ACC's Economic Outlook for the Week Ended Aug. 19, 2011

MACROECONOMIC STATUS Our running tab of positive indicators remained at 15 out of 20 this week. Thus, we post a green banner but one with a yellowish tint. Housing Starts down 1.5%; up 9.8% Y/Y Building Permits down 3.2%; up 3.8% Y/Y Existing Home Sales down 3.5% to 4.67 million units; up 21.0% Y/Y Consumer Prices up 0.5%; up 3.6% Y/Y Import Prices up 0.3%; up 14.0% Y/Y Producer Prices up 0.2%; up 7.2% Y/Y Industrial Production up 0.9%; up 3.7% Y/Y Capacity Utilization up 0.6 points to 77.5% Empire State Survey down 3.9 to ‐7.7 points Philly Fed Survey down...

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