Free Markets, Free People

Economic Statistics for 3 Feb 14

Motor vehicle sales fell 3.1% overall in January, with just over a million vehicles sold, and only Chrysler and Nissan showing gains. GM: -12%, Ford -7%, Toyota: -7.2%, VW: -19%, Honda: -2.1% Fiat Chrysler: 8%, Nissan: 11.8%.

The Gallup US Consumer Spending Measure fell to $78 of daily spending in January, versus $96 in December.

Markit’s PMI Manufacturing Index fell -1.3 points to 53.7 in January.

The ISM manufacturing composite index is down sharply, by -5.7 points to 51.3 in January.

December Construction Spending rose a slight 0.1% in December, a 5.3% gain from the previous year.

Today’s downbeat economic numbers were no help to US stock markets, already under pressure from overnight slumps in world markets. The Dow Industrials ended the day  down -326.05 to 15,372.80.

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