Free Markets, Free People

Economic Statistics for 18 Feb 15

Net foreign demand for long-term US securities rose $35.4 billion in December, mainly on US selling of foreign securities. Foreign accounts were actually net sellers in the month.

The MBA reports that mortgage applications fell for the 5th straight week, down -13.2%, with purchases down 7.0% and refis down 16%.

Housing starts fell -2.0%in January, to a 1.065 million annual rate, though that is an 18.7% increase over a year ago.

The Producer Price Index for Final Demand fell -0.8% in January, while prices less food and energy fell -0.1%. Prices less food, energy & trade services fell -0.3%. Overall, prices for Goods fell -2.1% while Services prices fell -0.2%. Prices on a year-over-year basis:

PPI-FD: -0.1%
PPI-FD less food & energy: 1.5%
PPI-FD less food, energy & trade services: 0.9%
PPI-FD Goods: -3.9%
PPI-FD Services: 1.9%

Redbook reports retail sales rose 3.2% on a year-ago basis, up from last week’s 2.1%.

The Fed reports that Industrial production rose 0.2% in January, while capacity utilization in the nation’s factories fell -0.3% to 79.4%. Manufacturing output rose 0.2%.

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