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CPI
The cost of living in the U.S. rose in January less than anticipated and a measure of prices excluding food and fuel fell for the first time since 1982, indicating the recovery is generating little inflation.
The consumer-price index increased 0.2 percent for a fifth straight month, led by higher fuel cost. However, the Labor Department figures revealed today showed that excluding energy and food, the "core index" unexpectedly fell 0.1 percent, reflecting a drop in new-car prices, clothing and shelter.
The big broader picture shows subdued inflation, giving the Fed to keep rates down for now.
Feb 19 · 2:52:00 PM
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by Larry Etter
Producer Price Index
Wholesale prices shot up at double the expected pace in January, propelled higher by big increases in energy costs. The Labor Department said Thursday that wholesale prices rose 1.4 percent last month, reflecting higher costs for gasoline and other energy products. Private economists had expected a 0.7 percent increase.
The surprisingly big increase was looked at as a temporary blip and not the start of inflation problems, analysts said.
Feb 18 · 10:09:00 AM · Source: AP
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by Larry Etter
Interest Rates
Federal Reserve Chairman Ben Bernanke began Wednesday to outline the central bank's strategy, saying the Fed will likely start to tighten credit by boosting the interest rate it pays banks on money they leave at the central bank.
This strategy would raise rates tied to commercial banks' prime rate and affect many consumer loans. Companies and ordinary Americans would pay more to borrow.
Feb 10 · 11:37:00 AM
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by Larry Etter
EU
Germany is considering what it could contribute to a European Union contingency plan to provide financial backing for Greece, the Wall Street Journal reported today. The preparations, a source said, come two days before an informal summit planned by the EU in Brussels. Separately, German Finance Ministry Spokesman Michael Offer said summit attendees would work on further steps to help Greece shore up public finances and restore calm in financial markets.
Feb 9 · 3:03:00 PM
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by Larry Etter
Durable Goods
A survey of companies released Wednesday by the Institute for Supply Management showed that service sectors of the United States moved back into growth territory in December, with the ISM non-manufacturing index rising to 50.5% from 49.8% in December.
Feb 3 · 10:49:00 AM
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by Larry Etter
Durable Goods
The Commerce Department Thursday said that orders for durable goods rose 0.2% in November. Lower demand for commercial aircraft offset big increases for computers and other industries. Manufacturers' orders for the long-lasting goods increased to a seasonally adjusted $166.87 billion, Commerce Dept. figures showed.
The number showed a smaller gain than expected.
Dec 24 · 9:37:00 AM
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by Larry Etter
Unemployment
The number of Americans filing claims for unemployment benefits last week declined by 28,000 to 452,000, the Labor Department reported Thursday.
The fall was bigger than forecast and the number is at the lowest levels since September, 2008.
Dec 24 · 9:32:00 AM
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by Larry Etter
Housing
Sales of new homes plunged unexpectedly last month to the lowest level since April, a sign the housing market recovery will be rocky and heavily dependent on the generosity of Uncle Sam. The 11 percent slump from October's pace shows that consumers are taking their time following an extension of a deadline for first-time buyers to qualify for a tax credit. The incentive was set to expire at the end of November, but Congress pushed back the date to April 30 and expanded the program to include current homeowners who relocate.
"They don't have to act today," said David Crowe, chief economist at the National Association of Home Builders, who called the results "pretty awful."
Dec 23 · 12:39:00 PM · Source: Yahoo.com
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by Rich Pike
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