Free Markets, Free People
Economic Statistics for 15 Sep 11
Today’s economic statistical releases—and there are a number of them, none of them particularly good:
Consumer inflation remains a bit heated with the headline CPI increase at 0.4% for the past month, while the core rate—less food and energy—rose by 0.2%. On a year-over-year basis, inflation rose to 3.8%. worries about Stagflation are not eased by this report.
Business conditions in the New York manufacturing region continue to contract. The Empire State Manufacturing Index fell to -8.82 from last month’s –7.72.
Jobless claims jumped 11,000 in the September 10 week to an unexpectedly high 428,000. The four-week average rose 1,000 to 3.741 million.
Manufacturing slowed significantly in August, as industrial production rose only 0.2%, compared to last month’s 0.9%. Capacity Utilization also fell slightly, to 77.4%.
The nation’s current account deficit narrowed slightly in the second quarter to $118.0 billion.
The Bloomberg Consumer Comfort Index in the September 11 period was -49.3, near this year’s low of -49.4.
The Philadelphia Fed Survey indicates that business conditions in the Mid-Atlantic region continue to contract, with the General Business Conditions Index at –17.5.