Economic Statistics for 1 Mar 16
Motor Vehicle Sales were strong in February, at a 17.5 million annualized pace overall, and 14.1 million for NorthAmerican models.
Construction spending rose a strong 1.5% in January, with a year-on-year increase of 10.4%.
The ISM Manufacturing Index rose 1.3 points to a still-slightly-contractionary 49.5 in February. Meanwhile, the PMI Manufacturing Index held steady at 51.3.
Gallup’s economic confidence index averaged -13 in February. This is significantly below the reading of +1 recorded in February, 2015.
Retail sales weakness continues, as Rebook reports that last week’s retail sales fell to 0.6% on a year-ago basis, from the previous week’s 1.2%.