Food stamp rolls explode

 

Global Business Confidence:

The global economy has started 2011 strongly, according to the global business confidence survey. Sentiment is as strong as it has been since summer 2006, before the financial panic and Great Recession. Sales, equipment investment and hiring have all improved in recent weeks. Responses to the broadest questions in the survey regarding current conditions and the outlook through midyear are particularly positive. Businesses are more upbeat across most of the globe, with the exception of Japan. Pricing power remains modest and is not consistent with concerns that inflation is set to accelerate significantly.

 

Treasury Budget: -3%
The unified budget deficit for January was $50 billion. Through the first four months of fiscal 2011, the deficit was down 3% from last year. Although the budget deficit has been shrinking as the economy has recovered, it will widen again in 2011 with the fiscal policy agreement between President Obama and congressional Republicans.

 

Wholesale Trade (MWTR): +1.0%
Wholesale inventories rose 1% in December, surpassing the consensus estimate of a 0.7% increase. Sales advanced 0.4%. The inventory-to-sales ratio rose to 1.16.

 

Consumer Credit (G19): $6.1 bil
Consumer credit outstanding increased by a surprisingly strong $6.1 billion in December, reaching a total of $2.41 trillion. It was particularly noteworthy that revolving credit increased for the first time since August 2008, snapping a remarkable 27-month losing streak. Nonrevolving credit balances also rose, though at a slower pace than in the recent months.
 
Jobless Claims:-47,000
In a surprise, initial claims decreased by 36,000 to 383,000 for the week ending February 5; the prior week's data were revised from 415,000 to 419,000. This was the second large decline in a row; if sustained, it would suggest that the labor market is recovering faster. Continuing claims decreased by 47,000 to 3.888 million for the week ending January 29, though there remain millions more on extended and emergency benefits not counted in this figure.

Job Openings and Labor Turnover Survey: 21.0%
The JOLTS report for December, which straddles the December and January payroll employment releases, shows little progress for the labor market. The number of job openings edged lower, extending the prior month's modest dip. The number of hires has also lost some traction, receding slightly. Despite the small decline, the hires rate was unmoved at 3.2%. The number of separations nudged higher, pushed by both increasing quits and an uptick in layoffs. Like the hires rate, the small changes were not enough to move the separations rate, which also stands at 3.2%. Private sector hiring remains slightly stronger than separations, but hiring is not yet strong enough to drive robust job growth.

NAR Metro Prices:+ 0.2%
On a year-ago basis, the national median house price rose only slightly in the fourth quarter, even though total sales are down 19.5% over the same period. National prices increased 0.2% from last year, about the same as the 0.2% year-to-year decrease in the third quarter. Performance was mixed across regions: The Northeast is above year-ago levels, and the West is below. Meanwhile, the South and Midwest are unchanged. Similarly, at the metro level, performance was split: 71 out of 152 metro areas remain below year-ago levels

 

MBA Mortgage Applications Survey: 464.7
Mortgage applications declined this week with weakness showing in all three composite indices. The market index fell 5.5% from last week and is now at 464.7. The purchase and refinance indices decreased 1.4% and 7.7% this week, respectively. Both the purchase index and the refinance index have generally trended down since the beginning of January.

Chain Store Sales Snapshot: 2.2%
Chain store sales posted their first gain of calendar 2011 despite continued adverse weather. In the latest week, sales rose 2.2% according to the ICSC, reversing the declines of the prior two weeks. Year-over-year growth improved to 2.5%. Low sales volume tends to increase volatility and weather sensitivity at this time of year.
 

Oil and Gas Inventories: 345.1 mil barrels
Crude oil inventories rose by 1.9 million barrels during the week ending February 4, in line with expectations. Distillate inventories rose by 300,000 barrels, contrasting with expectations of a 1-million barrel decline, while gasoline inventories rose by 4.7 million barrels, above the expected 2.6-million barrel increase. Inventories fell by 900,000 barrels in Cushing OK. Refinery capacity utilization increased from 84.5% to 84.7%. Petroleum demand rose. This mixed report should push oil prices higher.
 

Natural Gas Storage Report: -209 bcf
Working gas in underground storage fell by 209 billion cubic feet during the week ending February 4, far exceeding the consensus estimate of a 196 bcf decline. This report will push natural gas prices higher.

 

Source: Economy.com

 

 

 

 

Create Assisted Living Facilities!
Assisted Living Conversion Program For Eligible Multifamily Housing Projects
POSTED: 1/24/2011
FUNDING SOURCE: HUD
ELIGIBILITY: Eligible multifamily housing developments specified in the RFP
$ AVAILABLE: $30,000,000
GRANTS AVAILABLE: N.A.
MAX GRANT SIZE: N.A.
DEADLINE: 3/29/2011
CONTACT INFORMATION: http://www.gpo.gov/fdsys/pkg/FR-2011-01-28/html/2011-1899.htm
DESCRIPTION: Grants for the physical conversion of eligible multifamily assisted housing projects or portions of projects to assisted living facilities (ALFs).

Grants for Native American Organizations!
Social and Economic Development Strategies for Native Americans (SEDS)
POSTED: 2/1/2011
FUNDING SOURCE: Administration for Native Americans
ELIGIBILITY: Tribes and Alaska Native entities
$ AVAILABLE: $7,850,000
GRANTS AVAILABLE: 36
MAX GRANT SIZE: $400,000
DEADLINE: 4/1/2011
CONTACT INFORMATION: http://www.acf.hhs.gov/grants/open/foa/view/HHS-2011-ACF-ANA-NA-0143
DESCRIPTION: Grants for a wide variety of economic or social development projects that will improve life outcomes for Native Americans and/or the self-governance ability of Native American Tribes and Alaskan Native entities. Most project concepts are eligible, with the exception of construction activities.

Improve Knowledge of American History!
Teaching American History Grant Program
POSTED: 2/2/2011
FUNDING SOURCE: Dept. of Education
ELIGIBILITY: LEAs
$ AVAILABLE: $2,000,000
GRANTS AVAILABLE: 80
MAX GRANT SIZE: N.A.
DEADLINE: 3/4/2011 (LOI); 4/4/2011 (final)
CONTACT INFORMATION: http://www.gpo.gov/fdsys/pkg/FR-2011-02-02/html/2011-2290.htm
DESCRIPTION: Grants to improve the teaching of American History through professional development for public school teachers.

HUD Service Coordinator Grants!
Service Coordinators in Multifamily Housing
POSTED: 1/25/2011
FUNDING SOURCE: HUD
ELIGIBILITY: Eligible subsidized housing developments
$ AVAILABLE: $31,000,000
GRANTS AVAILABLE: N.A.
MAX GRANT SIZE: N.A.
DEADLINE: 3/24/2011
CONTACT INFORMATION: http://www.grants.gov/search/search.do?mode=VIEW&oppId=66313
DESCRIPTION: Grants to owners of eligible subsidized housing developments to hire staff to coordinate supportive services for elderly residents and/or residents living with disabilities.