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Economic Statistics for 15 Jan 14

The MBA reports that mortgage applications surged 11.9% last week, with purchases up 12.0% and refinancings up 11.0%.

Producer prices rose 0.4% in December, with the core PPI up 0.3%. On a year-over year basis, the PPI is up 1.2%, and the core rate is up 1.4%.

The Empire State manufacturing index jumped to 12.51 in January, with widespread improvements in NY business conditions.

The Atlanta Fed’s Business Inflation Expectations survey stayed steady at 1.9%.

The latest Beige Book stated that the economy expanded at a "moderate pace," in 9 of the 12 Fed Districts.

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