Economic Statistics for 3 Feb 15
January auto sales weakened by -1.2% to 16.7 million annual rate, following December’s -0.7% decline. Having said that, sales are still strong compared to a year ago, and the weakness is centered in foreign-made vehicles.
Gallup’s U.S. Economic Confidence Index rose from -5 to 3 in January, the first positive reading since 2008.
Redbook reports retail sales rose 3.8% on a year-ago basis, from last week’s 3.2%.
Factory orders are weak at the headline level, down -3.4% in December, and the fifth straight decline. Excluding defense goods and civilian aircraft, however, orders are actually up 0.1%.