Wednesday, September 14, 2011

Morning Journal 9/14/11


This Week’s Data

The International Council of Shopping Centers reported weekly sales of major retailers up 1.3% versus the prior week and up 3.3% versus the comparable period a year ago; Redbook Research reported month to date retail chain store sales up 0.2% versus the similar timeframe last month and up 4.5% on a year over year basis.

August US import prices declined 0.4% while export prices rose 0.5%.

Weekly mortgage applications rose 6.3% while purchase applications jumped 7.0%.

The August producer price index was unchanged in line with estimates; core PPI was up 0.1% versus forecasts of up 0.2%.

August retail sales were unchanged versus expectations of an increase of 0.2%; ex autos sales were up 0.1% versus estimates of up 0.2%.


A look at household income (medium):

A look a global industrial activity. It is not a pretty picture and in my mind raises the odds of a recession here (today’s must read(: