Economic Statistics for 16 Oct 12
The following US economic statistics were announced today:
The Consumer Price Index rose 0.6%. The core rate, ex-food and –energy, rose 0.1%. On a yearly basis, the CPI rose 2.0%, and the core CPI also rose 2.0%.
Net capital inflows to the US were $90 billion in August, with strong demand for corporate bonds among foreign buyers.
US industrial production rose 0.4%, while capacity utilization rose o.1% to 78.3%. Manufacturing production only rose a sluggish 0.2%, which means it’s no longer providing much impetus for recovery.
The housing market index rose 1 point to 41, thanks to record low mortgage rates and rising consumer confidence.
In weekly retail sales, Redbook reports a soft year-over-year sales increase of 1.8%. ICSC-Goldman reports sales were unchanged in the latest week, and up 2.7% on a year-over-year basis, also a fairly soft number, though it’s been steady for the last month.
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Dale Franks
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Reading the Taiwan paper today, they had a section on state-run bank employees getting big bonuses, and how the little people were still stagnating, and they also discussed the negative savings rate. They carefully explained how inflation was higher than bank interest rates, so you would be losing money as you saved.
Am I just not reading regular media, or has this sort of thing been covered in our media as well? I figured out we had a negative interest rate last year and was pissed…somehow in my mind we had ZIRP because we were in deflation.
Well, now we have 2% inflation, so we are not deflating anymore, so what’s the plan Bernank? Just some asset pumping and inflation of the price of gas?
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