More good news on the economic front......
The producer price index fell 0.7% in November, its largest monthly decline in more than two years, according to the Labor Department.
The core PPI, which excludes food and energy costs, increased 0.1%. The government's PPI measures inflation pressures before they reach the consumer. The decline in November wholesale prices was in line with last week's 0.6% fall in consumer prices, the biggest drop in 56 years.
Economists surveyed by Thomson First Call were expecting the PPI to drop 0.3% and the core PPI to rise by 0.2%.
In other economic news, construction of new homes and apartments increased by 5.2% in November to a seasonally adjusted annual rate of 2.12 million units. Applications for building permits were also up 2.5% to an annual rate of 2.15 million units, according to the government.
Tuesday, December 20, 2005
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