Housing Starts

September 18, 2019 Housing starts jumped 12.3% in August to 1,364 thousand after having declined 1.5%in July and 2.5% in June.   Because these data are particularly volatile on a month-to-month basis, it is best to look at a 3-month moving average of starts (which is...

Solving the Wrong Problem

September 13, 2019 The European Central Bank provided a surprise dose of monetary stimulus this past week.  Not only did it cut interest rates, it announced a new bond-buying program designed to get the economy going.   However, policy makers in Europe and the U.S....

Retail Sales

September 13, 2019 Retail sales 0.4% in August.  But that follows gains of 0.4% in April, 0.5% in May, 0.4% in June, and 0.8% in July..    Any way you slice it, consumer spending remains solid.  During the past year retail sales have risen 4.0%, but in the past three...

Consumer Price Index

September 12, 2019 The CPI rose 0.1% in August after having risen 0.3% in July..  During the past year the CPI has risen 1.8%. Food prices were unchanged in August and rose 0.1% in both June and July.  Food prices have risen 1.7% in the past twelve months.  These...