Retail sales, PPI keep heading south

Retail sales fell for the fifth consecutive month — 1.8% in November — according to the Department of Commerce.
DEC 12, 2008
By  Bloomberg
Retail sales fell for the fifth consecutive month — 1.8% in November — according to the Department of Commerce. That’s compared with a 2.9% decline in October. The November decline was short of the 2% decline expected by economists who were surveyed by Briefing.com Inc. of Chicago. Retail sales had fallen 7.4% since November 2007, according to the Commerce Department. November gasoline-station sales plummeted 14.7% in November, following a 12.9% drop in October. The decline in retail sales reflected a 2.8% decline in sales at automobile and auto parts dealers. Retail sales, excluding automobiles and parts, fell 1.6% in November, which was short of the 1.8% decline that was estimated by economists surveyed by Briefing.com. In another report, the producer price index, a barometer of wholesale inflation, declined 2.2% in November, marking its fourth consecutive monthly decline, according to a Department of Labor report. That followed a 2.8% drop in October. The November decline was due in part to an 11.2% decrease in energy prices, while food prices were unchanged. The core PPI, which excludes food and energy prices, rose 0.1% on the month, down from a 0.4% gain in October and was the smallest increase since March. Economists surveyed by Briefing.com expected that the producer price index would fall 2%, while they expected the core rate to increase 0.1%.

Latest News

Advisor moves: RBC swipes $1.7B UBS team, Baird duo departs for LPL's Linsco channel
Advisor moves: RBC swipes $1.7B UBS team, Baird duo departs for LPL's Linsco channel

RBC Wealth Management's latest move in New York adds an elite eight-member team to its recently opened Westchester office.

Stifel star broker, Chuck Roberts, leaves firm under cloud of investor complaints
Stifel star broker, Chuck Roberts, leaves firm under cloud of investor complaints

Stifel – so far - is on the hook for more than $166 million in damages, legal fees and settlements in investor complaints involving Roberts, a 35-year industry veteran.

iCapital secures $820M in latest funding, hits $7.5B
iCapital secures $820M in latest funding, hits $7.5B

The giant alt investments platform's latest financing led by T. Rowe Price and SurgoCap Partners, along with State Street, UBS, and BNY, will fuel additional growth on multiple fronts.

Merrill Lynch on the hook for $3.7M after clients claimed sale of unsuitable private equity
Merrill Lynch on the hook for $3.7M after clients claimed sale of unsuitable private equity

Some investors recently have seen million dollar plus decisions by FINRA arbitration panels involving complex products decisions go their way.

What does it take to feel 'financially comfortable' or 'wealthy' in 2025?
What does it take to feel 'financially comfortable' or 'wealthy' in 2025?

New report shines a light on how Americans view wealth today.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.