Small Business Not as Optimistic as economists think they are.
Producer Prices higher than economists think they were.
Retail Sales are much higher than economists think they were.
PPI is UP. This should be a surprise to nobody.
The surprise was Retail Sales. They exceeded economists’ estimates across the board. This highlights two very important points:
- First and foremost, the consumer REALLY matters.
- Second, economists are really bad at predicting economic numbers.
NFIB Small Business Optimism
Producer Price Index (MoM)
PPI Ex Food & Energy (MoM)
Producer Price Index (YoY)
PPI Ex Food & Energy (YoY)
Advance Retail Sales
Retail Sales Less Autos
Retail Sales Ex Auto & Gas
Retail Sales "Control Group"