No. 862: Industrial Production, CPI, Real Retail Sales, Housing Starts, Freight Index
Real Earnings Contracted in Fourth-Quarter 2016
Fourth-Quarter Production Fell Quarter-to-Quarter and Year-to-Year,
Protracted Patterns Never Seen Outside of a Recession in 99-Year History of the Series
Despite a Large Boost from an Irregular, Weather-Driven Surge in Utilities,
December Production Still Was Down by 1.10% (-1.10%) from Its Pre-Recession High,
Down by 1.98% (-1.98%) from Its One-Month, November 2014 Recovery
December Manufacturing Remained Down by 6.18% (-6.18%) from
Its Never-Recovered Pre-Recession Peak
CASS Freight Index Continued in Low-Level, Non-Recovering Stagnation
December 2016 Monthly Inflation Firmed by 0.3%,
Pushing Annual CPI-U Inflation to a 30-Month High of 2.1%, with
CPI-W at 2.0% and ShadowStats at 9.8%
December Nominal Retail Sales Gains of 0.63% Month-to-Month and 4.13% Year-to-Year,
Turned to 0.34% and a Recessionary 1.99% on an Inflation-Adjusted, Real-Growth Basis
Net of Year-End, Incentive-Spiked Automobile Sales,
Real Holiday-Season Shopping Turned Down in November and December
Despite Continuing Nonsense Volatility in Monthly Data,
Smoothed Housing Starts and Permits Held in Non-Recovering, Low-Level Stagnation,
Activity Down Respectively by 46% (-46%) and 47% (-47%) from Pre-Recession Peaks