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Prices paid by wholesalers and producers declined to start this year according to the Bureau of Labor Statistics.  Their measure of Producer Price Index (PPI) dropped marginally, falling 0.1 percent in January 2019 and matching the prior month’s decline as well.  Year-over-year, this price proxy has gained a tame 2.0 percent.

In yesterday’s note (click here to review) we examined the Census Bureau’s data on Retail Sales.  In short, they were weak.  The headline tally declined 1.2 percent (the largest drop in nine years), and minus signs accompanied most of the components. 

In yesterday’s note (click here to review) we examined the Census Bureau’s data on Retail Sales.  In short, they were weak.  The headline tally declined 1.2 percent (the largest drop in nine years), and minus signs accompanied most of the components. 

Americans consume a lot.  So much so that just one economic indicator represents roughly two-thirds of our nation’s output: retail sales.  Unfortunately for the economy, the Census Bureau’s December 2018 iteration of this indicator was weak.  While adjusted for seasonality but not prices, receipts were down 1.2 percent as last year ended.

Prices paid by Americans were unchanged in January 2019 according to the Bureau of Labor Statistics’ Consumer Price Index (CPI).  This comprehensive look at inflation gained just 1.6 percent in the past twelve months.  Stripping out food and energy, the “core” CPI tally gained 0.2 percent to start the year and 2.2 percent on a year-over-year basis. 

Small business lost more confidence to start 2019 according to the latest data from the National Federation of Independent Business (NFIB).  Their business optimism index declined 3.3 points to 101.2, the lowest reading since November 2016.  Small business owners are growing concerned about the unknown as their Uncertainty Index climbed to 86, the fifth highest reading going all the w