Economic Statistics for 14 Sep 12
Here are today’s statistics on the state of the economy:
The Consumer Price Index rose sharply, up 0.6% for the month, though the year-over-year inflation rate is 1.7%. The core CPI, ex-food and –energy, rose just 0.1% last month, and 1.7% on a year-over-year basis.
Business inventories rose 0.8% in July, while sales rose 0.9%, trimming the stock-to-sales ratio down to 1.28.
The Reuter’s/University of Michigan’s consumer sentiment index rose a sharp 4.9 points to 79.2.
The Fed reports that industrial production declined by -1.2% last month, erasing the previous two month’s production increases. Capacity utilization at the nation’s factories fell -1.0% to 78.2% from 79.2 percent.
Retail sales jumped 0.9% in August, and sales less cars were up 0.8%. But, sales less gas and cars only rose 0.1% showing underlying weakness in the headline number. On a year-over-year basis, sales were up 4.7%. When taking prices into effect, sales were soft for the month.