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Strategies & Market Trends : John Pitera's Market Laboratory
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To: Stoctrash who wrote (3168)1/12/2001 12:06:11 PM
From: John Pitera  Read Replies (1) of 33421
 
---PPI showed flat growth in December but it came with an 0.3% rise in the core component which provides some modest concern. Surprise gains in vehicle prices along with an 0.6% rise in prescription drugs and an 0.2% rise in capital goods provided the increased pressure in the core as energy prices fell 0.7% and food prices fell 0.4%. The Dec growth leaves wholesale prices up 3.6% in the year as the core rose just 1.2%. The 17% annual rise in energy prices provided the fuel. ---


.....Retail sales showed a surprise 0.1% rise as autos (in $ terms) provided a small 0.3% gain despite the strong decline in the number of vehicles sold. The rest of the report was weak however with durable goods ex-autos -0.2% and nondurable goods flat on the month. The surprise Dec rise follows a downward revision to both Oct and Nov which bodes poorly for consumer spending in Q4.......
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