Economic Statistics for 16 Nov 11
Today’s economic statistical releases:
Like the PPI yesterday, the CPI softened last month, down -0.1%, and up 3.6% year over year. The core rate rose 0.1% last month and 2.1% last year.
The Mortgage Banker’s Association reports that mortgage application dropped sharply in the latest week, down -12.2%.
Industrial production was up sharply, rising 0.7% last month, while capacity utilization rate rose to 77.8% in the nation’s factories.
The Housing Market Index rose to 20, the 3rd consecutive 3-point jump, and the highest reading in 18 months.
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Dale Franks
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WASHINGTON — A new wave of pessimism colored super committee talks on Tuesday as Senate Majority Leader Harry Reid (D-Nev.) blasted anti-tax crusader Grover Norquist for meddling with the panel’s progress and suggested that the American public “impeach” him.
I agree. Harry Reid should be impeached.
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