Builder Confidence up. Chain Store Sales Weaken.

Chain Store Sales (week ended 9/15/2012)

ICSC-Goldman Store Sales

– Store Sales – Week/Week -2.5%.  Previous was +1.0%.
– Store Sales – Year/Year 2.1%. Previous was +3.4%.

Redbook

– Store Sales – Year/Year 2.4%. Previous was +2.7%.

While this is data for only one week it is not attractive.  Consumers drive the economy.

Current Account Deficit (2nd quarter 2012)

– Current Account Deficit was $117.4 billion.  This is an improvement from the 1stQ2012 deficit of $133.6 billion.  The Current Account Deficit consists of the net trade deficit of goods and services plus  transfers.  Transfers would be the net of earnings on foreign investment held by folks in the U.S. minus payments made to foreign investors on U.S. assets. 

Housing Market Index (September 2012)

– Housing Market Index 40,  Previous was 37.

This is an index generated by NAHB (The National Association of Home Builders) which is indicating increased builder confidence.  It is great that builders are more confident but the tight mortgage lending conditions which exist at present are going to restrain sales.