Free Markets, Free People
Economic Statistics for 13 Dec 11
Today’s economic statistical releases:
November retail sales weren’t as strong as expected, rising 0.2% both overall, and ex-autos. On a year-over-year basis, retail sales were up 6.6%. Despite the rather disappointing November sales, both September and October sales were revised upwards.
The post-Black Friday sales slump continued last week. Redbook reports that the year-on-year same-store sales rate slowed by -0.3% to 2.9% this week. Similarly, ICSC-Goldman Store Sales are slowing, just like Redbook, with sales down -2.3% last week, and up only 2.8% year-over year.
Business inventories continue to build at a moderate rate, up 0.8% last month. The stock-to-sales ratio is unchanged at 1.27, as inventory build-up continues to match the rate of sales.
The NFIB Small Business Optimism Index indicates easing pessimism among businesses, with the index up 1.8 points to 92.0.
The Ceridian-UCLA Pulse of Commerce Index rose only 0.1% in November, to 94.84. The index is only up 0.9% over last November.