Global| Feb 15 2002Producer Prices Rose
by:Tom Moeller
|in:Economy in Brief
Summary
Finished producer prices in January rose as expected for the first time in four months. Higher food prices (0.8%) caused the increase. Prior months' data was revised slightly. Finished goods prices fell slightly and are down 0.4% over [...]
Finished producer prices in January rose as expected for the first time in four months. Higher food prices (0.8%) caused the increase. Prior months' data was revised slightly.
Finished goods prices fell slightly and are down 0.4% over the last four months.
Core finished consumer goods prices fell slightly and are down 0.3% during the last four months. Tobacco prices fell sharply.
Prices of home electronic equipment fell for the third month in four. Household furniture prices rose slightly but men's apparel prices collapsed.
Capital equipment prices fell slightly and are down 0.6% over the last four months.
Gasoline prices rose for the first month in four. Residential natural gas prices also rose for the first month in twelve.
Intermediate goods prices fell for the tenth month in twelve. Core intermediate prices were unchanged and are down 0.9% over the last four months.
Crude goods prices rose reflecting higher crude oil and food prices.
| Producer Price Index | Jan '02 | Dec '01 | Y/Y | 2001 | 2000 | 1999 |
|---|---|---|---|---|---|---|
| Finished Goods | 0.1% | -0.6% | -2.8% | 2.0% | 3.7% | 1.8% |
| Core | -0.1% | 0.0% | 0.3% | 1.4% | 1.3% | 1.7% |
| Intermediate Goods | -0.1% | -0.8% | -4.8% | 0.4% | 4.9% | 0.1% |
| Core | 0.0% | -0.2% | -1.8% | -0.1% | 2.6% | -0.3% |
| Crude Goods | 3.7% | -9.6% | -40.2% | 0.5% | 22.8% | 1.5% |
| Core | -0.5% | -0.3% | -9.5% | -10.0% | 7.3% | -4.7% |
by Tom Moeller February 15, 2002
Industrial production fell slightly last month, as expected. December's decline was deepened slightly.
Excluding high tech industries, industrial output fell for the sixth consecutive month, down 3.1% during that period.
Manufacturing output was unchanged, only the third month of no decline since summer 2000.
Output of consumer goods fell but the output of business equipment was up for the first time since August 2000, reflecting higher output of industrial and other business equipment.
Output of high tech products rose for the second month in four, but December's previously reported gain was revised away. Output of computers and office equipment rose for the fourth consecutive month, up 6.2% during the last four months.
| Production & Capacity | Jan '02 | Dec '01 | Y/Y | 2001 | 2000 | 1999 |
|---|---|---|---|---|---|---|
| Industrial Production | -0.1% | -0.3% | -5.1% | -3.7% | 4.5% | 3.7% |
| Capacity Utilization | 74.2% | 74.4% | 79.3%(1/01) | 76.8% | 81.8% | 81.4% |
by Tom Moeller February 15, 2002
The Univ. of Michigan's Index of Consumer Sentiment fell unexpectedly in mid-February. A slight increase has been expected.
The decline in sentiment reflected a lower reading of consumer expectations but a higher reading of the current situation.
The University of Michigan survey is not seasonally adjusted.
| Univ. of Michigan | Mid-Feb '02 | Jan '01 | Y/Y | 2001 | 2000 | 1999 |
|---|---|---|---|---|---|---|
| Consumer Sentiment | 90.9 | 93.0 | 0.3% | 89.2 | 107.6 | 105.8 |
Tom Moeller
AuthorMore in Author Profile »Prior to joining Haver Analytics in 2000, Mr. Moeller worked as the Economist at Chancellor Capital Management from 1985 to 1999. There, he developed comprehensive economic forecasts and interpreted economic data for equity and fixed income portfolio managers. Also at Chancellor, Mr. Moeller worked as an equity analyst and was responsible for researching and rating companies in the economically sensitive automobile and housing industries for investment in Chancellor’s equity portfolio. Prior to joining Chancellor, Mr. Moeller was an Economist at Citibank from 1979 to 1984. He also analyzed pricing behavior in the metals industry for the Council on Wage and Price Stability in Washington, D.C. In 1999, Mr. Moeller received the award for most accurate forecast from the Forecasters' Club of New York. From 1990 to 1992 he was President of the New York Association for Business Economists. Mr. Moeller earned an M.B.A. in Finance from Fordham University, where he graduated in 1987. He holds a Bachelor of Arts in Economics from George Washington University.
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