Free Markets, Free People

Economic Statistics for 16 Mar 16

The Consumer Price Index fell -0.2%, but prices less food and energy rose 0.3%. On a year-over-year basis, prices are up 1.0% overall, and 2.3% at the core.

Housing starts rose 5.2% to a 1.178 million annualized rate while permits dropped -3.1% to 1.167 million.

Industrial production fell -0.5% in February, as capacity utilization in the nation’s factories fell -4.0% to 76.7%.

The Federal Open Markets Committee left short-term interest rates unchanged, with a Fed Funds target rate of 0.25%-0.50%.

The Federal Open Markets Committee projected today that annual GDP growth will not exceed 2.3% for the foreseeable future.

The MBA reports that mortgage applications fell -3.3% last week, with purchases up 0.3% and refis down -6.0%.

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