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%.