Economic Statistics for 16 Feb 12
The following statistics were released today on the state of the US Economy:
Housing starts rose 1.5% to a 699,000 annual rate, following last month’s -1.9% drop. Housing permits declined to a 676,000 annual rate.
Initial claims for unemployment fell 13,000 last week to 348,000. The 4-week moving average fell to 365,250.
Producer prices rose 0.1% overall last month, but the core rate, which excludes food and energy, rose 0.4%.
The Bloomberg Consumer Comfort Index rose for the 4th straight week to reach the highest level in a year, which is…-39.8.
The Philadelphia Fed Survey’s General Business Conditions Index rose 3 points this month to 10.2.
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Dale Franks
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As the FT goes on to note, BofA will be able to use future mods made under HAMP towards the $7.6bn in borrower assistance it is committed to provide – which means, in a (as TARP inspector general Neil Barofsky describes) ‘scandalous’ turn of events the bank will receive payments for averting a borrower default and be reimbursed by the taxpayer for the principal write-down.