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CPI, Housing starts, Redbook retail sales, E commerce retail sales, Industrial production, NY Fed and Atlanta Fed forecasts

Summary:
Still below the Fed’s target and ‘core’ moving down a bit year over year: Consumer Price Index Housing starts better than expected, permits up a bit and last month’s revised down a bit. And, of course, no house legally gets built without a prior permit and the chart isn’t looking promising: Housing Starts Still down and out:And E commerce retail sales growth is working its way lower as well:Note the % change this year vs last year chart, which takes out all the ‘seasonal’ factors, remains negative: Industrial Production The two Feds are somewhat divergent. And I still don’t see the credit expansion required to offset savings desires:

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Still below the Fed’s target and ‘core’ moving down a bit year over year:

Consumer Price Index
CPI, Housing starts, Redbook retail sales, E commerce retail sales, Industrial production, NY Fed and Atlanta Fed forecasts

CPI, Housing starts, Redbook retail sales, E commerce retail sales, Industrial production, NY Fed and Atlanta Fed forecasts
Housing starts better than expected, permits up a bit and last month’s revised down a bit.

And, of course, no house legally gets built without a prior permit and the chart isn’t looking promising:

Housing Starts
CPI, Housing starts, Redbook retail sales, E commerce retail sales, Industrial production, NY Fed and Atlanta Fed forecasts

CPI, Housing starts, Redbook retail sales, E commerce retail sales, Industrial production, NY Fed and Atlanta Fed forecasts
Still down and out:
CPI, Housing starts, Redbook retail sales, E commerce retail sales, Industrial production, NY Fed and Atlanta Fed forecasts
And E commerce retail sales growth is working its way lower as well:
CPI, Housing starts, Redbook retail sales, E commerce retail sales, Industrial production, NY Fed and Atlanta Fed forecasts
Note the % change this year vs last year chart, which takes out all the ‘seasonal’ factors, remains negative:

Industrial Production
CPI, Housing starts, Redbook retail sales, E commerce retail sales, Industrial production, NY Fed and Atlanta Fed forecasts

CPI, Housing starts, Redbook retail sales, E commerce retail sales, Industrial production, NY Fed and Atlanta Fed forecasts
The two Feds are somewhat divergent. And I still don’t see the credit expansion required to offset savings desires:
CPI, Housing starts, Redbook retail sales, E commerce retail sales, Industrial production, NY Fed and Atlanta Fed forecasts
CPI, Housing starts, Redbook retail sales, E commerce retail sales, Industrial production, NY Fed and Atlanta Fed forecasts

WARREN MOSLER
Warren Mosler is an American economist and theorist, and one of the leading voices in the field of Modern Monetary Theory (MMT). Presently, Warren resides on St. Croix, in the US Virgin Islands, where he owns and operates Valance Co., Inc.

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