News for Prescott AZ -

Wednesday, March 18, 2009

Encouraging PPI and Housing Data: Has Spring Sprung?


James Picerno submits:

Is the Fed's liquidity attack winning the war on deflation? This morning's update on wholesale prices, new housing starts and new building permits offers a few reasons for answering with a tenuous "yes." Maybe. Even if that's true, we're a long way from a "recovery" that's worthy of the name. But perhaps the blood will run a little slower; perhaps it'll stop flowing altogether. Stranger things have happened.

First let's take a look at prices. The Producer Price Index ((PPI)) for February rose a modest 0.1%, the Bureau of Labor Statistics reports. That follows January's roaring 0.8% jump. And not a moment too soon, in the wake of large back-to-back monthly declines last year in PPI from August through December. A similar run of deflation has weighed on consumer prices as well.

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