CNBC - Sept 15
Applications for unemployment benefits continued to rise in the past week, while inflation pushed higher and a key manufacturing index weakened.
The weekly jobless claims number, which is closely watched as an indicator for employment trends, unexpectedly rose 11,000 to 428,000, well ahead of estimates of 411,000.
The consumer price index, meanwhile, gained 0.4 percent when including volatile food and energy prices, after an increase of 0.5 percent in July. The so-called core CPI, though, gained 0.2 percent, which was in line with expectations.
Consumers paid more for a range of goods and services last month, pushing up inflation and squeezing Americans' purchasing power.
For the 12 months ending in August, the core index surged 2 percent, the biggest year-over-year increase in nearly three years. That's at the top end of the Federal Reserve's informal inflation target. It could limit the central bank's ability to take further steps to try to revive the economy.
Food prices rose 0.5 percent, the biggest increase since March. That was due to higher prices for cereals and dairy products. Energy costs increased 1.2 percent.
"The large CPI gain in the face of weakening confidence, slowing consumer spending and softening production provides a poor backdrop for expansion," said Citigroup economist Steven C. Wieting in a note to clients.
Other indicators from a major government data release this moring also were not not encouraging: New York manufacturing activity contracted in September for the fourth consecutive month.
Seventeen percent (17%) of Likely U.S. Voters now say the country is heading in the right direction, according to a new Rasmussen Reports national telephone survey taken the week ending Sunday, September 11.
The latest finding is down a point from a week ago, up two points from a month ago but is down 13 points from a year ago. Since the third week in July, the number of voters who are confident in the nation's current course has resembled levels measured in the final months of the Bush administration. In that time, voter confidence has remained in the narrow range of 14% to 18%.
When President Obama assumed office in January 2009, optimism rose to 27% and climbed to the low to mid 30s – peaking at 40% -- until May 2009. That figure has steadily declined since.
Seventy-five percent (75%) of voters say the country is heading down the wrong track, showing little change from last week. Since January 2009, voter pessimism had ranged from a low of 57% to a high of 80%. This time last year, 65% said the U.S. was heading down the wrong path.
Most Republicans (91%) and voters not affiliated with either political party (79%) believe the country is heading down the wrong track. Even a majority (56%) of Democrats now say the country is heading in the wrong direction
Lonecowboy said:seems like a good place to post this:
Seventeen percent (17%) of Likely U.S. Voters now say the country is heading in the right direction, according to a new Rasmussen Reports national telephone survey taken the week ending Sunday, September 11.
The latest finding is down a point from a week ago, up two points from a month ago but is down 13 points from a year ago. Since the third week in July, the number of voters who are confident in the nation's current course has resembled levels measured in the final months of the Bush administration. In that time, voter confidence has remained in the narrow range of 14% to 18%.
When President Obama assumed office in January 2009, optimism rose to 27% and climbed to the low to mid 30s – peaking at 40% -- until May 2009. That figure has steadily declined since.
Seventy-five percent (75%) of voters say the country is heading down the wrong track, showing little change from last week. Since January 2009, voter pessimism had ranged from a low of 57% to a high of 80%. This time last year, 65% said the U.S. was heading down the wrong path.
Most Republicans (91%) and voters not affiliated with either political party (79%) believe the country is heading down the wrong track. Even a majority (56%) of Democrats now say the country is heading in the wrong direction
all of our growth has not been in the oil industry. What's the difference?
