Weekly Economic Update: October 29 - November 2, 2012

Nov 05 2012

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The economy added 171,000 jobs in October as the unemployment rate rose to 7.9%. The ISM index edged up 0.2 points to 51.7 in October. Personal income increased 0.4% in September as personal spending rose 08%. Productivity advanced 1.9% in the 3rd quarter of 2012. The Case-Shiller home price index was up 0.5% in August. Construction spending increased 0.6% in September. Factory orders were up 4.8% in September. Auto sales fell 4.4% in October. Initial jobless claims fell 9,000 to 363,000 for the week ended 10/27.

• The economy added 171,000 nonfarm payroll jobs in October as the unemployment rate increased to 7.9%. The labor force increased by 578,000. The private sector added 184,000 jobs as government employment fell by 13,000.

• The ISM index edged up 0.2 points to 51.7 in October.

• Personal income rose 0.4% in September as personal spending increased 0.8%.

• Productivity increased 1.9% in the 3rd quarter of 2012. This follows a downwardly revised increase of 1.9% in the 2nd quarter.

• The Case-Shiller home price index was up 0.5% for the month of August and up 2.0% from a year ago. The Washington, DC component of the index was up 0.5% in August and up 4.3% from a year ago.

• Construction spending increased 0.6% in September.

• Factory orders rose 4.8% in September. This follows a drop of 5.1% in August.

• Auto sales fell 4.4% in October to an annual pace of 14.29 million units. Sales were up 7.2% from a year ago.

• Initial jobless claims declined 9,000 to a level of 363,000 for the week ended October 27th.

 

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