Posted on 10/15/2014 5:55:26 AM PDT by blam
Myles Udland
October 15, 2014
We just got a slew of bad economic data.
Retail sales in September fell more than expected, producer prices unexpectedly fell, and the New York Fed's Empire manufacturing report came in way below expectations.
Following these reports, the US dollar is falling against the Japanese yen, tumbling back below 107, while US stock futures are sharply lower.
Dow futures are down 145 points, S&P 500 futures are down 22 points, and Nasdaq futures are down 38 points.
Retail sales in September fell 0.3%, and fell 0.2% excluding autos.
Expectations were for sales to show a decline of 0.1% month-over-month, and growth of 0.2% when excluding auto sales.
Last month, retail sales grew 0.6%, and rose 0.3% excluding autos.
Following Wednesday's retail sales report, Ian Shepherdson at Pantheon Macro said, "In one line: Slightly disappointing, but expect much better Q4 numbers... Overall we had hoped for slightly better core numbers, but it is hard to worry about these data given the sustained strength of chain store sales and the massive windfall from plunging gas price."
This chart from the Census Bureau shows the decline in September sales on a month-over-month basis.
(snip)
(Excerpt) Read more at businessinsider.com ...
Six years of lies about the economy ... can hide the truth forever.
Coming from Business Insider, this is not good news for the DIMS.
Inflation is crumbling across Europe. In fact, in several countries, it's already negative. Economists are increasingly worried that the whole continent is going to drop into deflation.
We really need more (illegal) workers. Ya right.
Just in time for November 4.
Shout it from the rooftops!
Can we call it a recession yet or just a deflationary/inflationary death spiral?
THIS is the improved economy “O” said we’re NOT feeling!
New Polls Show Democrats Are In Deep Trouble As Election Day Approaches
Soetoro sucks.
Expect another 300 point drop in the DJIA as it flirts with dropping under 16,000.
An Arkansas Senator Says 'Middle Class' Means Making $200,000 A Year
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