Free Markets, Free People

Economic Statistics for 13 Apr 16

The Fed’s Beige Book reports today that US economic growth remains modest to moderate, though the labor market continues to grow.

March retail sales fell a disappointing -0.3%, though sales less autos rose 0.2% and sales less autos and gas rose 0.1%.

Producer Prices for Final Demand fell -0.1% in March. Prices less food and energy fell -0.1%, and prices less food, energy, and trade services were unchanged. On a year-over-year basis, PPI-FD is down -0.1%, Prices less food and energy are up 1.0%, and prices less food, energy, and trade services are up 0.9%.

Business inventories fell -0.1% in February, but a -0.4% drop in sales kept the stock-to-sales ratio at a high 1.41.

The Atlanta Fed Business Inflation Expectations outlook for the next 12 months dipped -0.1% to 1.7% in April.

The MBA reports that mortgage applications, driven by interest rate drops, rose 10.0% last week, with purchases up 8.0% and refis up 11.0%.


Dale’s social media profiles:
Twitter | Facebook | Google+

Tweet about this on TwitterShare on FacebookShare on Google+Share on TumblrShare on StumbleUponShare on RedditPin on PinterestEmail this to someone

One Response to Economic Statistics for 13 Apr 16

  • Rep. George Miller (D-Calif.), another architect of ObamaCare, hailed the law as a historic achievement and strongly disagreed with Schumer and Harkin.
    “Healthcare has been a subject of debate in this country for a hundred years, and when you had the opportunity to rationalize the system and to get people covered who were never covered, you have to take that opportunity,” he said.

    Indeed, based on the CBO’s own numbers, it seems possible that Obamacare has actually reduced the number of people with private health insurance. In 2013, the CBO projected that, without Obamacare, 186 million people would be covered by private health insurance in 2016—160 million on employer-based plans, 26 million on individually purchased plans. The CBO now says that, with Obamacare, 177 million people will be covered by private health insurance in 2016—155 million on employer-based plans, 12 million on plans bought through Obamacare’s government-run exchanges, and 9 million on other individually purchased plans (plus a rounding error of 1 million).

    In other words, it would appear that a net 9 million people have lost their private health plans, thanks to Obamacare—with a net 5 million people having lost employer-based plans and a net 4 million people having lost individually purchased plans.

    Schumer, meanwhile, in 2010 said, “I predict … by November those who voted for healthcare will find it an asset; those who voted against it will find it a liability.”