seasonally adjusted PPI for finished goods fell 0.6% in February

[ASH]

From BLS:

The Producer Price Index for Finished Goods declined 0.6 percent in February, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. This decrease followed a 1.4-percent advance in January and a 0.4-percent increase in December. At the earlier stages of processing, prices received by producers of intermediate goods moved up 0.1 percent and the crude goods index fell 3.5 percent. On an unadjusted basis, prices for finished goods advanced 4.4 percent for the 12 months ended February 2010, their fourth consecutive 12-month increase.

Nothing too exciting. I was led to expect somewhat stronger inflationary signals in Q1 2010.

I notice that the unadjusted PPI was up 4.4%. That's a 5% downward seasonal adjustment.

[c1ue]

Re: seasonally adjusted PPI for finished goods fell 0.6% in February

It is more useful to view the 12 month chart:

Month	Finished goods					Intermediate goods	Crude goods
	Total	Foods	Energy	Except foods and energy	Change in finished goods from 12 months ago (unadj.)
2009
Feb.	-0.2	-1.5	0.2	0.1	-1.4	-0.8	-6.1
Mar.	-0.8	-0.8	-3.8	0.2	-3.4	-1.3	-0.6
Apr.	0.6	1.6	1.4	0.1	-3.5	0.1	2.4
May	0.0	-1.4	1.8	-0.1	-4.8	0.5	3.2
June	1.8	1.0	7.6	0.3	-4.4	1.1	4.3
July	-1.2	-1.3	-4.5	-0.1	-6.9	-0.5	-3.3
Aug.	1.5	0.3	6.2	0.3	-4.4	1.7	4.5
Sept.	-0.5	0.0	-1.8	-0.1	-4.9	0.0	-2.2
Oct.(1)	0.2	1.3	1.2	-0.5	-2.0	0.4	7.0
Nov.(1)	1.7	0.7	6.3	0.5	2.4	1.4	4.2
Dec.	0.4	1.3	0.7	0.0	4.4	0.6	0.8
2010
Jan.	1.4	0.4	5.1	0.3	4.6	1.7	9.6
Feb.	-0.6	0.4	-2.9	0.1	4.4	0.1	-3.5
Footnotes (1) Some of the figures shown above and elsewhere in this release may differ from those previously reported because data for October 2009 have been revised to reflect the availability of late reports and corrections by respondents.

Finished goods - complete turnaround from post-financial crash starting in November.

