Economic statistics for 20 Sep 11
Today’s economic statistical releases:
ICSC-Goldman reports that retail sales fell by –1.2% for the latest week, though the year-on-year rate is on trend at 3.4%. Meanwhile Redbook’s same-store year-on-year sales came in at the low end of the trend at 4.1%.
Housing starts fell -5.0% in August to a lower-than-expected annualized pace of 0.571 million. But, building permits increased by 3.2%, signaling a bit more health in the future. Overall, housing still remains a drag on the larger economy.