Initial jobless claims rose 5,000 to 320,000. The 4-week average fell 3,500 to 327,000. Continuing claims rose 41,000 to 2.889 million.
The Bloomberg Consumer Comfort Index fell -1.4 points to -29.0 in the latest week.
The general business conditions index of the Philadelphia Fed’s Business Outlook Survey rose from -6.3 to 9.0 in March.
Existing home sales fell -0.4% in February to a 4.6 million annual rate. On a year-over-year basis, sales are down -7.1%.
The Conference Board’s index of leading indicators rose a solid 0.5% in February.
The Fed’s balance sheet rose $40.7 billion last week, with total assets of $4.222 trillion. Reserve Bank credit increased $39.1 billion.
The Fed reports that M2 money supply rose by $23.7 billion in the latest week.
The MBA reports that mortgage applications fell -1.2% last week, with purchases and re-fis both down -1.0%.
Strong exports narrowed the nation’s current account deficit to $81.1 billion in the 4th quarter of 2013, down from a revised $96.4 billion in the 3rd quarter.
The Federal Open markets Committee announced that interest rate policy will remain unchanged, with the Federal Funds Rate target at 0% to 0.25%. The FOMC released their projections for US GDP Growth: 2014: 2.8 to 3.0 %; 2015: 3.0 to 3.2 %; 2016: 2.5 to 3.0 %; longer run: 2.2 to 2.2 %.
In weekly retail sales, Redbook reports a soft 2.8% increase from the previous year. ICSC-Goldman reports a weekly sales increase of 0.7%, and a 1.5% increase on a year-over-year basis.
Consumer Prices rose 0.1% in February at both the headline and core level. On a year-over-year basis, consumer prices are up 1.1% overall and 1.6% less food and energy.
February housing starts dropped 0.2% to a 0.907 million annual rate, but building permits rose 7.7% to a 1.018 million annual rate.
The Treasury Department reports that net inflow of long-term securities totaled $7.3 billion in January vice a revised $-49.5 billion in December.
The National Association of Home Builders’ Housing Market Index rose 1 point to a lower-than-expected 47 in March.
The New York Fed’s Empire State Manufacturing Survey rose to to 5.61 in March from 4.48 in February.
The Fed reports that Industrial Production rose an unexpectedly strong 0.6% in March. Capacity Utilization in the nation’s factories rose 0.3% to 78.8%.
Producer prices fell -0.1% in February. Less food and energy, prices fell -0.2%. Less food, energy & trade services, prices rose 0.1%. Prices for goods increased 0.4%, while service prices fell -0.3%.
The Reuter’s/University of Michigan’s consumer sentiment index fell from 81.6 to 79.9 in March.
The Bloomberg Consumer Comfort Index rose 0.9 points to -27.6 in the latest week, the highest since last August.
Initial jobless claims fell 9,000 to 315,000. The 4-week average fell 6,000 to 330,500. Continuing claims fell 48,000 to 2.855 million.
The Fed’s balance sheet rose $9.6 billion last week, with total assets of $4.181 trillion. Reserve Bank credit increased $11.2 billion.
The Fed reports that M2 money supply fell by $-13.9 billion in the latest week.
February retail sales rose 0.3% in February across the board, overall, less gas, and less gas and autos.
February export prices rose 0.6%, while import prices rose 0.9%. On a year-over-year basis, export prices fell 01.3%, while import prices fell -1.1%.
Business Inventories rose 0.4% in January, while a steep -0.6% drop in sales pushed the stock-to-sales ratio up to a troubling 1.32.
The MBA reports that mortgage applications fell -2.1% last week, with purchases down -1.0% and re-fis down -3.0%.
The Census Bureau’s quarterly services survey reports that information revenue rose 1.9% in the fourth quarter. That’s up 5.3% from the previous year.
Wholesale inventories rose 0.6% in January, while sales plunged -1.9%. That drove the sector’s stock-to-sales ratio up to a hefty 1.20.
The NFIB Small Business Optimism Index fell 3 points to 91.4 in February.
In weekly retail sales, ICSC Goldman reports a 1.3% weekly sales increase, and a 2.1% year-on-year increase. Meanwhile, Redbook says sales rose a weak 2.5% on a year-ago basis.
The Labor Department reports that 175,000 net new jobs were created in February. The unemployment rate rose a tick to 6.7%. Average hourly earnings rose 0.4%, while the average work week fell from 34.4 to 34.2 hours. The labor force participation rate held steady at 63.0%. The real unemployment rate, using the historical average rate of labor force participation, rose slightly, from 11.14% to 11.19%.
The nation’s trade deficit was $-39.1 billion in January.
January consumer credit rose by $13.7 billion, though this hides a decline of $0.2 billion in revolving credit.
Those chain stores that still report monthly sales generally reported improved year-on-year sales results in February.
The Challenger Job-Cut Report fell to 41,835 layoffs in February from 45,107 in January and 55,356 a year ago.
Gallup’s U.S. Payroll to Population employment rate was 43.1% in February up from 42.0% in January.
Initial jobless claims fell 26,000 to 323,000. The 4-week average fell 1,750 to 336,500, while continuing claims fell 8,000 to 2.907 million.
Productivity in the 4th quarter of 2013 rose a revised1.8%, more than half a percent below expectations.Unit labor costs fell an annualized -0.1%.
The Bloomberg Consumer Comfort Index rose 0.1 points to -28.5 in the latest week, a seven-month high.
Factory orders declined by -0.7% in February, following a January drop that was revised downwards to -2.0%.
The Fed’s balance sheet rose $11.8 billion last week, with total assets of $4.172 trillion. Reserve Bank credit increased $6.2 billion.
The Fed reports that M2 money supply fell by $-8.1 billion in the latest week.