Weekly Highlights 15 April 2011

This is the table that accompanies the weekly economic review article:  Chilling Headwinds: Energy Costs Stalling the Economy?:

Weekly Economic Release Scorecard:

Item Headline Analysis
April Empire State Manufacturers Survey Improved Survey looks solid but has an anomaly in backlog
March Industrial Production Up Solid performance but note that IP remains at 93.6% of pre-recession levels
March Consumer Prices Up 2.7% YoY Consumers may be seeing much higher price increases
March Sea Container Counts Up Exports remain at historical highs
Consumer Metrics Falling Consumer Contraction now is far exceeding the Great Recession
March Producer Price Index Up 5.8% YoY Rate of rise returned to 6 month average after last months surge.
February Business Sales Up Size of increase so small it takes a microscope to see
March Retail Sales Up Growth trend over last 4 months remains in tight 7% YoY trend
March Retail Sales   USA remains in a retail sales recession
March Import / Export Prices Up Prices are up 9% YoY – yet PPI only up 6%???
March Small Business Sentiment Down Surprisingly large one month setback in a background of recent up-trending sentiment
March Diesel Consumption Up Strong growth
February USA Trade Deficit Down Larger than normal decline in imported oil
Retail Sales & Credit   When inflation and population are factored in, no retail sales growth.  Credit growth is only student loans.
Iceland   Why voters rejected compensating Europe for losses
Australia Housing Prices   An expert’s view of what is really going on in Oz
Wines   A look at the effectiveness of Napa, Sonoma, and Columbia in marketing wines
Las Vegas Properties   Kieth Jurow explores whether it is time to buy residential property in Las Vegas
Corporate Forward Earnings   Jeff Miller examines the use of forward earning estimates
Dow Industrials, S&P Index   William Kurtz argues the market has peaked
USA Austerity or Simulus   Elliott Morss looks at if and when the USA should be on IMF standby
Economic Ideologies   Delusional Economics says you need to beware economists with ideologies
Europe   Dirk Ehnts argues low interest rates are a transfer of wealth
Iceland   Michael Hudson shows why Iceland needed to reject paying Europe back
Europe Interest Rate Rise   Dirk Ehnts reviews the conflicts of rising RCB interest rates
China   Michael Pettis looks at bank reform