Natural-Disaster Boost to the Economy Topped Out in November 2017;
Now Backing Off with a Vengeance, as Predicted

Watch the Dollar!

January 2018 Industrial Production Declined 0.1% (-0.1%) Month-to-Month,
On Top of Downside Revisions to December Activity

Production Peaked in November, Net of a Record, Winter-Driven Utility Surge

January Real Retail Sales Plunged 0.8% (-0.8%), Dropping 1.2% (-1.2%)
Net of Sharp Downside Revisions to December and Holiday-Season Activity;
Annual Growth Fell Deep into Recession-Warning Territory

Real Average Weekly Earnings Head into Third-Consecutive Quarterly Decline, the
Fifth Headline Quarter-to-Quarter Decline in the Last Six Quarters

"Surging" Housing Starts Activity Was Statistically Insignificant, as Usual,
Still Shy of Recovering Its Pre-Recession High by 41.7% (-41.7%)

Someone Used Contrary Hype to Boost Interest Rates or to Spook Stocks:
Headline "Fears of Soaring Inflation" Greeted Annual "Core" CPI-U Inflation Holding
Predictably Range-Bound at 1.8%, for the Tenth Month, versus the Fed’s 2.0% Target

Monthly Inflation Gains of 0.54% and 0.44% in the January CPI-U and PPI
Were Dominated by Irregular Volatility in Adjusted, Monthly Gasoline Prices

Common Inflation Experience Is Much Worse than the Headline Numbers