Economic Statistics for 14 Jul 15
The NFIB’s index of mall business optimism fell very sharply in June, down -4.2 points to 94.1 with 8 of 10 components falling.
Retail sales showed broad weakness in June, with sales falling -0.3% overall, -0.1 less autos, and -0.2% less autos and gas.
June export prices fell -0.2% while import prices fell -0.1%. On a year-over-year basis, prices fell -5.7% for exports, and -10.0% for imports.
Redbook reports that last week’s retail sales fell to 1.4% on a year-ago basis, from the previous week’s 2.0%. Today’s official retail sales numbers highlight the ongoing weakness in consumer spending, raising doubts about the strength of 2nd Quarter GDP growth.
Business inventories, rose 0.3% in May, while a sales increase of 0.4% kept the stock-to-sales ratio unchanged at 1.36.