Homebuilder Confidence Rising Last 6mo (TABLE 1985-PRESENT)

NAHB Housing Market Index (October 2012)
– Index was 41.  Previous was 40.
– This is 6 consecutive months of gain
– Nice trend getting closer to 50+ considered to be healthy market
– 50 is dividing line between positive and negative sentiment
– Last 50+ reading was April 2006, the tail end of the housing boom
– Full October 2012 report here
– Here’s a table showing builder confidence from 1985-PRESENT

CPI (September 2012)
– CPI core (less food & energy) Month/Month +0.1%
– CPI core (less food & energy) – Year/Year 2.0%
– CPI (overall) – Month/Month +0.6%
– CPI (overall) – Year/Year  +2.0%

This is a familiar story:  core inflation is well contained and overall has a high octane bounce.  Gas prices will correct. 

Industrial Production (September 2012)

Production – Month/Month change +0.4%. Previous was -1.4%
Capacity Utilization Rate –  78.3%.  Previous was 78.0
Manufacturing Month/Month +0.2%.  Previous was -0.7%.

The small gains do not come close to making up for the losses of the previous month.  Manufacturing is weak.

ICSC-Goldman (week ended 10/13/2012)

Store Sales Store Sales – Week/Week +0.0 %
Store Sales – Year/Year +2.7%

Redbook Store Sales  (week ended 10/13/2012)

Store Sales +1.8% Year/Year.