Afternoon Coffee: Import Prices Decline (Again) in April, Retail Prices Unchanged

US import prices were down in April again, marking the 10th consecutive month of declines. Import prices dropped 0.3% last month after falling 0.2% in March.

April retail sales were unchanged from March numbers, and over the past year, sales have seen an unimpressive rise of 0.9%. US consumers reportedly cut back on buying cars, furniture, building supplies, gas and groceries during April.

The non-residential construction market is one area showing growth in the economy. Warehouse spending increased 46% in 2014, a Wells Fargo Securities Economics Group report stated, and more spending is expected this year.

Toyota and Nissan are recalling millions of more vehicles around the globe due to the Takata Corp. air bag issue. A total of 35 models are included in the latest round of recalls due to a defect with the driver-side air bag, which can deploy abnormally.

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