Economic Week in Review 18 Apr
- Producer Price Index headline number for March fell largely due to a drop in energy prices. Food also declined. The core rate rose. Additionally, Consumer Price Index headline number also declined while the core number held steady.
- March retail sales dropped much more than expected. This drop occurred across the spectrum of consumer goods.
- Treasury International Capital (TIC) showed a significant improvement in net foreign purchases of long term US securities, most notably, from the US' two biggest debt holders, China and Japan. Foreign demand for treasuries, corporate bonds, and agency paper increased.
- Industrial Production declined much more than expected for March matching the February decline. This decline is due to a drop in demand in the US and the decline in oil and gas drilling profitability.
- Housing Starts for March surprised to the downside posting a significant decline. There continues to be an excess of unsold home supply.
- Jobless claims reflected a decline in initial claims although the results were significantly affected by adjustments.
- Consumer Sentiment rose reflecting some expectation by some consumers of a stabilization in economic conditions.
- Upcoming reports for Apr 20-24 include jobless claims, exisiting & new home sales, and durable goods
