Today is a busy day for data in the U.S.
Consumer Sentiment --
The Reuters/University of Michigan consumer sentiment index was in the news today. A preliminary reading of the index for October fell to 67.9 from the 68.2 final reading in September and the preliminary September reading of 66.6. Economists had expected the early-October index to rise to 69.0.
Core CPI --
The Consumer Price Index, a key measure of inflation, rose 1.1% over the last 12 months ending in September, the Bureau of Labor Statistics said Friday, unchanged from the previous month. Any number above zero means prices are rising, but a rate around 1% is considered slow growth.
From the Fed --
Fed Chairman Ben Bernanke said in a speech today that inflation stands in a critically low level which is below the Fed's mandate. Regarding the Labor sector, Bernanke confirmed the difficulty of its recovery describing it as ''painfully slow.''
Retail Sales --
U.S. retail sales rose for a third consecutive month in September, posting a stronger-than-expected increase that should fend off fears of a double-dip recession but doesn't signal a strong recovery. Retail sales rose 0.6% in September, the Commerce Department reported today beating estimates of .4% put forth from a survey by Dow Jones Newswires.
Empire State Manufacturing Index --
The Empire State Manufacturing Survey, released October 15 by the Federal Reserve Bank of New York, ndicates that conditions improved in October for New York State manufacturers. The general business conditions index rose 12 points, to 15.7. The new orders and shipments indexes were also positive and well above their September levels.
