It's The Economy Stupid: Retail Sales Higher, Producer Prices Lower

Some good news.  Let’s just ignore Europe for a moment.

 

Economic Event	Period	Economic Survey	Actual Reported	Original Prior	Revised Prior
Producer Price Index (MoM)	OCT	-0.1%	-0.3%	0.8%
PPI Ex Food & Energy (MoM)	OCT	0.1%	0.0%	0.2%
Producer Price Index (YoY)	OCT	6.3%	5.9%	6.9%
PPI Ex Food & Energy (YoY)	OCT	2.8%	2.8%	2.5%
Advance Retail Sales	OCT	0.3%	0.5%	1.1%
Retail Sales Less Autos	OCT	0.2%	0.6%	0.6%	0.5%
Retail Sales Ex Auto & Gas	OCT	0.2%	0.7%	0.5%
Empire Manufacturing	NOV	-2.00	0.61	-8.48
Business Inventories	SEP

 

 

U.S. retail sales rose more than projected in October as Americans snapped up electronics (iPhones) and demand for automobiles improved, giving the world’s largest economy a boost entering the final quarter of 2011.  The 0.5 percent gain followed a 1.1 percent increase for September, Commerce Department figures showed today in Washington. The median forecast of 81 economists surveyed by Bloomberg News was a rise of 0.3 percent. Purchases of electronics jumped by the most in two years.

 

The Federal Reserve Bank of New York’s Empire Manufacturing general economic index rose to 0.61, the first positive reading since May, and up from minus 8.5 in October. Economists projected the gauge would rise to minus 2, based on the median of 48 forecasts in a Bloomberg News survey. Readings higher than zero signal companies in the so-called Empire State Index, which covers New York, northern New Jersey, and southern Connecticut, are expanding.

 

Producer prices moderated with the actual Month on Month and Year on Year numbers coming in lower than economists expected.

 

 

 

Boudin Chaud. Cous Cous Froide. Allons Tigres--Poussez Poussez Poussez

 

John Broussard

Assistant State Treasurer

Chief Investment Officer

State of Louisiana

Department of the Treasury

Ph:  225-342-0013

Fx:  225-342-9721

Email:  jbroussard@treasusry.state.la.us

Street Address:

445 North Blvd, 7^th Floor

Baton Rouge, LA 70802

Mailing Address:

P.O. Box 44154 Capitol Station

Baton Rouge, LA 70804-4154

Physical Location:

One City Plaza, 7th Floor

Corner of North Blvd & 4th Street

Exit 1B I-110 Convention Street, Turn Left to get to North Blvd