U.S. retail sales, consumer prices slump in March

[mahatmakanejeeves]

Source: Reuters

Business News | Fri Apr 14, 2017 | 10:30am EDT

U.S. retail sales, consumer prices slump in March

By Lucia Mutikani | WASHINGTON

U.S. retail sales fell for a second straight month in March and consumer prices dropped for the first time in just over a year, supporting views that the economy lost significant momentum in the first quarter.

But with the labor market near full employment, the decline in sales and consumer prices reported by the government on Friday is likely temporary and probably does not change expectations that the Federal Reserve will raise interest rates again in June.

"For the Fed, the underlying momentum is more important in terms of policy decisions, and that looks to be strong, supported by a tightening labor market, rising incomes and high consumer confidence," said Gregory Daco, head of U.S. macroeconomics at Oxford Economics in New York.

The Commerce Department said retail sales dropped 0.2 percent last month after a 0.3 percent decrease in February, which was the first and biggest decline in nearly a year. Compared to March last year retail sales increased 5.2 percent.

Read more: http://www.reuters.com/article/us-usa-economy-idUSKBN17G0ZW

[louis-t]

1. Well, that didn't take long.

I have been saying this current crop of assholes will destroy the economy much quicker than the bush clan.

[Tactical Peek]

2. The Trump Slump

You better believe it.

[Bengus81]

3. The DOW has dropped slowly and silently since March 1st

Not many notice when the BRAGGER in chief see's it going south and shuts his yap about it. DOWN 716 points. Trumps probably relieved the markets are closed today.

[IronLionZion]

4. This bad news is Obama's fault

and possibly Hillary's

All those jobs created is thanks to Donny's brilliant business leadership

[byronius]

5. But I got a spam from a Trump-loving financial adviser that says everything's up 6000%!

'Don't read any further if you're one of those liberals who hates Donald Trump!'

So I didn't. I unsubscribed, then replied to the original with an unpleasant epithet.

Fools and their money -- '6000%!' Golden times indeed. There's a guy who'll clean up on the gullibility of Ignorants.

[progree]

6. The CPI and Core CPI Numbers

CPI: Feb: +0.1%, Mar: -0.3%, 12 months: +2.4%,

Core CPI: Feb: +0.2%, Mar: -0.1%, 12 months: +2.0%,

Big drops in gasoline prices (6.2%) and the cost of wireless telephone services (7.0%)

Food prices rose 0.3 percent. The cost of food consumed at home increased 0.5 percent, the biggest gain since May 2014.

Rents and owners' equivalent rents up 0.6% and 0.5% over the last 2 months combined

(Reuters) http://finance.yahoo.com/news/u-consumer-prices-post-first-124049645.html