Consumer Confidence; NY Empire Index; TIC Foreign Inflows; Import & Export Prices
Summary: Headlines said industrial production +0.1% as expected... under the sheets...
Consumer confidence hits 16 year low. TIC flows show 33% drop in private foreign investment.
NY manufacturing collapsed into contraction. Import & Export prices screaming double digit stagflation.
University of Michigan Sentiment Survey fell to 69.6, from 78.4. This is the lowest confidence level since 1992.
NY Empire State Manufacturing Index, dropped to -11.7 from 9.0 Full Report
Inside the number: negative readings indicate contraction.
New orders -4.8 vs +15.8; prices paid 47.3 vs 40.2; prices received 17.8 vs 18.3; employment -2 vs +2; CapEx 6 months out 16.8 vs 23.1.
TICDecember data showed foreign central banks loading up on Treasuries & Equities,
while foreign private investors dumped Treasuries & Government Agency Issues to load up on equities.
Most disturbing, for the year, monthly net TIC flows from private foreign investors declined from 926 to 395 billion,
taking overall Montly TIC flows down from 1.066 Trillion to 692 Billion in 2007.
Import Prices +1.7% vs -0.2% prior Full Report
Inside the number: Petrol +5.5%; Imports ex petrol +0.6%; Export prices +1.2% vs prior +0.4%; Ag exports +5%; ex ag +0.8%
Consumer confidence hits 16 year low. TIC flows show 33% drop in private foreign investment.
NY manufacturing collapsed into contraction. Import & Export prices screaming double digit stagflation.
University of Michigan Sentiment Survey fell to 69.6, from 78.4. This is the lowest confidence level since 1992.
NY Empire State Manufacturing Index, dropped to -11.7 from 9.0 Full Report
Inside the number: negative readings indicate contraction.
New orders -4.8 vs +15.8; prices paid 47.3 vs 40.2; prices received 17.8 vs 18.3; employment -2 vs +2; CapEx 6 months out 16.8 vs 23.1.
TICDecember data showed foreign central banks loading up on Treasuries & Equities,
while foreign private investors dumped Treasuries & Government Agency Issues to load up on equities.
Most disturbing, for the year, monthly net TIC flows from private foreign investors declined from 926 to 395 billion,
taking overall Montly TIC flows down from 1.066 Trillion to 692 Billion in 2007.
Import Prices +1.7% vs -0.2% prior Full Report
Inside the number: Petrol +5.5%; Imports ex petrol +0.6%; Export prices +1.2% vs prior +0.4%; Ag exports +5%; ex ag +0.8%
Comments