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.
The MBA reports that mortgage applications rose o.4% last week, with purchases down -4.0% but re-fis up 30%.
The ADP Employment report estimates that private payrolls will rise by 175,000 in January.
Gallup’s Job Creation Index was unchanged in January at 19.
The ISM Non-Manufacturing Index rose 1 point in January to 54.0.
A plunge in aircraft orders sent December factory orders down -1.5%, but ex-transportation orders actually rose 0.2%.
Gallup’s Economic Confidence Index rose to -16 for January, up from -19 in December.
In weekly retail sales, ICSC Goldman reports a 0.3% weekly sales increase, but only a 0% year-on-year increase. Meanwhile, Redbook says sales rose a weak 2.7% on a year-ago basis.
Motor vehicle sales fell 3.1% overall in January, with just over a million vehicles sold, and only Chrysler and Nissan showing gains. GM: -12%, Ford -7%, Toyota: -7.2%, VW: -19%, Honda: -2.1% Fiat Chrysler: 8%, Nissan: 11.8%.
The Gallup US Consumer Spending Measure fell to $78 of daily spending in January, versus $96 in December.
Markit’s PMI Manufacturing Index fell -1.3 points to 53.7 in January.
The ISM manufacturing composite index is down sharply, by -5.7 points to 51.3 in January.
December Construction Spending rose a slight 0.1% in December, a 5.3% gain from the previous year.
Today’s downbeat economic numbers were no help to US stock markets, already under pressure from overnight slumps in world markets. The Dow Industrials ended the day down -326.05 to 15,372.80.
Durable goods orders plummeted by a worse than expected -4.3% in December, and, ex-transportation orders fell 1.6%.
The S&P/Case-Shiller home price index rose 0.9% in November. On a year-over-year basis, prices are up 13.7%.
The Conference Board’s Consumer confidence index rose 3.2 points to a higher-than-expected 80.7 in January.
The Richmond Fed Manufacturing Index lost only a single point, to hold steady at 12 in January.
The State Street Investor Confidence Index jumped sharply from 95.9 to 114.4 in January.
ICSC-Goldman reports weekly retail sales rose only 0.2% last week, and only 2.2% from the prior year. Redbook reports a 3.2% year-over-year increase.