Today's Economic News

New Building permits were down from a forecast of 58M to 57M showing a slowdown in future construction. PPI (Producer price index), which is the change in price of finished goods and services sold by producers met forecast of 2%, but exceeded last months figure of -.5%. The PPI is a leading indicator of consumer inflation. If the costs to produce a finished good or service increases that increase will be passed on to the consumer leading to inflation. Housing starts was down from a forecast of 57M to 55M, but beat the previous months number of 54M. Housing starts are considered a leading indicator because they are supposed to create jobs. Overall the housing starts number is flat to down when you look at the past year. Home Depot announced a better quarter with profits up 6.8%, which could be contributed to more people deciding to improve their home instead of shopping around for another. Walmart profit rises 3.6%, which can be attributed to more people trying to save money in their purchases.