Economic Reports 03/13/07
Summary: The Treasury Budget balloning to a record, deficit spending twice as much as they take in... a 10 Year Note Auction later today to finance the spending.
Speaking of spending... will John Q Public save the day?? Retail Sales falling at the fastest rate since Hurrican Katrina 3 years ago...Business inventories balloning to a two year high while sales continue to decline...
Treasury Budget Feb -$120B vs prior -$119.2B
Inside the number: A new February record, this fiscal year the deficit $162.2 B, down about 26% from $218 B in the same period a year ago. Receipts +7%, outlays +4%.
Retail Sales Feb +0.1% vs prior 0.0% Full Report
Inside the number: Retail Sales ex-auto Feb -0.1% vs prior +0.3%, the fastest drop in 3 years. Sales at restaurants and bars -1.2%, the biggest drop since September 2003.
The good news... YoY Sales +3.2%, the bad news... YoY Building Material Sales -7%
Business Inventories Jan +0.2% vs prior 0.0% Full Report
Inside the number: Sales falling -0.7% while inventories rise +0.2%. In the past year sales +1.9% while inventories stack up +5.7%.
Retail auto inventories rose 0.6% while sales fell 0.9%. A silver lining in the clouds?? ex auto, retail inventories were flat, while sales rose 0.4%.
Dark Shadows?? unadjusted sales numbers: Merchant wholesalers -0.9%; manufacturers -6.7%; total business -10.3%; retailers -21.9%. Better hope its the weather...
Speaking of spending... will John Q Public save the day?? Retail Sales falling at the fastest rate since Hurrican Katrina 3 years ago...Business inventories balloning to a two year high while sales continue to decline...
Treasury Budget Feb -$120B vs prior -$119.2B
Inside the number: A new February record, this fiscal year the deficit $162.2 B, down about 26% from $218 B in the same period a year ago. Receipts +7%, outlays +4%.
Retail Sales Feb +0.1% vs prior 0.0% Full Report
Inside the number: Retail Sales ex-auto Feb -0.1% vs prior +0.3%, the fastest drop in 3 years. Sales at restaurants and bars -1.2%, the biggest drop since September 2003.
The good news... YoY Sales +3.2%, the bad news... YoY Building Material Sales -7%
Business Inventories Jan +0.2% vs prior 0.0% Full Report
Inside the number: Sales falling -0.7% while inventories rise +0.2%. In the past year sales +1.9% while inventories stack up +5.7%.
Retail auto inventories rose 0.6% while sales fell 0.9%. A silver lining in the clouds?? ex auto, retail inventories were flat, while sales rose 0.4%.
Dark Shadows?? unadjusted sales numbers: Merchant wholesalers -0.9%; manufacturers -6.7%; total business -10.3%; retailers -21.9%. Better hope its the weather...
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