Consumer Confidence & PPI
Summary: The bottom is nowhere in sight...
Consumer confidence hits a seventeen year low, PPI stagflation roars into double digits
Consumer Confidence Feb 75 vs prior 87.3 Full Report
Inside the number: A 12 point plunge to a five year low. Excepting the 2003 Iraqi War invasion...
the index is at a fifteen year low and consumer expectations are at a seventeen year low.
A sharp rise in the number of consumers saying jobs are hard to get.
PPI Jan +1% vs prior -0.3% Full Report
Inside the number: Core PPI Jan +0.4% vs prior +0.2%. PPI YOY at the highest level since Oct '81 and PPI ex-food and energy up 2.3%.
Sequential: Finished goods +1%; Intermediate goods +1.4%; Crude goods +2.5%;
In the last 4 months, finished goods +3.8%; for an annual rate of +11.4%.
YOY: Finished goods +7.4%; Intermediate goods +8.8%; Crude goods +31.3%.
We rest our case for double digit stagflation throughout the supply chain.
Consumer confidence hits a seventeen year low, PPI stagflation roars into double digits
Consumer Confidence Feb 75 vs prior 87.3 Full Report
Inside the number: A 12 point plunge to a five year low. Excepting the 2003 Iraqi War invasion...
the index is at a fifteen year low and consumer expectations are at a seventeen year low.
A sharp rise in the number of consumers saying jobs are hard to get.
PPI Jan +1% vs prior -0.3% Full Report
Inside the number: Core PPI Jan +0.4% vs prior +0.2%. PPI YOY at the highest level since Oct '81 and PPI ex-food and energy up 2.3%.
Sequential: Finished goods +1%; Intermediate goods +1.4%; Crude goods +2.5%;
In the last 4 months, finished goods +3.8%; for an annual rate of +11.4%.
YOY: Finished goods +7.4%; Intermediate goods +8.8%; Crude goods +31.3%.
We rest our case for double digit stagflation throughout the supply chain.
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