GM posts huge loss, will offer buyouts: 100% of 74,000 workers ...

The operating of the factory sector edged down to 79.7%, down from a peak of 81.4% in July 2007. The decline in the operating rate is indicative of the absence of inflationary pressures.

Import Prices Present a Problem

The total import price index rose 1.7% in January, reflecting a 5.5% increase in prices of petroleum and petroleum related products and a 0.6% increase in price of non-petroleum imports. Excluding fuel, the import price index advanced 0.6% in January. The import price index excluding fuel was up 3.3% on a year-to-year basis in January. A pass through of these higher prices is one of the concerns the FOMC. The deteriorating trend of the dollar is largely the culprit behind this upward trend of import prices excluding fuel. The trade weighted value of the dollar and the year-to-year change in the import price index excluding fuel show a strong negative correlation (see chart 4). read more