Economic Statistics for 15 Feb 12
The following statistics were released today on the state of the US Economy:
The Mortgage Bankers’ Association reports that mortgage purchase applications fell -8.4%, while refinance apps rose just 0.8% last week. This brings the composite to a -1.0% drop.
The Empire State Manufacturing Survey’s General Business Conditions Index rose sharply to 19.53, the best reading in 18 months.
The Treasury reports that net demand for US securities was $17.9 billion in December, on $21.0 billion of sales, offset by $38.9 billion in sales of foreign securities from US accounts. Foreign buying of US long-term securities was weak, and foreigners were net sellers of US equities for the third month in a row.
The Fed reports industrial production was unchanged last month. Capacity utilization dropped to 78.5% from 78.6% in December.
The Housing Market Index rose sharply to 29 from last month’s 25. This is the 5th straight increase, and the second straight 4-point rise. One notes, however, that these increases have not yet shown up in the hard housing data.
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Dale Franks
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“The Housing Market Index rose sharply to 29 from last month’s 25. This is the 5th straight increase, and the second straight 4-point rise. One notes, however, that these increases have not yet shown up in the hard housing data.”
Yep, and I bet the truth will show up a month or so from now, quietly, while some other fabricated good numbers in some other area hide that there was a decline in hard housing numbers.
They’re actively in reverse of what they did during the Bush years, when they were constantly telling us how bad things were. Now we’re hearing they’re getting better! They’re getting better!
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