ACC's Economic Outlook for the Week Ended Nov. 18, 2011

MACROECONOMIC STATUS Our running tab of positive indicators remained steady at 16 out of 20 this week. Thus, we continue to post a green banner. Retail Sales up 0.5%; up 7.2% Y/Y Business Inventories –flat–; up 9.0% Y/Y Building Permits up 10.9%; up 17.7% Y/Y Housing Starts down 0.3%; up 16.5% Y/Y Consumer Prices down 0.1%; up 3.5% Y/Y Producer Prices down 0.3%; up 6.1% Y/Y Industrial Production up 0.7%; up 3.9% Y/Y Capacity Utilization up 0.5 points to 77.8% Leading Economic Indicators up 0.9%; up 6.6% Y/Y Empire State Survey up 9.1 points to a +0.6...

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