"Economists are pessimists: they've predicted 8 of the last 3 depressions."
--Barry Asmus

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Tuesday, November 16, 2010

Producer Price Index

And now, the moment you've all been waiting for...

No. Steve Jobs didn't jump the gun on the Apple announcement. It's not that huge. This is not the moment you will never forget.

The Producer Price Index figures are out, and they aren't as massive as the analysts were looking for. Which is a good thing, since big percentage changes represent rising costs, which cut into profits and make investors unhappy. For October, PPI increased only 0.4% (not the 0.8% the analysts were looking for), and "core" PPI actually declined 0.6%.

The implication is that most production costs dropped across the board, while energy and/or food production costs either stayed level or increased. Unfortunately, the BLS hasn't gotten around to posting the information on their Producer Price Indexes page, so it's difficult to say exactly what happened at this moment.

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