Sonja Rudd Quotes (5 Quotes)

Retailers, after reporting a better than expected January, are having the opposite effect for February. Cold blizzard-like conditions in the Midwest and eastern Atlantic states hurt same-store sales, although Wal-Mart showed a 2.9 gain. Retailers are looking forward to March with the Easter spending.

In economic news, the Federal Reserve said that manufacturing output was down for the northeast with the Empire state off 20.1 from 26.3 in December. Industrial output nationally increased by 0.6 nationally while capacity utilization was at 80.7. These numbers are important as the FOMC looks at them closely in determining inflationary trends. These numbers are still pointing to an expanding economy.

The Labor Department noted that first time claims were down to 271,000, some of the lowest numbers since 2000. New housing starts fell 8.9 in December according to the Commerce Department and new building permits also dropped by 4.4.

New home sales surprised the experts. The Commerce Department said that new home sales were up by 13.8 for March, and last week used home sales were up as well. One economist says that the housing market still has a lot of room to maneuver and that a slump is more like a 'soft landing' for 2006. The 30-year mortgage is averaging 6.49 nationwide.

The Labor Department also noted that for 2005 consumer prices overall rose by the largest rate in five years, partly because of spiraling interest rates and energy prices. The CPI was up by 3.4 for the 12 months ending in December. However, taking out core numbers from food and energy, the number was up only 2.2.