Economy in Brief: March 2012

The University of Michigan's Index of Consumer Sentiment for mid-March fell to 74.3 from 75.3 in February. The figure compared to expectations for improvement to 76.0. A decline in consumer expectations led this month's weakness with [...]

The weather can immensely impact factory output, and during the last few months that was notably true. Industrial production was unchanged last month (4.0% y/y) following a revised 0.4% January rise, initially reported as no change. [...]

The chart offers clear snap shot of how much UK PPI inflation has oscillated up and down since the financial crisis/recession. But it mostly has been too high UK PPI inflation is running at 4.1% Yr/Yr. Core inflation is lower 3% [...]

Consumer prices rose during February by the most since last April. The CPI matched expectations and increased 0.4% following a 0.2% January rise. The quicker rate of increase was due to a 3.2% gain in energy prices. Food prices ticked [...]

The Philadelphia Federal Reserve Bank's General Business Conditions Index rose in March to its highest level since last April. The index rose to 12.5 from 10.2 in February and the figures have been positive for six consecutive months. [...]

The Empire State Factory Index of General Business Conditions for March rose to 20.21 from February's unrevised 19.53. The Federal Reserve Bank of New York indicated that the index remained at its highest level since June 2010. [...]

Initial claims for unemployment insurance fell sharply during the week ended March 10 to 351,000 from 365,000 during the previous period, initially estimated at 362,000. Claims averaged 355,750 (-8.4% y/y) during the last four weeks. [...]

The producer price index for finished goods rose 0.4% during February, the strongest increase since last September. Consensus expectations had been for a 0.5% rise, according to the Action Economics survey. Core pricing power eased. [...]