).Mon, 6th
Fed…Consumer credit..(Approximate).Tue, 7th
Census…….......Inventories…….... Tue, 14th
BLS………….Producer prices……. Tue, 14th
BLS………….Consumer prices.….. Wed, 15th
Fed……….Capacity utilization……….Wed, 15th
Census…….…..Housing starts…….Thu, 16th
Conf Bd…….Leading indicators….Fri, 17th
NAR………Existing-home sales….Tue, 21st
Census……..New-home sales…...Thu, 23rd
Census……….Capital goods…….. Fri, 24th
Conf Bd….Consumer confidence.. Tue, 28th

*BEA = Bureau of Economic Analysis of the U.S. Department of Commerce
*BLS = Bureau of Labor Statistics of the U.S. Department of Labor
*Census = U.S. Bureau of the Census
*Conf Bd = Conference Board
*Fed = Federal Reserve System
*ISM = Institute for Supply Management
*NAR = National Association of Realtors

© 2011 Michael B. Lehmann