ACC's Economic Outlook for the Week Ended Aug. 17, 2012

MACROECONOMIC STATUS Our running tab of positive indicators rose by two, to 13 out of 20 this week. Thus, we post a green banner but one with a yellowish tint. Consumer Prices flat; up1.4% YOY Producer Prices up 0.3%; up 0.5% YOY Retail Sales up 0.8%; up 4.1% YOY Business Inventories up 0.1%; up 5.0% YOY Housing Starts down 1.1%; up 21.5% YOY Building Permits up 6.8%; up 29.5% YOY Industrial Production up 0.6%; up 4.4% YOY Capacity Utilization up 0.4 percentage points, to 79.3% Small Business Optimism down 0.2 points, to 91.2 (still low) Empire State Mfg. Survey...

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