by Christina Lee on December 12th, 2008
A collective analysis of studies released this week paint a revealing, evocative portrait of the nation’s economic environment. As prices drop, spending drops even further, as an opaque cloud of consumer pessimism remains hovering over the nation. But below, amongst all of the downward activity, researchers are searching for that cloud’s silver lining.
On the Ground Below
The Bureau of Labor Statistics, National Retail Federation, and Census Bureau released reports indicating that wholesalers and retailers are still adjusting to the economic climate, as price indexes continued to fall:
Retail container traffic fell in November for the 16th month in a... Read more »
by Christina Lee on November 19th, 2008
Consumer prices dropped in October by 1.0 percent – the largest decline ever measured by the Bureau of Labor Statistics, and a sure sign to economists that prices are deflating.
Economists also noted as another indicator yesterday’s recorded 2.8 percent decline in wholesale prices – the biggest decline measured since over the past year.
While consumer prices are still 3.7 percent higher than they were in October 2007, experts still fear that overall business in the nation will suffer, as consumers actively seek lower prices in goods and services. As About.com writer Darrell Zahorsky wrote , deflation is “great news... Read more »
by Christina Lee on November 18th, 2008
The Bureau of Labor Statistics reported today wholesale energy and gasoline prices dropped dramatically in October – ultimately, a stark indication of decreasing demand resulting from the global economic downturn.
While wholesale energy prices fell 12.8 percent, wholesale gasoline prices dropped 24.9 percent after just a 0.5 percent decline last month.
So far in November, falling oil barrel prices and consumption have made current gasoline prices the lowest since summer 2005, according to the U.S. Department of Energy. The average retail price also dropped yesterday to $2.132 a gallon – a 2008 all-time low after prices peaked to $4.165 in... Read more »
by Christina Lee on October 21st, 2008
Wholesale prices dropped for the second month in a row after reaching the highest annual rate in 27 years, according to a U.S. Department of Labor report.
Prices fell by 0.4 percent in September, following a 0.9 percent decrease the previous month. They are still 8.7 percent higher than they were in September 2007, as the Bureau of Labor Statistics reported last week.
The two-month drop in wholesale prices – collectively referred to as the producer price index – follows a 1.2 percent month-to-month increase and a 9.8 percent rise from July 2007, that being the sharpest increase since a... Read more »