Still below the Fed’s target and ‘core’ moving down a bit year over year:
Consumer Price Index
Housing starts better than expected, permits up a bit and last month’s revised down a bit.
And, of course, no house legally gets built without a prior permit and the chart isn’t looking promising:
Still down and out:
And E commerce retail sales growth is working its way lower as well:
Note the % change this year vs last year chart, which takes out all the ‘seasonal’ factors, remains negative:
The two Feds are somewhat divergent. And I still don’t see the credit expansion required to offset savings desires: