The MBA reports that mortgage applications fell -3.2% last week, with purchases down -0.1% and refis down -5.0%.
The Federal Open Markets Committee left US monetary policy unchanged at this meeting, with the Fed Funds target rate remaining at 0% to 0.5%.
Durable goods orders continue to fall, down -3.4% overall in December following November’s -2.1%. Excluding transportation, orders fell -0.8%. On a year-over-year basis, orders are up only 0.3%, though non-transportation orders are up 3.8%.
Redbook reports retail sales continue to weaken, rising just 3.2% on a year-ago basis, the weakest reading since July.
The S&P/Case-Shiller home price index rose 0.7% in November, and is up 4.3% on year-over-year basis.
The Markit PMI services flash for January is up 0.4points to 54.0.
New home sales surged by a better-than-expected 11.6% in December to a 481,000 annual rate, while the median price rose 2.2% to $298,100.
The Conference Board’s consumer confidence index for January rose a sharp 10.3 points to 102.9.
The Richmond Fed manufacturing index slipped -1 point in January to 6.
The State Street Investor Confidence Index fell from 112.1 to 106.7 in January, almost entirely on confidence slipping back in Europe. That said, the European index still remains quite high at 113.9.
Initial weekly jobless claims fell 10,000 to 307,000. The 4-week average rose 6,500 to 306,500. Continuing claims rose 15,000 to 2.443 million.
The FHFA House Price Index rose 0.8% in November, following October’s 0.6% increase.
The Bloomberg Consumer Comfort Index fell -0.7 points to 44.7 in the latest week.
The Kansas City Fed Manufacturing Index fell -5 points to 3 in January.
The Fed’s balance sheet fell $-3.141 billion last week, with total assets of 4.513 trillion. Reserve bank credit rose $5.4 billion.
The Fed reports that M2 money supply rose by $67.5 billion in the latest week.
The MBA reports that mortgage applications rose% last week, with purchases down -3.0%, but refis up 22.0%.
Housing starts rose by 4.4% in December to an annual rate of 1.089 million, but building permits fell -1.9% to 1.032 million annualized.
Redbook reports retail sales rose 3.0% on a year-ago basis, down from last week’s 3.8%, as sales continue to decline in January.
Net foreign demand for long-term US securities rose $33.5 billion in November, versus $-1.4 billion in October.
The December Consumer Price Index fell -0.4%, mainly on declines in energy prices, with prices less food and energy unchanged. On a year-over-year basis, the CPI is up 0.7% overall, and 1.6% at the core.
The Fed reports that December industrial production fell by -0.1%, while capacity utilization in the nation’s factories fell from 80.1% to 79.7%.
The University of Michigan’s consumer sentiment index rose 4.6 points to 98.2, the highest level since January 2004.
Initial weekly jobless claims rose 19,000 to 316,000. The 4-week average rose 6,750 to 298,000. Continuing claims fell 51,000 to 2.424 million.
Producer Prices for Final Demand fell -0.3% in December. Prices less food and energy rose 0.3%, while prices less food, energy, and trade services rose 0.1%. Prices for goods declined -1.2% while prices for services rose 0.2%. On a year-over-year basis, PPI-FD is up 1.1% overall, while prices less food and energy rose 2.1%, and prices less food, energy, and trade services rose 1.4%. Prices for goods fell 1.2% from last year, while prices for services rose 2.2%.
The Empire State manufacturing index rose from December’s contractionary reading of -3.58 to an expansionary 9.95 in January.
The Bloomberg Consumer Comfort Index rose 1.8 points to 45.4 in the latest week, the highest reading since mid-2007.
The general business conditions index of the Philadelphia Fed’s Business Outlook Survey fell sharply in January, from 24.5 to 6.3.
The Fed’s balance sheet rose $16.6 billion last week, with total assets of 4.516 trillion. Reserve bank credit rose $3.2 billion.
The Fed reports that M2 money supply rose by $39.9 billion in the latest week.
The MBA reports that falling rates led to an explosion of mortgage applications, up 49.1% last week, with purchases up 24.0% and refis 66.0%.
Retail sales fell a disappointing -0.9% in December. Sales less autos fell -1.0%, while sales less autos and gas fell -0.3%.
Declining oil prices sent export prices down -1.2% in December, while import prices plunged -3.2%. On a year-over-year basis, Export prices are down -2.5% while import prices are down -5.5%.
The Atlanta Fed’s Business Inflation Expectations survey shows inflation expectations of 1.7% in January, down from December’s 1.9%.
Business inventories rose 0.2% in November, while a -0.2% drop in sales left the stock-to-sales ratio at a moderate 1.31.
The Fed’s latest Beige Book says that economic activity continues to expand at a “modest” or “moderate” rate.
Redbook reports that retail sales continue to slow, rising 3.8% on a year-ago basis, from last week’s 4.3%.
The NFIB Small Business Optimism Index rose from 98.1 to 100.4 in December, the highest level since October 2006.
The Labor Department’s JOLTS report shows 4.972 million job openings on the last business day of November.
The U.S. Treasury monthly budget report for December shows a $1.9 billion surplus for the month, as receipts rose 11%.