Economic News This Morning

We got some key economic reports this morning. The government said there was little inflation to speak of last month. The CPI was unchanged last month (it was actually down a tiny bit, the third drop in four months) while economists had been expecting an increase of 0.1%. Over the last year, the CPI is up 1.6%. The “core rate” of inflation was up 0.1% last month, and up 1.7% in the last year.

The Commerce Department said that retail sales fell 0.2% last month. The Street had been expecting an increase of 0.1%. The number for May was revised upward from a 0.3% drop to a drop of 0.1%. These numbers don’t bode well for consumer spending.

We also learned that industrial production rose by 0.4% in June. From November 2014 to March 2016, industrial production fell by 3.8%. Since then, it’s steadily recovered. Industrial production has now risen for five months in a row.

We also learned two more reporting dates for Buy List earnings. Signature Bank (SBNY) will report on Wednesday, July 19. Wabtec (WAB) will report on Tuesday, July 25. This came out after I sent today’s newsletter.

Posted by on July 14th, 2017 at 9:15 am

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