Import/Export Prices Keep Falling.

Jobless Claims (week ended 12/6/2014)

– New Claims (seasonally adjusted)  294,000. Previous was 297,000
– New claims (unadjusted) totaled 388,258 an increase of 93,834 from the previous week.
– 4-week Moving Average  (seasonally adjusted)  299,250. Previous was 299,000

 
Retail Sales (November 2014)

– Retail Sales month/month +0.7%. Previous was +0.5%
– Retail Sales less autos month/month  +0.5%. Previous was +0.4%
– Less Autos & Gas month/month  +0.6%. Previous was +0.7%.

This reports is indicative of stronger GDP. Lower prices for oil decrease imports and translate into more dollars to spend on domestic goods and services.

 
Import and Export Prices (November 2014)

– Export Prices month/month -1.0%. Previous was -0.9%
– Export Prices year/year -1.9%. Previous was +0.8%
– Import Prices month/month -1.5%. Previous was -1.2%
– Import Prices year/year -2.3%. Previous was  -1.8%.

Import prices have dropped for 5 consecutive months.  Export prices have dropped for 4 consecutive months. Import prices are lower because of the strength of the US$ and because of falling oil prices.  Lower oil prices drive down the cost of many manufactured things.  Oil (WTI) traded at $60.74/bbl, this morning. It was $107.20 this June and $93.07 on September 18.

Business Inventories (October 2014)

– Inventories month/month +0.2%. Previous was +0.3%.