Free Markets, Free People
Economic Statistics for 17 May 12
The following statistics were released today on the state of the US economy:
The Philadelphia Fed Survey shows a dramatic slowdown in that district, with the headline index falling from 8.5 to -5.8. Delivery times, inventory, and unfilled orders all fell steeply, as did the 6-month confidence assessment. Input costs were little changed and prices received were actually contracting, a sign of decreasing demand.
Initial claims are unchanged this week from last week’s revised 370,000. The 4-week moving average fell to 375,000 from last week’s 379,750.
The Bloomberg Consumer Comfort Index fell to -43.6, its lowest level since January, as pessimism about personal finances and spending increased.
E-Commerce Retail Sales rose 3.1% in the 1st quarter, from 4th Quarter 2011. Year on year sales rose 15.1%. Online sales made up 4.9% of total retail sales.
The Index of Leading Economic Indicators, designed to predict economic activity over the next 6 months, declined by -0.1%. Building permits, jobless claims, and consumer expectations were the big negatives in the report.