Adam in CO
03-19-2007, 02:40 PM
Last Week in the News
Driven by big jumps in energy and food costs, the Consumer Price Index rose 0.4% in February, the Labor Department said March 16. The increase was larger than the 0.3% gain analysts had forecast. Core consumer inflation, which excludes volatile food and energy prices, was milder, rising just 0.2%, exactly what economists had been expecting.
The Producer Price Index -- which measures prices before they reach consumers -- surged 1.3% in February, more than double the 0.5% rise economists anticipated. Even excluding sharp increases in food and energy prices, core wholesale inflation rose 0.4%, the biggest increase since November.
The current account deficit -- which is the broadest measure of the trade deficit because it covers not only trade in goods and services but also investment flows between countries - decreased to $195.8 billion during the fourth quarter of 2006 from a revised $229.4 billion in the third quarter, the Commerce Department said March 14. For all of 2006, the deficit totaled $856.7 billion, an 8.2% increase over 2005's gap of $791.5 billion.
Retail sales nudged up 0.1% in February, as adverse winter weather kept already cautious shoppers away from the malls, the Commerce Department said March 13. The latest retail sales figures were weaker than the 0.3% analysts predicted. A bright spot was auto sales, which climbed 0.9%.
Mortgage rates for the week ended March 15 showed no change from the previous week.
This week look for updates on housing permits and housing starts on March 20.
Driven by big jumps in energy and food costs, the Consumer Price Index rose 0.4% in February, the Labor Department said March 16. The increase was larger than the 0.3% gain analysts had forecast. Core consumer inflation, which excludes volatile food and energy prices, was milder, rising just 0.2%, exactly what economists had been expecting.
The Producer Price Index -- which measures prices before they reach consumers -- surged 1.3% in February, more than double the 0.5% rise economists anticipated. Even excluding sharp increases in food and energy prices, core wholesale inflation rose 0.4%, the biggest increase since November.
The current account deficit -- which is the broadest measure of the trade deficit because it covers not only trade in goods and services but also investment flows between countries - decreased to $195.8 billion during the fourth quarter of 2006 from a revised $229.4 billion in the third quarter, the Commerce Department said March 14. For all of 2006, the deficit totaled $856.7 billion, an 8.2% increase over 2005's gap of $791.5 billion.
Retail sales nudged up 0.1% in February, as adverse winter weather kept already cautious shoppers away from the malls, the Commerce Department said March 13. The latest retail sales figures were weaker than the 0.3% analysts predicted. A bright spot was auto sales, which climbed 0.9%.
Mortgage rates for the week ended March 15 showed no change from the previous week.
This week look for updates on housing permits and housing starts on March 20.