Free Markets, Free People
Economic Statistics for 15 May 12
The week’s economic calendar kicks off today, which also brings us the largest crop of the week’s releases.
ICSC-Goldman reports mixed retail sales, with a weekly sales decrease of -0.8%, but a sharp increase of 4.5% in the year on year rate. Meanwhile, Redbook reports a year on year retail sales increase of 3.7%, the strongest in six weeks.
The Consumer Price Index was unchanged for April, as energy prices declined. Ex-food and energy, the core rate of inflation rose 0.2%.
The government’s report of retail sales shows a 0.1% sales increase in April. The same rate holds ex-autos and ex-autos and gas.
The New York Fed reports the Empire State Manufacturing Survey’s index on general business conditions rose more than 10 points to 17.09.
March business inventories rose a bit slower than in February, rising by 0.3%. A rise in sales trimmed the stock-to-sales ratio to 1.27, making March inventories look quite healthy.
The Treasury reports net capital inflows of $36.2 billion in March on foreign purchases of $22.3 billion of US securities and $13.9 billion in sales of foreign securities.