Inflation Hysteria Overdone
May 14, 2021 In April inflation returned in spades and the markets did not like it. The stock market plunged. Consumer sentiment fell 5.5 points in May as consumers were shaken by the monthly jump in inflation. Some of the upswing reflects rebounding airfares,...
The Recession is Over. Right?
May 14, 2021 The grand arbiter of recession dating is the National Bureau of Economic Research. It determines the exact month that expansions and recessions get underway and end. On June 8 of last year it indicated that the decade long expansion ended in February...
Consumer Sentiment
May 14, 2021 . The preliminary estimate of consumer sentiment for May fell 5.5 points from 88.3 to 82.8. Thus, consumer sentiment remains well below the pre-recession 101 level for February 2020.. Surveys of Consumers Chief Economist Richard Curtin said, "Consumer...
Industrial Production
May 14, 2021 .Industrial production rose 0.7% in April after climbing 2.4% in March. Production has risen steadily since reaching a low point in April of last year. The nation's production sector continues to recover. However, as shown below, production is still...
Retail Sales
May 14, 2021 Retail sales were unchanged in April after having surged 10.7%% in March (previously reported as an increase of 9.8%). The historical data have been revised as the Census Bureau incorporated data from the 2019 Annual Retail Trade Survey and the...
Producer Price Index
May 13, 2021 The Producer Price Index for final demand includes producer prices for goods, as well as prices for construction, services, government purchases, and exports and covers over 75% of domestic production. Producer prices for final demand rose 0.6% in...
Initial Unemployment Claims
May 13, 2021 Initial unemployment claims for the week of May 8 fell 32 thousand to 473 thousand after having declined 83 thousand in the previous week. The May 1 level is the lowest level of claims since March 14, 2020 when it was 256 thousand. After reaching a...
Gasoline Prices
May 12, 2021 Gasoline prices declined $0.07 in the week ending May 10 .to $2.96 per gallon. In South Carolina gasoline prices tend to about $0.25 below the national average or about $2.71. The EIA expect gasoline prices nationally to average $2.68 per gallon this...
Consumer Price Index
May 12, 2021 The CPI jumped 0.8% in April after having risen 0.6% in March and 0.4% in February. It rose1.3% in 2020, and the year-over-year increase currently is 4.2%. Food prices climbed 0.4% in April after having risen 0.1% in January, February, and March. ...
Unemployment vs. Job Openings
May 11, 2021 The Labor Department reported that job openings rose 597 thousand in March or 7.9% to a record 8,123 thousand after having risen 6.0% in February and 5.1% in January The previous record high level for job openings was 7,574 thousand back in November...
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