Economic Statistics for 13 Feb 13
Here are today’s statistics on the state of the economy:
January retail sales rose only 0.1%. Sales ex-autos rose 0.2%, as did sales ex-autos and ex-gas.
Business inventories rose 0.1% in December, but a slightly higher rate of business sales brings the stock-to-sales ratio down a tick to 1.278.
Import prices jumped 0.6% in January on higher energy prices, but were down -1.3% from last year. Export prices rose 0.3% in January, up 1.1% from last year.
The MBA reports mortgage applications fell -6.4% in the latest week, with purchases down -10.0%, and re-fis down -6.0%.
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Dale Franks
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Overall U.S. import prices rose by a m/m 0.6% in January, which compared to a median forecast of +0.8%. Earlier results were a 0.5% decline in December, a 0.7% decline in November, and a 0.3% rise in October.