Economic News 06/13/06
In our top story tonight, the leader of al-Qaida in Iraq, Abu Musab al-Zarqawi, is STILL dead.
May Retail Sales a tepid +0.1%
Inside the number: Sales have slumped since pump prices increased. Sales at gasoline stations the driving force +1.9%. Ex gasoline retail sales -0.1% vs prior +0.3%. The consumer is pulling back with less discretionary cash. Full Report
April business inventories +0.4%, sales +0.6%
Inside the number: inventory to sales ratio 1.26 just above the all time low 1.25. Over the last 12 months sales +7.5%, inventory +4.1%.
Is the housing market slowing down? Sales of building materials, garden equipment and supplies -2.1%. Full Report
May PPI +0.2% vs prior +0.9%
Inside the number: more evidence of energy and basic materials pass through stagflation in the supply chain as Core PPI ex food & energy +0.3% vs prior 0.1% Core PPI boosted by pharmaceuticals +1.9%.
Crude basic materials prices +6.2%, nonferrous scrap +16% , the biggest gain in 29 years. Nonferrous metal ores prices +12%, the most in 22 years.
Materials for durable goods manufacturing +4.4%. Core intermediate PPI, +6.3% in the past year, the fastest gain in a year. Full Report
May Retail Sales a tepid +0.1%
Inside the number: Sales have slumped since pump prices increased. Sales at gasoline stations the driving force +1.9%. Ex gasoline retail sales -0.1% vs prior +0.3%. The consumer is pulling back with less discretionary cash. Full Report
April business inventories +0.4%, sales +0.6%
Inside the number: inventory to sales ratio 1.26 just above the all time low 1.25. Over the last 12 months sales +7.5%, inventory +4.1%.
Is the housing market slowing down? Sales of building materials, garden equipment and supplies -2.1%. Full Report
May PPI +0.2% vs prior +0.9%
Inside the number: more evidence of energy and basic materials pass through stagflation in the supply chain as Core PPI ex food & energy +0.3% vs prior 0.1% Core PPI boosted by pharmaceuticals +1.9%.
Crude basic materials prices +6.2%, nonferrous scrap +16% , the biggest gain in 29 years. Nonferrous metal ores prices +12%, the most in 22 years.
Materials for durable goods manufacturing +4.4%. Core intermediate PPI, +6.3% in the past year, the fastest gain in a year. Full Report
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