· Advance estimates of retail and food services sales for September were up 1.6% from the previous month, and were up 4.4% from a year ago, according to the U.S. Census Bureau. Excluding motor vehicle & parts, retail sales were up 1.0% from the previous month, and were up 4.6% from a year ago. Year-to-date, retail sales were up 3.8% from the first nine months of 2016.
· Total manufacturing and trade sales for August increased 0.7% from July, following a 0.3% increase as in the previous month, according to the U.S. Census Bureau. Inventories increased 0.7%, following a 0.3% increase in the previous month. The total business inventories/sales ratio was 1.38 in August, compared with 1.40 a year ago.
· The producer price index for total final demand increased 0.4% in September, following a 0.2% increase in the previous month. The index for final demand less foods, energy and trade increased 0.2%, the same increase as in the previous month. The producer price index for final demand increased 2.6% from September 2016 to September 2017, while the index for final demand less foods, energy and trade increased 2.1%.
· The consumer price index increased 0.5% in September, following a 0.4% increase in the previous month. The core index increased 0.1%, following a 0.2% increase as in the previous month. The consumer price index increased 2.2% for the 12-month period ending in September, while the core index rose 1.7%.
· Real average hourly earnings for all employees decreased 0.1% from August to September. This result stems from 0.5% increase in average hourly earnings, being offset by a 054% increase in the consumer price index for all urban consumers.
· The advance figure for initial claims for unemployment insurance was 243 thousand in the week ending October 7, a decrease of 15 thousand from the previous week. The 4-week moving average was 257.5 thousand, a decrease of 9.5 thousand from the previous week’s average. Hurricanes Harvey, Irma, and Maria impacted this week’s initial claims.
· The number of jobs openings was little changed at 6.1 million on the last business day of August, according to the U.S. Bureau of Labor Statistics. The number of hires and separations were also little changed at 5.4 million and 5.2 million, respectively.
· The results of Freddie Mac’s Primary Mortgage Market Survey showed average fixed mortgage rates posting biggest week-over-week increases since July 2017. The 30-year fixed mortgage rate averaged 3.91% for the week ending October 12, up from last week when it averaged 3.85%. A year ago at this time, the 30-year fixed-rate averaged 3.47%. The 15-year fixed mortgage rate averaged 3.21%, up from last week when it averaged 3.15. A year ago at this time, the 15-year fixed-rate averaged 2.76%.
· Mortgage applications decreased 2.1% from a week earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending October 6th.
· The Thomson Reuters/University of Michigan Index of Consumer Sentiment, preliminary, for October surged to 101.1, from 95.1 in September. The Current Conditions Index increased to 116.4, from 111.7. On the other hand, the Index of Consumer Expectations increased to 91.3, from 84.4.