Industrial production suffered a second consecutive setback in October 2019 according to the Federal Reserve. After declining 0.3 percent (upwardly revised from minus 0.4 percent), the measure of America’s physical output dropped 0.8 percent. Likewise, the year-over-year trend was negative for a second month in a row, declining 1.1 percent.
Retail sales gained back all the prior period’s losses and then some in October 2019 according to the latest data from the Census Bureau. This indicator rose $526.5 billion to start the final quarter after declining $525.2 billion in September. Year-over-year, retail sales are up 3.1 percent.
Small business optimism remains high by historical standards according to the latest data from the National Federation of Independent Business. Their small business index rose to 102.4, an uptick of 0.6 point. This increase was fairly pervasive as eight of the ten components rose.
The American Government’s fiscal year has begun, and the start is already deeper into the red than year ago. During the first 31 days of fiscal 2020, our nation’s deficit reached $134.5 billion, rising 33.8 percent! This quick dig deeper into the debt hole follows the nearly $1 trillion shortfall in 2019.
Prices continued rising in October 2019 according to the Consumer Price Index (CPI) from the Bureau of Labor Statistics. The month-over-month tally accelerated to 0.4 percent after going unchanged in September. However, this sudden uptick had only a marginal impact on the year-over-year statistic, rising to 1.8 percent from 1.7 percent. Removing food and energy, leaving
There’s a disturbance in the force and technology is behind it. For instance, do you remember how disturbing it was to rewind your VHS tape? And even with DVDs, they had to be returned to your favorite rental location or stored with your home entertainment system. Now we download and stream.
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