Inflation on target.

Consumer Price Index (October 2015)

– CPI month/month  +0.2%. Previous was -0.2%
– CPI year/year  +0.2%. Previous was +0.0%
– CPI core (less food & energy) month/month  +0.2%. Previous was +0.2%
– CPI core (less food & energy) year/year  +1.9%. Previous was +1.9%

Looking at just the year/year data overall inflation was +0.2% which is, essentially, non-existing.  Stripping out food and gasoline, core was +1.9% which is near what the Fed considers ideal.

 
Redbook Chain Store Sales (week ended 11/14/2015)

– Chain Store Sales year/year +1.2%. Previous was +1.1%.

It can be difficult to interpret November Retail sales data because of the way stores price things in November encouraging putting off purchases until after Thanksgiving. This data is year/year and should make sense.  Chain store sales use only same store comparisons and have survivor bias meaning that the store which were closed are not counted.

Industrial Production (October 2015)

– Production month/month    -0.2%. Previous was -0.2%
– Manufacturing month/month   +0.4%. Previous was -0.1%
– Capacity Utilization Rate  77.5%. Previous was 77.5%.
Industrial Production consists of manufacturing, mining, and the output of utilities. Mining and Utility Output were down but manufacturing was up.

Housing Market Index (November 2015)

– Housing Market Index 62. Previous was 65.

This is a survey index taken by The National Association of Home Builders.

Demand for housing is relatively weak.  Some of this has to do with diminished interest by first-time home buyers.  More young people are living with parents and some are burdened with student loan debt.

E-Commerce Retail Sales (3rdQ2015)

– E-Sales quarter/quarter seasonally adjusted, annualized +4.2%.

E-sales continue to take market share away from traditional brick and mortar stores. This has a very significant effect on the economics of malls.