4247 Outlook

July 14 Outlook

Jul 14, 2017  | Ep4247

Legendary sports broadcaster Keith Jackson said his trademarked “Whoa, Nellie!” to describe big plays. He could now be using it to characterize consumers holding back on their spending.--

Retail sales, roughly 70 percent of U.S. economic activity, fell 0.2 percent in June after a decline in May. Much of the reduction comes in trips to restaurants, department stores and gasoline stations.

When you remove volatile auto sales, the rate also moved lower by 0.2 percent.

While shoppers are making fewer purchases, the consumer price index remained unchanged.

Eliminating the unstable factors of food and energy, the CPI rose 0.1 of a percent.

Inflation remained stagnant last month as the Labor Department reported the producer price index rose 0.1 percent.

More from this show

Grinnell Mutual Insurance