ACC's economic outlook for the week ended 19 October 2012

MACROECONOMIC STATUS Our running tab of positive indicators slipped to 14 out of 20 this week. Thus, we continue to post a green banner. Retail Sales up 1.1%; up 5.4% year-on-year (YOY) Consumer Prices up 0.6%; up 2.0% YOY Existing Home Sales down 1.7%; up 11.0% YOY Housing Starts up 15.0%; up 34.8% YOY Building Permits up 11.6%; up 45.1% YOY Business Inventories up 0.6%; up 5.3% YOY Industrial Production up 0.4%; up 2.8% YOY Capacity Utilization up 2.9% YOY LEI up 0.6%; up 2.9% YOY Philadelphia Fed Survey up 8 points, to 5.7 (expanding) Empire State Survey up 4...

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