Jobless Claims (week ended 3/9/2013)
– Initial Claims (seasonally adjusted) were 332,000. Previous revised from 340,000 to 342,000.
– Unadjusted Claims were 315,356
– 4-week Moving Average 346,750.
This data is positive for the economy. Last week had no holidays and no significant seasonal adjustment.
PPI (February 2013)
– PPI – Month/Month 0.7%
– PPI – Year/Year 1.8%
– PPI core (less food & energy) – Month/Month 0.2%
– PPI core (less food & energy) – Year/Year 1.7%
As with yesterday’s Retail Sales and Import/Export data this report only tells us that we had spikes in the prices of oil and gasoline last month. The core data is what should be watched and core inflation remains calm.