It's crying time again for one of Hillary's biggest shills and a gaggle of members from the dismal science crowd whose predictions turned out, well, dismal. Real dismal.
We could say we told you so, but then we would have to confront what the Clinton clan, including that renown metabolic specialist, Dr. Bill Clinton, have been circumventing about Hillary's illness since they've been mining diamonds in Arkansas. Read more:
mishtalk.com/2016/09/14/import-and-export-prices-sink-bloomberg-bemoans-setback-to-improving-inflation-data
We could say we told you so, but then we would have to confront what the Clinton clan, including that renown metabolic specialist, Dr. Bill Clinton, have been circumventing about Hillary's illness since they've been mining diamonds in Arkansas. Read more:
mishtalk.com/2016/09/14/import-and-export-prices-sink-bloomberg-bemoans-setback-to-improving-inflation-data
Export prices sank 0.8% in August vs. the Econoday Consensus of -0.1%.
Amusingly, the entire range of exports predictions was -0.2% to +0.1%. On a percentage basis, the closest economist missed the mark by 300% and the consensus by 700%.
Import prices fell 0.2% vs. a consensus of -0.1% in a range of -0.4% to +0.2%. At least one economist got the number correct, and at least one economist was on Mars.
Highlights
August import prices were down for the first monthly decrease since February. Import prices slipped 0.2 percent and dropped 2.2 percent from a year ago. Expectations were for a monthly decline of 0.1 percent. The August downturn was driven by lower fuel prices. Excluding foods and fuels, import prices were unchanged on the month. Fuel prices declined 2.1 percent in August following a 2.5 percent drop in July. Both the August and July decreases were driven by lower petroleum prices which fell 2.8 percent in August and 3.6 percent in July. In contrast, prices for natural gas increased 12.1 percent in August and 28.0 percent the previous month.
Export prices sank 0.8 percent after increasing 0.2 percent last time. This was the first monthly drop since the index edged down 0.1 percent in March. The consensus view was that prices would edge down just 0.1 percent. On the year, export prices declined 2.4 percent. Excluding agriculture, prices were down 2.2 percent from a year ago. Agricultural export prices decreased 3.4 percent in August, the largest monthly drop since the index fell 4.2 percent in August 2013.
Clearly, the drop in import prices will be a setback to improving inflation data in the U.S. with no pressure yet for finished goods prices.
August import prices were down for the first monthly decrease since February. Import prices slipped 0.2 percent and dropped 2.2 percent from a year ago. Expectations were for a monthly decline of 0.1 percent. The August downturn was driven by lower fuel prices. Excluding foods and fuels, import prices were unchanged on the month. Fuel prices declined 2.1 percent in August following a 2.5 percent drop in July. Both the August and July decreases were driven by lower petroleum prices which fell 2.8 percent in August and 3.6 percent in July. In contrast, prices for natural gas increased 12.1 percent in August and 28.0 percent the previous month.
Export prices sank 0.8 percent after increasing 0.2 percent last time. This was the first monthly drop since the index edged down 0.1 percent in March. The consensus view was that prices would edge down just 0.1 percent. On the year, export prices declined 2.4 percent. Excluding agriculture, prices were down 2.2 percent from a year ago. Agricultural export prices decreased 3.4 percent in August, the largest monthly drop since the index fell 4.2 percent in August 2013.
Clearly, the drop in import prices will be a setback to improving inflation data in the U.S. with no pressure yet for finished goods prices.
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