Tuesday, August 19, 2008

July PPI And Housing Starts


U.S. producer prices increased by a bigger-than-expected 1.2% in July, the Labor Department reported Tuesday, driven higher by prices for energy, cars, food and other products.


Producer prices are up 9.8% over the past 12 months, which is the most since June 1981.

It looks like food and energy inflation is being passed to wholesale.


Housing starts drop11%.

Separately, the Commerce Department estimated Tuesday that housing starts fell 11% to a seasonally adjusted annual rate of 965,000 in July, close to the 960,000 expected by economists.

The content contained in this blog represents the opinions of HousingDepression.
This commentary in no way constitutes investment advice. It should never be relied on in making an investment decision, ever. Nor are these comments meant to be a solicitation of business in any way - such inquiries will not be responded to. This content is intended solely for the entertainment of the reader, and the author.  We may hold either long or short positions in securities of various companies discussed in the blog.  The information in blog may contain misspellings and other inaccuracies.  It is provided "As IS," without express or implied warranties of any kind.  HD represents all rights to the information.

Technorati Tags     ,,

No comments: