Economic Statistics for 14 Feb 12
The following statistics were released today on the state of the US Economy:
Despite strong core numbers, weak auto sales meant that retail sales were up a less-than-expected 0.4% for January. Ex-autos, retail sales rose 0.7%, and removing gasoline sales brings the core number to 0.6%.
In weekly store sales, ICSC-Goldman reports a weak -2.0% drop in sales, with the year-on-year rate at 2.8%. Redbook is also weak at a 2.7% same store sales increase from last year.
Export prices rose 0.2% for January, which is up 2.5% from last year. Import prices rose 0.3% for the month, and 7.1% for the year.
The NFIB Small Business Optimism Index rose very slightly to 93.9 in January.
The Ceridian-UCLA Pulse of Commerce Index fell 1.7% in January to a level of 93.17.
Business inventories rose 0.4% in December. Sales rose 0.7%, so the stock-to-sales ratio dropped to 1.26.
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Dale Franks
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http://www.france24.com/en/20120214-moodys-slashes-ratings-six-eurozone-nations-slovenia-slovakia-malta-italy-spain-portugal
Moody’s slashes ratings for six eurozone nations
Moody’s slashed the debt ratings of Italy, Spain and Portugal as well as Slovenia, Slovakia and Malta on Monday. France, Britain and Austria were warned that they were at increasing risk of downgrades due to the eurozone debt crisis.
Adjusted basis, rising from $399.9 billion in December to $401.4 billion in January, something rather odd happened in the Unadjusted data set: the plunge from $459.8 billion in December to $361.4 billion in January, or -$98.5 billion in one month, was the biggest one month drop in retail sales in history.
“The government had initially estimated that sales rose 0.1 percent in December, and on Tuesday it also revised downward its reading for retail sales in November. The revisions suggest consumers did not spend as much as previously thought during the holiday season”.
http://www.cnbc.com/id/46380390
More of that French wine, Quelle Surprise.
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