Free Markets, Free People
Economic Statistics for 12 Jun 12
The following statistics were released today on the state of the US economy:
A strong dollar—thanks to trouble in the Euro Zone—is keeping imported inflation restrained. Export prices fell -0.4% in May, down -0.1% on a year-over-year basis. Import prices fell -1.0% for the month, and -0.3% year-over-year, both due to falling agricultural prices, and petroleum-related supplies.
In weekly retail sales, Redbook reports a weak 2.0% rise in same-store sales, one of the weakest readings of the recovery. Meanwhile, ICSC-Goldman reports same-store sales down -0.7% for the week, and up 2.9% on a year-over-year basis, which is right on trend.
The NFIB Small Business Optimism Index fell -0.1 point to 94.4, with the report saying that there are no signs business will pick up this year. Expectations for future sales are the lowest for a recovery since 1973.