1/16: MetroIntelligence Economic Update by P. DUFFY
Consumer Price Index up 0.2 percent in December and 2.3 percent year-on-year
The Consumer Price Index for All Urban Consumers (CPI-U) rose 0.2 percent in December after rising 0.3 percent in November. Over the last 12 months, the all items index increased 2.3 percent.
Producer Price Index edged up 0.1 percent in December, rose just 1.3 percent in 2019
The Producer Price Index for final demand edged up 0.1 percent in December, after being unchanged in November and rising 0.4 percent in October. On an unadjusted basis, the final demand index moved up 1.3 percent in 2019, after a 2.6-percent advance in 2018.
December small business optimism index fell two points to 102.7, but still at high levels
Small business optimism ended 2019 historically strong, with a reading of 102.7 in December, down 2 points from November. An increased number of small business owners reported better business conditions and expect higher nominal sales in the next three months. While frequency of plans to raise compensation fell 2 points, it remains one of the highest readings in the survey’s 46-year history. Small businesses continued to hire and create new jobs with actual job creation matching November’s reading, the highest since May.