U.S. Economic News
September 15, 2017
U.S. Economic Indicators
The University of Michigan Consumer Sentiment Index fell 1.5 points to 95.3 in the preliminary September reading but is up 4.1 points on the year. The Index of Consumer Expectations declined 4.3 points to 83.4, while the Current Economic Conditions Index rose 3.0 points to 113.9. Report
Industrial production fell 0.9% in August (up 1.5% Y/Y), mostly due to the effects of Hurricane Harvey. Capacity utilization dropped to 76.1. Fed Report
Retail sales fell 0.2% in August but were up 3.2% on the year. Core sales — which excludes autos, gasoline, building materials, and food services — also dropped 0.2%. Census Bureau Report
Business inventories rose 0.2% in July and were up 3.0% from last year. Manufacturers’ sales also increased 0.3% from June to July and were up 4.9% on the year. Census Bureau Report
U.S. News
The Wall Street Journal reports that new Census Bureau data show that the share of Americans who moved to a different residence last year fell to its lowest point in a decade. Research shows that the stagnation is entirely driven by people under the age of 29, while older workers and those near retirement age are actually relocating more than in the past. WSJ