Free Markets, Free People

Economic Statistics for 15 Mar 16

Producer Prices for Final Demand fell -0.2% in February, were unchanged less food and energy, and up 0.1% less food, energy, and trade services. On a Year-over-year basis, prices were unchanged overall, up 1.2% less food and energy, and up 0.9% less food, energy, and trade services.

Retail sales fell -0.1% in February, both at the headline level, and less autos. Sales less autos and gas rose 0.3%.

After 7 months of contraction, the Empire State Manufacturing survey rose from -16.64 to 0.62 in March.

Business inventories rose an unwanted 0.1% in January, while a -0.4% drop in sales drove the stock to sales ratio to a hefty 1.40, the highest since May 2009.

The Housing Market Index was unchanged at 58 in March.

Foreign Demand for Long-Term U.S. Securities fell -12.0 billion in January, mainly on sales of US Treasuries.

Redbook reports that last week’s retail sales fell to 0.6% on a year-ago basis, from the previous week’s 0.7%. Sales remain weak.

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