Tuesday, January 14, 2014

It's The Economy Stupid: Economics - The Dismal Science

Economic Event

Period

Economic Survey

Actual Reported

Original Prior

Revised Prior

NFIB Small Business Optimism

Dec

93.1

93.9

92.5

--

Retail Sales Advance MoM

Dec

0.1%

0.2%

0.7%

0.4%

Retail Sales Ex Auto MoM

Dec

0.4%

0.7%

0.4%

0.1%

Retail Sales Ex Auto and Gas

Dec

0.3%

0.6%

0.6%

0.3%

Retail Sales Control Group

Dec

0.3%

0.7%

0.5%

0.2%

Import Price Index MoM

Dec

0.4%

0.0%

-0.6%

-0.9%

Import Price Index YoY

Dec

-0.6%

-1.3%

-1.5%

-1.9%

Business Inventories

Nov

0.3%

--

0.7%

--

 

Yesterday Federal Reserve Bank of Atlanta President Dennis Lockhart said the U.S. economy is on “solid footing” and he would support continued cuts to stimulus.  On the other hand yesterday economists surveyed by Bloomberg predicted retail-sales data would show sales growth slowed and were saying that may boost the case against faster cuts to the Fed’s bond-buying program.  You gotta love economists, they make meteorologists look brilliant!  Retail Sales data trounced economists’ estimates.  They weren’t even close. 

 

In other economic news Import Prices were unchanged in December and were down -1.3% for the year.  Also, Small Business were more optimistic about their business model in December.

 

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“Veni, vidi, vici, vino - I came, I saw, I conquered, I partied.”  ~ Julius Caesar’s black sheep brother

 

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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