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Despite many of you probably being off this week, and many already lining up the excuses to leave work early tomorrow , we actually have a fairly busy week on the economic calendar. PMI, ISM, Pending Home Sales, ADP, Gallup, and the June non-farm payroll number on Thursday (a day early) – on top of that markets close early on Thursday at 1pm, and July 4th holiday on Friday.
The GDP contraction of (2.9%) last week certainly was eye-opening, but most still believe it was an aberration and we are on the upswing from here on out – Let’s hope. Data has been mixed to date for 2nd quarter, and numerous analysts are revising numbers down – either way, looks like it will be a bumpy summer. The geo-political environment certainly does not add a comfort-level to the situation either.
Of course, being the birthday of our Nation, have to do the traditional holiday fun facts:
- On this day in 1776, the Continental Congress approved the Declaration of Independence, setting the 13 colonies on the road to freedom as a sovereign nation.
- 2.5 million – In July 1776, the estimated number of people living in the newly independent nation.
- 318.4 million – The nation’s estimated population on this July Fourth.
- 56 – Numbers of signers to the Declaration of Independence.
- $203.6 million – The value of fireworks imported from China in 2013, representing the bulk of all U.S. fireworks imported ($213.8 million). U.S. exports of fireworks, by comparison, came to just $10.2 million in 2013, with Israel purchasing more than any other country ($2.7 million).
- Fifty-nine places contain the word “liberty” in the name. Pennsylvania, with 11, has more of these places than any other state.
- 62.9 million – Total estimated number of hogs and pigs as of March 1, 2014. Chances are that the pork hot dogs and sausages consumed on the Fourth of July originated in Iowa. The Hawkeye State was home to an estimated 19.8 million hogs and pigs
- 6.1 billion pounds – Total estimated production of cattle and calves in Texas in 2013. There is a good chance that the beef hot dogs, steaks and burgers on your backyard grill came from the Lone Star State, which accounted for nearly one-sixth of the nation’s total production.
- According to the National Sausage and Hot Dog Council (NHDSC) Americans are expected to eat 150 million hot dogs over the July 4th holiday alone, part of the 7 billion hot dogs eaten over the summer season from Memorial Day to Labor Day.
- 11,000 – Number of fireworks-related injuries reported nationwide last year
Be safe.