M onthly indicators
6000
Retail furniture sales
Units in millions of $
5750
5500
5250
5000
riod, oil prices flirted with a new high
of $100 per barrel and gas prices at the
pump rose above $3 per gallon. The
Commerce Dept. estimated that consumer prices — even after excluding
energy and food — climbed at an annual pace of 2.7 percent in the fourth
quarter, well above the Fed’s unofficial
comfort zone of 1 to 2 percent.
Regardless of that concern,
however, the Federal Reserve decided
to take an aggressive stance against
the softening economic situation. In
January, it lowered interest rates by
three-quarters of a percent and within
days followed with another half-point
reduction that brought the Federal
Funds Rate down to just 3.0 percent.
This was the fifth rate reduction since
continued
4750
4500
‘06ND J FMAM J J A S ON‘07
Summary
November 2007 5639
% change since
October 2006
November 2006
+ 6.8%
+ 3.1%
Source: U. S. Dept. of Commerce
00
Hardwood prices
Units: 1982 = 100
98
96
94
92
90
88
86
‘06DJ FMAMJ J ASOND‘07
Summary
December 2007 188.7
% change since
November 2006 -1.1%
December 2006 - 3.3%
Source: Commerce Dept. and FDM market research
Retail construction spending
Annual rate in billions of $
90
85
80
75
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Whisper-Ride #4050.845.060 includes:
• Remote control
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70
65
‘06DJ FMAMJ J ASOND‘07
Summary
December 2007 82.1
% change since
November 2006 -1.1%
December 2006 + 7.0%
Source: Commerce Dept. and FDM market research
Pittsboro, NC 27312
Ph: 800-231-9522
Fax: 919-542-2727
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