Retail Sales Pick up.

PPI-FD (September 2016)

– PPI-FD month/month +0.3%. Previous was +0.0%
– PPI-FD year/year +0.7%. Previous was +0.0%
– PPI-FD less food & energy month/month +0.2%. Previous was +0.1%
– PPI-FD less food & energy year/year +1.2%. Previous was +1.0%
– PPI-FD less food, energy & trade services month/month +0.3%. Previous was +0.3%
– PPI-FD less food, energy & trade services year/year +1.5%. Previous was +1.2%

The story here is that the Fed has tried to convince everyone that 2% inflation is the path to Nirvana.

My view is that monetary policy is almost totally ineffective and that it matters little (in terms of inducing growth) what the Fed does. The onlt reason for raising the Fed Funds rate is
so that it can be lowered again when recession occurs.

 
Retail Sales (September 2016)

– Retail Sales month/month +0.6%. Previous was -0.2%
– Retail Sales less autos month/month +0.5%. Previous was -0.2%
– Less Autos & Gas month/month +0.3%. Previous was +0.0%

This is an encouraging sign for 4thQ2016 GDP.

 

Business Inventories (August 2016)

– Inventories month/month +0.2%. Previous was +0.0%

This is a GDOP component for 3rdQ2016.

 

Consumer Sentiment (October 2016)

– Sentiment Index 87.9. Previous was 91.2.

This is the University of Michigan’s Sentiment Index. It is supposed to forecast consumer spending in the next 3-6 months.