by sslifer | Mar 15, 2024 | Commentary for the Week, NumberNomics Notes
March 15, 2024 We have written frequently about how the Fed’s temporary run-up in inflation turned out not to be temporary. Because wages have not kept pace with the jump in prices, consumer purchasing power has been reduced. This has soured consumer attitudes...
by sslifer | Mar 15, 2024 | Consumer, NumberNomics Notes
March 15, 2024 The preliminary estimate of consumer sentiment for March declined 0.4 point to 76.5 after having fallen 2.1 points in February . Surveys of Consumers Director Joanne Hsu said, “Consumer sentiment moved little this month with a 0.4 index point...
by sslifer | Mar 15, 2024 | Industrial Production, NumberNomics Notes
March 15, 2024 Industrial production rose 0.1% in February after having fallen 0.5% in January. In the past year industrial production has declined 0.2%. The manufacturing sector has been essentially unchanged for the past year. Breaking industrial production down...
by sslifer | Mar 14, 2024 | Inflation, NumberNomics Notes
March 14, 2024 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 jumped 0.6% in...
by sslifer | Mar 14, 2024 | Employment, NumberNomics Notes
March 14, 2024 Initial unemployment claims fell 1 thousand in the week ending March 9 to 209,000 after declining 3 thousand in the previous week. Thus far, in the face of rising interest rates and the fear of a recession, employers are reluctant to lay off workers. ...
by sslifer | Mar 14, 2024 | NumberNomics Notes, Retail Sales
March 14, 2024 Retail sales rose 0.6% in February after having declined 1.1% in January. In the past year retail sales have risen by 1.9%. Weather undoubtedly played a role in depressing January sales. Having said that, we would have expected a larger increase in...
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