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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