Then look at the non seasonably adjusted by trade group category

Industry(1)	Industry code	Index base	Index			Percent change to Feb. 2010 from:
			Oct. 2009(2)	Jan. 2010(2)	Feb. 2010(2)	Feb. 2009	Jan. 2010
Total mining, utilities, and manufacturing industries		12/06	107.3	110.0	109.7	4.8	-0.3
Total mining industries		12/84	192.3	234.4	224.3	41.1	-4.3
Oil and gas extraction	211	12/85	210.8	277.3	261.6	69.8	-5.7
Mining (except oil & gas)	212	12/03	189.7	196.0	193.4	4.7	-1.3
Mining support activities	213	06/09	99.1	99.1	100.3	-10.0	1.2
Utilities	221	12/03	128.8	130.9	133.4	0.4	1.9
Total manufacturing industries		12/84	168.9	173.0	172.1	5.0	-0.5
Food mfg	311	12/84	168.3	171.8	172.3	2.1	0.3
Beverage & tobacco mfg	312	12/03	120.6	121.9	121.9	2.3	0.0
Textile mills	313	12/84	112.1	112.3	112.9	-0.1	0.5
Textile product mills	314	12/03	116.4	116.0	117.6	3.2	1.4
Apparel manufacturing	315	12/03	103.7	103.6	103.5	0.0	-0.1
Leather and allied product manufacturing	316	12/84	153.3	153.0	153.5	-0.8	0.3
Wood product manufacturing	321	12/03	102.7	103.5	105.4	1.3	1.8
Paper manufacturing	322	12/03	121.7	121.7	122.7	-2.6	0.8
Printing and related support activities	323	12/03	109.2	109.2	109.4	-0.2	0.2
Petroleum and coal products manufacturing	324	12/84	240.8	275.6	260.7	47.8	-5.4
Chemical mfg	325	12/84	225.0	229.6	231.7	2.9	0.9
Plastics and rubber products mfg	326	12/84	161.5	161.7	162.9	0.8	0.7
Nonmetallic mineral product mfg	327	12/84	172.3	171.8	172.5	-2.0	0.4
Primary metal mfg	331	12/84	180.7	185.3	187.4	8.1	1.1
Fabricated metal product mfg	332	12/84	174.1	174.2	175.3	-1.4	0.6
Machinery mfg	333	12/03	120.1	120.3	120.4	0.0	0.1
Computer & electronic product mfg	334	12/03	91.9	91.8	91.4	-1.1	-0.4
Electrical equipment, appliance & component mfg	335	12/03	129.7	130.9	130.8	3.2	-0.1
Transportation equipment mfg	336	12/03	110.2	110.8	110.8	0.8	0.0
Furniture & related product mfg	337	12/84	176.7	176.3	175.9	-0.6	-0.2
Miscellaneous mfg	339	12/03	111.6	112.0	112.2	0.7	0.2
Total trade industries		12/06	111.2	110.9	113.8	2.8	2.6
Total wholesale trade industries		12/06	116.5	116.9	118.9	2.9	1.7
Merchant wholesalers, durable goods	423	06/04	118.0	121.3	122.2	2.4	0.7
Merchant wholesalers, nondurable goods	424	06/05	137.2	134.0	138.2	4.0	3.1
Wholesale trade agents and brokers	425	06/05	111.0	108.5	109.4	-1.4	0.8
Total retail trade industries		12/06	107.7	106.9	110.4	2.6	3.3
Motor vehicle and parts dealers	441	12/03	122.1	121.4	120.7	1.9	-0.6
Furniture and home furnishings stores	442	12/03	121.8	121.6	120.6	-0.3	-0.8
Electronics and appliance stores	443	12/03	106.0	109.6	101.7	-1.9	-7.2
Bldg material and garden equip and supp dealers	444	12/03	116.2	117.0	121.1	0.7	3.5
Food and beverage stores	445	12/99	146.9	146.1	151.5	-0.1	3.7
Health and personal care stores	446	12/03	138.7	138.2	141.7	4.2	2.5
Gasoline stations	447	06/01	61.9	71.9	74.1	4.4	3.1
Clothing and clothing accessories stores	448	12/03	117.5	108.6	115.6	10.0	6.4
Sporting goods hobby, book and music stores	451	12/03	111.2	111.3	114.6	2.6	3.0
General merchandise stores	452	12/03	107.0	97.8	109.6	5.2	12.1
Florists	4531	12/03	105.2	111.9	114.9	3.3	2.7
Office supplies, stationery and gift stores	4532	12/03	118.0	116.0	119.9	2.7	3.4
Manufactured (mobile) home dealers	45393	12/03	113.6	110.7	110.7	-1.2	0.0
Nonstore retailers	454	12/03	144.1	143.7	154.2	0.2	7.3
Transportation and warehousing industries		12/06	108.6	111.0	110.6	2.2	-0.4
Transportation industries		12/06	106.3	108.4	107.9	1.2	-0.5
Air transportation	481	12/92	188.5	199.9	195.1	2.4	-2.4
Rail transportation	482	12/96	150.3	151.7	151.5	2.6	-0.1
Water transportation	483	12/03	116.8	118.3	121.1	2.2	2.4
Truck transportation	484	12/03	117.4	117.5	117.8	0.1	0.3
Pipeline transportation of crude oil	486110	06/86	158.6	191.8	191.8	21.5	0.0
Refined petroleum product pipeline transport	486910	06/86	152.0	153.6	153.6	7.3	0.0
Transportation support activities	488	12/03	108.2	108.4	108.6	-0.3	0.2
