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Wish I was in the G fund
. Oh yeah, I am 
. No recession here...no inflation in the works and all is well.
Put the rosy color glasses on my lab rat.
Morpheus
Retail Sales
The Commerce Department's report tomorrow on retail sales will show a second monthly decline in automobile purchases. Vehicles sold in November at a 16.4 million annual rate, the slowest since June, after October's 17 million pace, industry figures show.
General Motors Corp., the world's largest automaker, is cutting production in the first quarter by 7.1 percent, while Ford Motor Co. will reduce North American output by 7.7 percent. Vehicle production at General Motors has declined 5.1 percent to 4.68 million vehicles through the first week of December from a year earlier, according to Automotive News, a trade publication. Ford's North American output fell 7.6 percent to 3.28 million.
Excluding automobiles, retail sales are forecast to increase 0.1 percent in November, less than the 0.9 percent rise a month earlier. Receipts at filling stations last month were probably lower, reflecting a drop in gasoline prices. A gallon cost $1.99 at the end of the month, compared with $2.08 at the start, according to figures from the Energy Department.
Clothing sales, which increased 3 percent in October, probably slowed last month, according to economists at Lehman Brothers.
Consumer Prices
Sales at chain stores open at least a year rose 1.7 percent in November from a year earlier, the second-smallest gain in 20 months, according to the International Council of Shopping Centers, a trade group based in New York. Almost half of 69 chains tracked by the council had declines.
Retailers are responding. J.C. Penney Co. offered discounts of as much as 50 percent on women's dresses a week ago to get shoppers to spend more. Federate Department Stores Inc. and Sears, Roebuck & Co. have also stepped up discounts.
That's keeping a lid on consumer prices. The Labor Department is forecast to report on Dec. 17 a 0.2 percent rise in the consumer price index in November after a 0.6 percent jump. Excluding energy and food, prices probably rose 0.2 percent for a second month.
Forecasts
The U.S. trade deficit widened in October to $53 billion from $51.6 billion a month earlier, a report from the Commerce Department is likely to show. The current account deficit, the broadest measure of trade because it includes investments, probably widened in the third quarter to $171 billion from $166.2 billion.
Housing starts are forecast to decline to 1.98 million at an annual rate in November from 2.027 million a month earlier. Home construction has averaged 1.95 million at an annual rate so far this year.
Wish I was in the G fund
. Oh yeah, I am . No recession here...no inflation in the works and all is well.Put the rosy color glasses on my lab rat.
Morpheus
Retail Sales
The Commerce Department's report tomorrow on retail sales will show a second monthly decline in automobile purchases. Vehicles sold in November at a 16.4 million annual rate, the slowest since June, after October's 17 million pace, industry figures show.
General Motors Corp., the world's largest automaker, is cutting production in the first quarter by 7.1 percent, while Ford Motor Co. will reduce North American output by 7.7 percent. Vehicle production at General Motors has declined 5.1 percent to 4.68 million vehicles through the first week of December from a year earlier, according to Automotive News, a trade publication. Ford's North American output fell 7.6 percent to 3.28 million.
Excluding automobiles, retail sales are forecast to increase 0.1 percent in November, less than the 0.9 percent rise a month earlier. Receipts at filling stations last month were probably lower, reflecting a drop in gasoline prices. A gallon cost $1.99 at the end of the month, compared with $2.08 at the start, according to figures from the Energy Department.
Clothing sales, which increased 3 percent in October, probably slowed last month, according to economists at Lehman Brothers.
Consumer Prices
Sales at chain stores open at least a year rose 1.7 percent in November from a year earlier, the second-smallest gain in 20 months, according to the International Council of Shopping Centers, a trade group based in New York. Almost half of 69 chains tracked by the council had declines.
Retailers are responding. J.C. Penney Co. offered discounts of as much as 50 percent on women's dresses a week ago to get shoppers to spend more. Federate Department Stores Inc. and Sears, Roebuck & Co. have also stepped up discounts.
That's keeping a lid on consumer prices. The Labor Department is forecast to report on Dec. 17 a 0.2 percent rise in the consumer price index in November after a 0.6 percent jump. Excluding energy and food, prices probably rose 0.2 percent for a second month.
Forecasts
The U.S. trade deficit widened in October to $53 billion from $51.6 billion a month earlier, a report from the Commerce Department is likely to show. The current account deficit, the broadest measure of trade because it includes investments, probably widened in the third quarter to $171 billion from $166.2 billion.
Housing starts are forecast to decline to 1.98 million at an annual rate in November from 2.027 million a month earlier. Home construction has averaged 1.95 million at an annual rate so far this year.
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