Inflation Waning.
Initial Jobless Claims (week ended 9/10/2016)
– New Claims seasonally adjusted 260,000. Previous was 259,000
– 4-week Moving Average 260,750. Previous was 261,250
– New Claims unadjusted, totaled 193,366 a decrease of 24,349 from previous
PPI-FD (August 2016)
– PPI-FD month/month 0.0%. Previous was -0.4%
– PPI-FD year/year 0.0%. Previous was -0.2%
– PPI-FD less food & energy month/month +0.1%. Previous was -0.3%
– PPI-FD less food & energy year/year +1.0%. Previous was +0.7%
– PPI-FD less food, energy & trade services month/month +0.3%. Previous was +0.0%
– PPI-FD less food, energy & trade services month/month +1.2%. Previous was +0.8%
As I have been saying we will see lower inflation.
Retail Sales (August 2016)
– Retail Sales month/month -0.3%. Previous was -0.1%
– Retail Sales less autos month/month -0.1%. Previous was -0.4%
– Less Autos & Gas month/month -0.1%. Previous was -0.1%
After a relatively strong 2ndQ Retail Sales are weak. This indicates a weak 3rdQ2016 GDP.
Philadelphia Fed Business Outlook Survey (September 2016)
– General Business Conditions Index 12.8. Previous was 2.0.
Empire State Manufacturing Survey (September 2016)
– General Business Conditions Index -1.99. Previous was -4.21
Industrial Production (August 2016)
– Production month/month -0.4%. Previous was +0.6%
– Manufacturing month/month -0.4%. Previous was +0.4%
– Capacity Utilization Rate 75.5%. Previous was 75.9%
Business Inventories (July 2016)
– Inventories month/month +0.0%. Previous was +0.2%
This is a GDP component.