Free Markets, Free People
Economic Statistics for 31 Jan 12
Today’s economic statistical releases:
The Employment Cost Index rose 0.4% last month, 2% from last year, as wages are showing upward pressure at odds with the slow economy.
The Chicago Purchasing Manager’s index fell from 62.5 to 60.2 as Chicago area business conditions cooled slightly.
S&P Case-Shiller report their home price index shows continued erosion in prices, down -0.7% for the month on a seasonally adjusted basis. Remove the seasonal adjustments, and the picture is even worse, with the 20-city index down -1.3% for the month and -3.7% from last year.
The Consumer Confidence Index slid from 64.5 last month to 61.1 this month. The Conference Board says the estimate of current conditions is weak.
The State Street Investor Confidence Index fell to 92.4 from last month’s 99.3.
In weekly retail sales, ICSC-Goldman reports a lackluster 0.1% increase for the week, up 3.9% from last year. Redbook is also relatively muted in the January sales increase, coming in at 2% above last year.