Economic Reports 03/16/07
Summary: For those who can handle the truth... by ferreting out the ugly details... the Nattering One peels the lipstick off and exposes the pig in a poke...
Along with housing, economy and stock market... consumer sentiment down. CPI showing raging stagflation...
Industrial Production rebounding and Capacity Utilization rising... the rise on a cold weather utility spike...
the numbers show that manufacturing is at a standstill while construction activity continues to shrink and the last vestiges of automotive get emasculated...
Mich Sentiment-Prel. Mar 88.8 vs prior 91.3 ho hum...
CPI Feb +0.4 vs prior +0.2% Full Report
Inside the number: Core CPI Feb +0.2% vs prior +0.3%. Food prices up for the 2nd straight month, +0.8%, the largest gain in 2 years.
Annualized over the last 3 months: Food +6.1%, Services 6.8%, Medical care +6%, Energy +14.9%
Fresh fruit +5.7%, the most in 19 years, fresh vegetables +5.7%. Medical care +0.5%, Physician services and hospital services +0.6%. Airfares +0.9%, Tobacco +1%.
Apparel prices +0.5% and 2.1% in the last year, highest increase in 14 years.
Industrial Production Feb +1.0% vs prior -0.3% Full Report
Inside the number: Capacity Utilization Feb 82% vs prior 81.4%.
Utility output +6.7% the biggest jump since 1989 as cold weather saw an 11% spike in natural gas output and 5.9% jump in electric output.
Construction -0.6% and Yoy -2.5%. Home appliances, furniture, carpeting and miscellaneous goods all declined. Crude stage capacity utilization slipped 0.2%.
Manufacturing output +0.4%, on a rebound of +3.2% in the output of automotive products which was led by an increase in the production of light trucks.
However, there was a decline in the production of transit equipment -0.2% and the output of nondurable manufacturing slipped -0.2%.
How much damage will the final emasculation of automotive manufacturing cause? This month, excluding motor vehicle output we are at a standstill, from Table 2:
Total industry +0.1%, Consumer goods +0.0%, Business Equipment +0.0% , Construction supplies -0.6%, Business Supplies -0.1%, Materials +0.3%.
Automotive, manufacturing in general and construction are all sliding... YoY: Motor vehicle output -6.1%, vehicles & parts -3.3%, construction supplies -2.7%
Along with housing, economy and stock market... consumer sentiment down. CPI showing raging stagflation...
Industrial Production rebounding and Capacity Utilization rising... the rise on a cold weather utility spike...
the numbers show that manufacturing is at a standstill while construction activity continues to shrink and the last vestiges of automotive get emasculated...
Mich Sentiment-Prel. Mar 88.8 vs prior 91.3 ho hum...
CPI Feb +0.4 vs prior +0.2% Full Report
Inside the number: Core CPI Feb +0.2% vs prior +0.3%. Food prices up for the 2nd straight month, +0.8%, the largest gain in 2 years.
Annualized over the last 3 months: Food +6.1%, Services 6.8%, Medical care +6%, Energy +14.9%
Fresh fruit +5.7%, the most in 19 years, fresh vegetables +5.7%. Medical care +0.5%, Physician services and hospital services +0.6%. Airfares +0.9%, Tobacco +1%.
Apparel prices +0.5% and 2.1% in the last year, highest increase in 14 years.
Industrial Production Feb +1.0% vs prior -0.3% Full Report
Inside the number: Capacity Utilization Feb 82% vs prior 81.4%.
Utility output +6.7% the biggest jump since 1989 as cold weather saw an 11% spike in natural gas output and 5.9% jump in electric output.
Construction -0.6% and Yoy -2.5%. Home appliances, furniture, carpeting and miscellaneous goods all declined. Crude stage capacity utilization slipped 0.2%.
Manufacturing output +0.4%, on a rebound of +3.2% in the output of automotive products which was led by an increase in the production of light trucks.
However, there was a decline in the production of transit equipment -0.2% and the output of nondurable manufacturing slipped -0.2%.
How much damage will the final emasculation of automotive manufacturing cause? This month, excluding motor vehicle output we are at a standstill, from Table 2:
Total industry +0.1%, Consumer goods +0.0%, Business Equipment +0.0% , Construction supplies -0.6%, Business Supplies -0.1%, Materials +0.3%.
Automotive, manufacturing in general and construction are all sliding... YoY: Motor vehicle output -6.1%, vehicles & parts -3.3%, construction supplies -2.7%
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