Economic Statistics for 11 May 12
The following statistics were released today on the state of the US economy:
The Reuters/University of Michigan consumer sentiment index rose to 77.8.
The Producer Price Index fell -0.2% last month, and is up 1.9% from last year. The core rate, ex-food and energy, rose 0.2% for the month and 2.8% for the year.
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Dale Franks
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What’s the subject today? Not the economy …
While President Obama tries to keep the subject on anything but the economy (and I think he miscalculated on the gay marriage thing), the economy continues to take its toll whether the center of media attention or not.
Americans are growing more pessimistic about the economy and handling it remains President Barack Obama’s weak spot and biggest challenge in his bid for a second term, according to a new Associated Press-GfK poll.
And the gloomier outlook extends across party lines, including a steep decline in the share of Democrats who call the economy "good," down from 48 percent in February to just 31 percent now.
And yet we’re engaged in discussions about whether Romney was a bully and Obama was bullied or gay marriage.
The economy is the No. 1 issue in the presidential race, thanks to the deepest economic downturn since the Great Depression and one of the shallowest-ever recoveries.
While the recession officially ended in summer 2009, unemployment remains stubbornly high, at 8.1 percent in April. Some 12.5 million Americans are out of work.
The increasing skepticism toward the recovery tracks a weakening overall economy as measured by the gross domestic product, and matches economic growth downgrades by many economic forecasters.
We keep hearing the “economy is the No. 1 issue in the presidential race” but we rarely hear about it in that regard.
Instead we’re continually diverted and distracted by the latest “issue du jure”.
You’d almost think it was a strategy.
Forward.
~McQ
Twitter: @McQandO



