Economic Reports 06/13/07
Summary: Happy "Daze" are here again as headline's shout.... retail sales jump, sequential prices dropping and business inventories drawing down.... not so fast Joe...
retail sales up on seasonal adjustments and stagflated prices... despite lower energy prices, import & export prices still on track for 14% stagflation... and inventory build still outstripping sales YTD.
Import Prices ex-oil May +0.5% vs prior +0.2%
Export Prices ex-ag. May +0.2% vs prior +0.4% Full Report
Inside the number: ; overall Import Prices May +0.9% still on track for 14% annual stagflation.
The little import shop of horrors can be found in Tables 1 & 3 - Year over Year....
Despite Wood -11.5%; Petroleum & Coal -4.7%; Computer & Electronics -3.7%
Ag products +22.7%; Ag. Food, Feed & Beverages ex distilled +9.4%
Industrial Supplies & Materials ex petroleum +8.2%; durable +9.1%; non durable +7%
The export shop of horrors in Tables 2 & 4 - Year over Year....
Despite Minerals & Ores -15.1%; Petroleum & Coal -2.3% and Wood +7.3%!!!
Ag products +21.1%; Ag. Food, Feed & Beverages ex distilled +20.6%
Industrial Supplies & Materials +8.2%; durable +13.1%; non durable +5.4%
Non manufactured articles +11%; Non ag supplies & materials ex fuels & building materials +10%
Retail Sales May +1.4% vs prior -0.2% Full Report
Inside the number: Retail Sales ex-auto May +1.3% vs prior 0.0% the largest gain in 16 months.
Too bad the gains were on seasonal adjustments and stagflated prices. Sequentially retail sales ex auto & gas +1%.
How's the economy? In decline.... Auto sales +1.8% as unit sales DECLINED!!!! Department Stores YTD -1%; Building Materials & Garden Supplies -3.3%.
YTD non seasonally adjusted retail sales ex auto +3.7%... meanwhile...
staples doubling that on stagflation... Health & Personal Care +7.3%; Clothing +7.2%; Food & Beverage +6.3%
You can't tell me unit sales doubled on those staples, but the price increases sure did.... the 1% monthly increase reflects the rising price of staples.
FYI it is on track for a 10-12% annual increase as YTD non seasonally adjusted sales are +3.7%. Once again reflecting the true rate of stagflation in the supply chain.
Business Inventories Apr +0.4% vs prior 0.0% Full Report
Inside the number: Prior revised up from -0.1%; Total Sales decelerating +0.7% vs prior +1.8%; inventory building +0.4% vs prior 0.0%, Yoy Sales +3.8%, being outstripped by Inventory build +4.6%.
Retail spending DOWN: sales -0.1% vs prior +0.9%; inventory +0.3% vs prior -0.6%. Yoy: sales +2.9% vs inventory +2.5%
Manufacturing SLOWING: sales +0.8% vs prior +2.1%; inventory +0.5% vs prior +0.2%; Yoy: sales +0.5% vs inventory +4.7%
Merchant Wholesale TREADING: sales +1.3% vs prior +2.1%; inventory +0.3% vs prior +0.4%; Yoy: sales +8.8% vs inventory +7.1%
retail sales up on seasonal adjustments and stagflated prices... despite lower energy prices, import & export prices still on track for 14% stagflation... and inventory build still outstripping sales YTD.
Import Prices ex-oil May +0.5% vs prior +0.2%
Export Prices ex-ag. May +0.2% vs prior +0.4% Full Report
Inside the number: ; overall Import Prices May +0.9% still on track for 14% annual stagflation.
The little import shop of horrors can be found in Tables 1 & 3 - Year over Year....
Despite Wood -11.5%; Petroleum & Coal -4.7%; Computer & Electronics -3.7%
Ag products +22.7%; Ag. Food, Feed & Beverages ex distilled +9.4%
Industrial Supplies & Materials ex petroleum +8.2%; durable +9.1%; non durable +7%
The export shop of horrors in Tables 2 & 4 - Year over Year....
Despite Minerals & Ores -15.1%; Petroleum & Coal -2.3% and Wood +7.3%!!!
Ag products +21.1%; Ag. Food, Feed & Beverages ex distilled +20.6%
Industrial Supplies & Materials +8.2%; durable +13.1%; non durable +5.4%
Non manufactured articles +11%; Non ag supplies & materials ex fuels & building materials +10%
Retail Sales May +1.4% vs prior -0.2% Full Report
Inside the number: Retail Sales ex-auto May +1.3% vs prior 0.0% the largest gain in 16 months.
Too bad the gains were on seasonal adjustments and stagflated prices. Sequentially retail sales ex auto & gas +1%.
How's the economy? In decline.... Auto sales +1.8% as unit sales DECLINED!!!! Department Stores YTD -1%; Building Materials & Garden Supplies -3.3%.
YTD non seasonally adjusted retail sales ex auto +3.7%... meanwhile...
staples doubling that on stagflation... Health & Personal Care +7.3%; Clothing +7.2%; Food & Beverage +6.3%
You can't tell me unit sales doubled on those staples, but the price increases sure did.... the 1% monthly increase reflects the rising price of staples.
FYI it is on track for a 10-12% annual increase as YTD non seasonally adjusted sales are +3.7%. Once again reflecting the true rate of stagflation in the supply chain.
Business Inventories Apr +0.4% vs prior 0.0% Full Report
Inside the number: Prior revised up from -0.1%; Total Sales decelerating +0.7% vs prior +1.8%; inventory building +0.4% vs prior 0.0%, Yoy Sales +3.8%, being outstripped by Inventory build +4.6%.
Retail spending DOWN: sales -0.1% vs prior +0.9%; inventory +0.3% vs prior -0.6%. Yoy: sales +2.9% vs inventory +2.5%
Manufacturing SLOWING: sales +0.8% vs prior +2.1%; inventory +0.5% vs prior +0.2%; Yoy: sales +0.5% vs inventory +4.7%
Merchant Wholesale TREADING: sales +1.3% vs prior +2.1%; inventory +0.3% vs prior +0.4%; Yoy: sales +8.8% vs inventory +7.1%
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