Wednesday, November 20, 2013

It's The Economy Stupid: Lot's of Economic Stuff

Mortgage Apps, Retail Sales and CPI

 

Here’s the really significant number (that’s not so much):  CPI came in at 1.7% annual.  Like I said, it’s a significant economic number, but not a significant number.  At any rate, we’ve been stuck on 1.7% for a while.  The CPI number is not increasing, it’s not decreasing.  It’s 1.7%.  But let’s make sure we understand.  That still means that PRICES ARE INCREASING, that on average they are increasing at 1.7% annually.  Most of what you hear about inflation from the talking heads on TV is just noise. 

 

Mortgage Applications dropped 2.3%.  So -2.3% versus -1.8% in Mortgage Applications in the last two weeks.  Let’s hope it’s seasonal.

 

Retail Sales are basically moving along at the same rate of increase, 0.3% to 0.4%.  Let’s hope the November and December numbers are much better.

 

Economic Event

Period

Economic Survey

Actual Reported

Original Prior

Revised Prior

MBA Mortgage Applications

Nov 15

--

-2.3%

-1.8%

--

Retail Sales Advance MoM

Oct

0.1%

0.4%

-0.1%

0.0%

Retail Sales Ex Auto MoM

Oct

0.1%

0.2%

0.4%

0.3%

Retail Sales Ex Auto and Gas

Oct

0.2%

0.3%

0.4%

0.3%

Retail Sales Control Group

Oct

0.3%

0.4%

0.4%

0.3%

CPI MoM

Oct

0.0%

-0.1%

0.2%

--

CPI Ex Food and Energy MoM

Oct

0.1%

0.1%

0.1%

--

CPI YoY

Oct

1.0%

1.0%

1.2%

--

CPI Ex Food and Energy YoY

Oct

1.7%

1.7%

1.7%

--

CPI Core Index SA

Oct

234.938

234.877

234.589

--

CPI Index NSA

Oct

233.6

233.546

234.149

--

Existing Home Sales

Oct

5.14M

--

5.29M

--

Existing Home Sales MoM

Oct

-0.029

--

-0.019

--

Business Inventories

Sep

0.003

--

0.003

--

 

John Broussard

Assistant State Treasurer

Chief Investment Officer

State of Louisiana

Department of the Treasury

225-342-0013

jbroussard@treasury.state.la.us

 

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