Retail Sales

September 15, 2022 Retail sales rose 0.3% in August after declining 0.4% in July. In the past year retail sales have climbed by 3.6%.  Consumers are still spending at a moderate pace but inflation is eroding their purchasing power (see discussion of real retail sales...

Producer Price Index

September 14, 2022 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 fell 0.1% in...

Consumer Price Index

September 13, 2022 The CPI rose 0.1% in August after having been unchanged in July after having jumped 1.3% in June and climbing 1.0% in May.  It rose 1.3% in 2020, and 7.1% in 2021.  The year-over-year increase now stands at 8.2% and we expect the CPI to increase...

Small Business Optimism

September 12, 2022 . Small business optimism rose 1.9 points in August to 91.8 after having risen 0.4 point in July. NFIB Chief Economist William Dunkelberg said, “The small business economy is still recovering from the pandemic while inflation continues to be a...

Payroll Employment

September 2, 2022 Payroll employment rose by 315 thousand in August after having jumped by 528 thousand in July.  In the past three months the average increase has been 378 thousand.  At the beginning of this year we were routinely seeing employment gains of  550-600...