Economic Reports 01/15/08
Summary: Retail sales decline shows John Q pulling back further.
PPI confirms double digit stagflation at 13.3% in Q4 and rising.
NY Empire State confirms a slowdown with 3rd striaght new order decline and lowered forward expectations.
Business inventories confirms double digit price stagflation and classic channel stuffing.
Retail Sales Dec -0.4% vs prior +1% Full Report
Inside the number: Retail Sales ex-auto Dec -0.4% vs prior +1.7%. A "robust" economy witnessed by sequential declines in...
Department Stores -0.4%; Auto sales -0.4%; Gasoline -1.7%; Electronics -1.9%; Clothing -2%; Building Materials -2.9%.
This decline is without price increase adjustments!
PPI Dec -0.1% vs prior +3.2% Full Report
Inside the number: Intermediate goods -0.2% vs +3.7%; YOY +6.8%; Crude goods +1% vs +8.7%; YOY +20.6%.
Core PPI Dec +0.2% vs prior +0.4%. YOY PPI +6.3%; foods +7.4%; energy +18.4%.
From Page 2: Q4 annualized rate:
Finished goods +13.3%; consumer foods +9.4%; Intermediate goods +15%; materials for non durables +20.3%; Crude materials +59%.
NY Empire State Index Jan +9 vs prior +9.8 Full Report
Inside the number: New orders declining for a 3rd straight month, falling from 13 to ZERO.
Shipments 15 vs 20; Prices Paid 40 vs 35; Prices Received 18 vs 12; Employees 2 vs 5.
A negative outlook as looking forward six months, almost every category declined.
Business Inventories Nov +0.4% vs prior +0.1% Full Report
Inside the number: Business Sales +1.6% vs +0.9%; Manufacturing Sales +1.5% vs +1.2%; Inventories +0.8% vs +0.2%;
Retail Sales +1.2% vs ZERO; Inventories -0.1% vs +0.3%; Wholesale Sales +2.2% vs +1.4%; Inventories +0.6% vs ZERO.
Unadjusted for price changes, YOY Sales +8.7%; Manufacturing +6.5%; Retail +6%; Wholesale +14%.
Can you say stagflated prices and wholesale channel stuffing, I can.
PPI confirms double digit stagflation at 13.3% in Q4 and rising.
NY Empire State confirms a slowdown with 3rd striaght new order decline and lowered forward expectations.
Business inventories confirms double digit price stagflation and classic channel stuffing.
Retail Sales Dec -0.4% vs prior +1% Full Report
Inside the number: Retail Sales ex-auto Dec -0.4% vs prior +1.7%. A "robust" economy witnessed by sequential declines in...
Department Stores -0.4%; Auto sales -0.4%; Gasoline -1.7%; Electronics -1.9%; Clothing -2%; Building Materials -2.9%.
This decline is without price increase adjustments!
PPI Dec -0.1% vs prior +3.2% Full Report
Inside the number: Intermediate goods -0.2% vs +3.7%; YOY +6.8%; Crude goods +1% vs +8.7%; YOY +20.6%.
Core PPI Dec +0.2% vs prior +0.4%. YOY PPI +6.3%; foods +7.4%; energy +18.4%.
From Page 2: Q4 annualized rate:
Finished goods +13.3%; consumer foods +9.4%; Intermediate goods +15%; materials for non durables +20.3%; Crude materials +59%.
NY Empire State Index Jan +9 vs prior +9.8 Full Report
Inside the number: New orders declining for a 3rd straight month, falling from 13 to ZERO.
Shipments 15 vs 20; Prices Paid 40 vs 35; Prices Received 18 vs 12; Employees 2 vs 5.
A negative outlook as looking forward six months, almost every category declined.
Business Inventories Nov +0.4% vs prior +0.1% Full Report
Inside the number: Business Sales +1.6% vs +0.9%; Manufacturing Sales +1.5% vs +1.2%; Inventories +0.8% vs +0.2%;
Retail Sales +1.2% vs ZERO; Inventories -0.1% vs +0.3%; Wholesale Sales +2.2% vs +1.4%; Inventories +0.6% vs ZERO.
Unadjusted for price changes, YOY Sales +8.7%; Manufacturing +6.5%; Retail +6%; Wholesale +14%.
Can you say stagflated prices and wholesale channel stuffing, I can.
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