{"id":190022,"date":"2010-01-15T18:21:00","date_gmt":"2010-01-15T23:21:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2010\/01\/15\/economics-update-101\/"},"modified":"2010-01-15T18:21:00","modified_gmt":"2010-01-15T23:21:00","slug":"economics-update-101","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2010\/01\/15\/economics-update-101\/","title":{"rendered":"Economics Update"},"content":{"rendered":"
Click for full size<\/p>\n
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<\/a> Another Transportation Indicator of Non-Recovery
<\/span><\/div>\n

The Federal Reserve has released its Industrial Production and Capacity Utilization<\/a> data, and it shows a 0.6% increase in December, though, as Dean Baker notes, it would have fallen but for increased electricity and gas consumption from the weather<\/a>.<\/p>\n

This is kind of in line with the LA\/Long Beach port traffic data<\/a> for December, the last 3 months of the year were down -9.2% year over year, though they were up +2.9% Y0Y in December.<\/p>\n

As the associated graph pr0n shows, there is a big<\/span> seasonal variation, so only YoY is the only meaningful data.<\/p>\n

Still, the Empire State Fed Index is at 15.9<\/a>, with numbers above zero indicating expansion, and Reuters\/University of Michigan index of consumer sentiment rose to 72.8, though this was less than the forecast of 74.<\/p>\n

Inflation is mooted, CPI rising by only 0.1% in December<\/a>, and the figure, at least the initial inflation number, for the year was 2.7% inflation in 2009<\/a>, largely on the fact that energy and other commodity prices are much higher, +50% on a gallon of gas, for example.<\/p>\n

Ex-energy, we are still looking at deflation.<\/p>\n

In real estate, once again, New York City is not doing, well, which means that no one is doing well, with properties across the 5 boroughs rising by only 0.12%<\/a>, $1,200 on a million dollar property for the mathematically disinclined, and in Manhattan, <\/span>rents fell 9.4%<\/a>.<\/p>\n

Finally, we had warm weather pushing oil down again<\/a>, and the dollar rose<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Click for full size Another Transportation Indicator of Non-Recovery The Federal Reserve has released its Industrial Production and Capacity Utilization data, and it shows a 0.6% increase in December, though, as Dean Baker notes, it would have fallen but for increased electricity and gas consumption from the weather. This is kind of in line with …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[973,1135,1200,1088,1089],"tags":[],"class_list":["post-190022","post","type-post","status-publish","format-standard","hentry","category-economy","category-energy","category-inflation","category-real-estate","category-recession"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/190022"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=190022"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/190022\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=190022"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=190022"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=190022"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}