Retail Sales

Jobless Claims down, Retail Sales Modestly Recover, Inflation Contained.

Jobless Claims (week ended 12/8/2012) New Claims – 343,000. Previous week was revised down to 372,000. 4-week Moving Average 381,500 Unadjusted New Claims were 428,814 down 72,117 from the previous week. Claims have decreased for 4 consecutive weeks. Initial Jobless Claims data has been distorted: 1) Sandy 2) Christmas hiring and 3) seasonal layoffs due

Inflation Contained, Retail Sales down, Mortgage Applications up.

Wholesale Inflation (October 2012) PPI PPI – Month/Month -0.2 % PPI – Year/Year  +2.3 % PPI less food & energy – Month/Month -0.2 % PPI less food & energy – Year/Year +2.1 % Inflation at the wholesale level remains well-contained. MBA Mortgage Applications (week ended 11/9/2012)   Purchase Index – Week/Week  +11.0% Refinance Index –