The Consumer Price Index rose 0.1% in January. The "core" CPI, which excludes food and energy, also rose 0.1%. On a year-over-year basis, both the headline and core CPI rose 1.6%.
Initial jobless claims fell 3,000 to 336,000. The 4-week average rose 1,750 to 338,500, while continuing claims rose 37,000 to 2.981 million.
Markit Economics’ PMI Manufacturing Index Flash for February rose 3 points to 56.7.
The Bloomberg Consumer Comfort Index rose 0.1 points to -30.6 in the latest week.
The Philadelphia Fed Survey’s general conditions index was very negative, dropping to -6.3 in February from January’s 9.4.
The Conference Board’s index of leading indicators rose 0.3% in January.
The Fed’s balance sheet rose $29.8 billion last week, with total assets of $4.149 trillion. Reserve Bank credit increased $35.5 billion.
The Fed reports that M2 money supply rose by $41.3 billion in the latest week.
The MBA reports that mortgage applications fell -4.1% last week, with purchases down -6.0% and re-fis -3.0%.
In weekly retail sales, ICSC Goldman reports a 2.5% weekly sales increase, and a 2.1% year-on-year increase. Meanwhile, Redbook says sales rose 3.2% on a year-ago basis.
Thanks to the extreme cold, housing starts plunged -16% in January to a 0.88 million annual rate.
A completely revised method of reporting Producer prices was released today. The overall PPI for January rose 0.2%, which was 1.2% on a year-over-year basis. The core PPI, less food, energy & trade services, rose 0.1% for the month. There is no annual comparison for the latter method of calculating the core PPI rate. The PPI for goods rose 0.4% for the month, and 0.9% for the year. The PPI for trade services rose 0.1% for the month, and 1.3% for the year.
Export prices rose 0.2% in January, while import prices rose 0.1%. On a year-over-basis, export prices are down -1.2% and import prices down -1.5%.
The Fed reports that industrial production fell -0.3% in January, while capacity utilization in the nation’s factories declined -07% to 78.5%.
The University of Michigan’s Consumer Sentiment Index remained steady at 81.2 in February.
Initial jobless claims rose 8,000 to 339,000. The 4-week average rose 2,750 to 336,750, while continuing claims fell 18,000 to 2.953 million.
Retail sales in January fell a worse than expected -0.4%, following December’s -0.1% drop.
The Bloomberg Consumer Comfort Index rose 1.4 points to -30.7 in the latest week.
Business Inventories rose a troubling 0.5% in December, while a meager 0.1% sales increase raised the stock-to-sales ratio to 1.30.
The Fed’s balance sheet rose $10.2 billion last week, with total assets of $4.119 trillion. Reserve Bank credit increased $10.5 billion.
The Fed reports that M2 money supply rose by $14.9 billion in the latest week.
The Treasury announced that the deficit in January came in at $10.4 billion with the year-to-date deficit at $144 billion Last year at this time, the deficit was $290 billion.
The MBA reports that mortgage applications fell -2.0% last week, with purchases down 5.0% and re-fis down -0.2%.
The Atlanta Fed Business Inflation Expectations survey shows expectations of 2.0% inflation for the next year.
The NFIB Small Business Optimism Index rose slightly to 94.1 in January from the previous month’s 93.9.
ICSC Goldman reports a -0.3% weekly retail sales drop, and a 2.3% year-on-year increase. Meanwhile, Redbook says sales rose a slow 2.8% on a year-ago basis.
Wholesale inventories rose 0.3% in December, but a 0.5% sales increase left the stock-to-sales ratio unchanged at 1.17.
Consumer credit jumped $18.8 billion in December, including a big $5.0 billion increase in revolving credit.
The BLS reported a paltry 113,000 net new jobs were created in January. Yet the unemployment rate laughably fell a tick to 6.6%. Still, 638,000 people came back into the labor force, and the participation rate rose 0.2% to 63%. Average hourly earnings increased by 0.2%, while the average work week remained steady at 34.4 hours.
Chain stores sales are being reported today, and show significant weakness in January, with year-on-year sales rates sharply lower than December.
The Challenger Job-Cut Report shows a jump to 45,107 layoffs in January, versus December’s 30,623.
The Gallup US Payroll to Population rate declined to 42.0% in January from 42.9% in December.
The US trade deficit increased to $38.7 billion in December from $34.6 billion in November, mainly from a -1.8% decline in exports.
Initial jobless claims fell 20,000 to 331,000. The 4-week average rose 1,000 to 334,000, while continuing claims rose 15,000 to 2.964 million.
Non-farm productivity rose at a healthy 3.2% annualized rate, while unit labor costs declined -1.6% annualized.
The Bloomberg Consumer Comfort Index fell -1.3 points to -33.1 in the latest week.
The Fed’s balance sheet rose $7.1 billion last week, with total assets of $4.109 trillion. Reserve Bank credit increased $4.2 billion.
The Fed reports that M2 money supply rose by $25.5 billion in the latest week.