Here are today’s statistics on the state of the economy:

February retail sales surged a strong 1.1%, with sales ex-autos up 1.0, and sales ex-gas and autos up 0.4%.

Oil prices caused a 1.1% surge in February import prices, while export prices rose 0.8%. On a year-over-year basis, export prices rose 1.5% while import prices fell -0.3%.

Business inventories rose an unexpected 1.0% in January, driving the stock to sales ratio up to 2.9, the highest of the recovery.

The MBA Reports mortgage applications fell -4.7% last week, with purchases down -3.0% and re-fis down -5.0%.

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Dale Franks
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