Economic Statistics for 15 Nov 11
Today’s economic statistical releases:
A decline in energy prices resulted in a -0.3% drop in producer prices, with the core rate, which excludes food and energy, remaining unchanged last month. On a year-over-year basis, producer prices have risen 6.1%, with the core rate rising 2.8%.
Retail sales activity continued to increase in October, rising 0.5% overall, and 0.3% excluding auto sales.
The Empire State Manufacturing Survey edged back into positive territory for the first time since May, rising from -8.48 to 0.61. The six-month outlook is strengthening, with predictions of growth in new orders, which should, if it materializes, result in increased hiring as well.
Finally, in the two weekly retail sales reports, Redbook reports pre-Thanksgiving promotions helped boost store sales by 3.3%. ICSC-Goldman says sales rose 0.3% last week, up 3.21% from the year before.