Delivery and warehouse industries		12/06	115.5	118.9	118.8	5.4	-0.1
Postal service	491	06/89	186.8	187.7	187.7	3.4	0.0
Couriers and messengers	492	12/03	143.8	152.3	152.0	8.6	-0.2
Warehousing and storage	493	12/06	107.2	107.4	106.6	-0.6	-0.7
Total traditional service industries		12/06	103.9	104.3	104.4	2.0	0.1
Information		12/06	102.1	101.4	101.2	-1.4	-0.2
Publishing industries, except Internet	511	12/03	111.4	110.1	110.1	-1.6	0.0
Broadcasting, except Internet	515	12/03	103.5	104.4	103.8	-4.0	-0.6
Telecommunications	517	12/03	101.1	100.5	100.4	-0.7	-0.1
Internet service providers	5181	06/04	70.2	70.9	70.2	-2.2	-1.0
Data processing and related services	5182	12/03	101.0	100.7	100.7	-0.2	0.0
Internet publishing and web search portals	519130	12/09	-	100.1	100.0	-	-0.1
Selected health care industries		12/06	109.2	109.7	110.0	2.8	0.3
Offices of physicians	6211	12/96	127.4	128.4	128.5	2.3	0.1
Medical and diagnostic laboratories	6215	12/03	108.3	108.4	107.6	-1.0	-0.7
Home health care services	6216	12/96	128.8	129.1	129.4	1.4	0.2
Blood and organ banks	621991	06/06	111.4	111.9	112.4	1.5	0.4
Hospitals	622	12/92	171.2	171.8	172.5	3.4	0.4
Nursing care facilities	6231	12/03	123.8	125.3	125.3	2.5	0.0
Residential mental retardation facilities	62321	12/03	125.6	124.8	124.9	3.8	0.1
Other selected traditional service industries		12/06	102.3	102.9	103.1	2.4	0.2
Depository credit intermediation	5221	12/03	100.6	103.4	102.9	6.1	-0.5
Security, commodity contracts and like activity	523	12/03	116.4	118.0	116.7	4.5	-1.1
Insurance carriers and related activities	524	12/03	114.5	115.1	115.6	2.9	0.4
Lessors of nonres bldg (exc miniwarehouse)	53112	12/03	109.5	109.2	109.8	0.7	0.5
Lessors of miniwarehouse and self storage units	53113	12/03	112.8	112.5	111.4	-1.9	-1.0
Offices of real estate agents and brokers	5312	12/03	102.0	101.9	102.0	0.4	0.1
Real estate property managers	53131	12/03	107.4	107.9	107.5	-1.0	-0.4
Offices of real estate appraisers	531320	12/03	93.8	95.1	95.1	-0.8	0.0
Automotive equipment rental and leasing	5321	06/01	135.8	130.5	134.7	1.3	3.2
Other heavy machinery rental and leasing	532412	12/03	117.4	115.7	117.4	0.1	1.5
Legal services	5411	12/96	166.6	168.3	168.7	1.9	0.2
Offices of certified public accountants	541211	12/03	114.7	113.0	114.3	-0.8	1.2
Other accounting services	541219	12/03	106.3	106.6	106.6	0.4	0.0
Architectural, engineering and related services	5413	12/96	142.8	143.0	143.2	0.2	0.1
Management and technical consulting services	5416	06/06	107.1	107.5	107.6	0.4	0.1
Advertising agencies	54181	12/03	104.6	104.7	104.7	-0.7	0.0
Employment services	5613	12/96	123.2	123.4	124.2	0.2	0.6
Travel agencies	56151	12/03	98.5	98.5	100.7	-1.1	2.2
Security guards and patrol services	561612	12/04	108.3	108.3	108.3	-0.1	0.0
Janitorial services	56172	12/03	110.3	110.6	110.5	0.7	-0.1
Waste collection	5621	12/03	116.9	116.0	115.4	1.9	-0.5
Computer training	61142	06/06	110.6	110.5	110.6	-1.3	0.1
Amusement and theme parks	71311	06/06	114.5	114.5	114.5	5.4	0.0
Golf courses and country clubs	71391	12/05	104.2	106.0	106.2	0.9	0.2
Fitness and recreational sports centers	71394	12/04	100.0	100.1	100.1	0.8	0.0
Accommodation	721	12/96	141.8	136.9	138.2	-1.2	0.9
Commercial machinery repair and maintenance	8113	06/06	106.9	106.9	108.8	2.1	1.8
Footnotes (1) Indexes in this table are derived from the net-output-weighted industry price indexes. Because of differences in coverage and aggregation methodology, they will generally not match the movements of similarly titled indexes which are derived from traditional commodity groupings. (2) The indexes for October 2009 have been recalculated to incorporate late reports and corrections by respondents. All indexes are subject to revision 4 months after original publication.
"-" Data not available. NOTE: NAICS replaced the SIC system beginning with the release of PPI data for January 2004. See http://www.bls.gov/ppi/ppinaics.htm for details.