Free Markets, Free People
Economic Statistics for 27 Sep 11
Today’s economic statistical releases:
ICSC Goldman reports retail sales slowed for the 2nd consecutive week, down 0.2% for the week, with the year-on-year rate down to 2.7%. Meanwhile, Redbook reports slightly below trend retail sales growth of 4.2%.
The S&P Case-Shiller Home Price Index held steady for the last week, with no change in prices from last month, on a seasonally-adjusted basis. Year-over-year, however, the price index is down -4.1%.
The State Street Investor Confidence Index, despite a rough couple of weeks, shows a boost in confidence to 89.9 from August’s revised 88.1.
The Richmond Fed Manufacturing Index shows the third consecutive drop to -6 from last month’s -10, as manufacturing in the Richmond Fed’s district continues to contract.
The Consumer Confidence Index rose to 45.4 from 44.5 last month. Despite this, consumers report deteriorating current conditions, which bodes ill for the September employment report. On the other hand, the 6-month outlook rose, while inflation expectations fell, bringing the overall index higher.