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.
New home sales nose dived in December, to a much worse than expected 414,000 annual rate, while the median price rose 0.6% to $270,200.
The Dallas Fed Manufacturing Survey’s business activity index rose from 3.1 to 3.8 in January. The Production Index was unchanged at 7.1.
Initial jobless claims were unchanged at 326,000. The 4-week average fell 3,500 to 331,500. Continuing claims rose 34,000 to 3.056 million.
Sales of existing homes rose 1.0% in December to a lower-than-expected 4.87 million annual rate.
The Markit PMI manufacturing index flash reading for January dropped –0.7 points to 53.7.
The Chicago Fed National Activity Index fell to 0.16 in December from a revised 0.69.
The FHFA House Price Index rose 0.1% in November, a 7.6% increase from a year ago.
The Bloomberg Consumer Comfort Index was unchanged at -31 in the latest week.
The Conference Board’s index of leading indicators rose 0.1% in December, after a strong 1.0% increase in November.
The Kansas City Fed Manufacturing Index rose from -3 to 5 in January.
The Fed’s balance sheet rose $26.4 billion last week, with total assets of $4.098 trillion. Reserve Bank credit increased $37.7 billion.
The Fed reports that M2 money supply rose by $26.0 billion in the latest week.
Today gives us the first statistics of a very sparse week in the economic calendar.
The MBA reports that mortgage applications rose 4.7% last week, with purchases down -4.0% but refinancings up 10.0%.
In weekly retail sales, Redbook reports a 3.1% increase from the previous year. ICSC-Goldman reports a weekly sales drop of -1.9%, and only a 0.9% increase on a year-over-year basis.
December housing starts fell -8.9% to a 0.999 million annual rate.
The Fed reports that industrial production rose 0.3%, while capacity utilization in the nation’s factories rose 0.2% to 79.2%.
The Reuter’s/University of Michigan’s consumer sentiment index fell -2.1 points to 80.4.
Weekly jobless claims fell 2,000 to 326,000. The 4-week average fell 14,000 to 335,000. Continuing claims rose 174,000 to 3.030 million.
Consumer prices rose 0.3% in December, with the core CPI up 0.1%. On a year-over year basis, the CPI is up 1.5%, and the core rate is up 1.7%.
Foreign holdings in long-term US securities fell by $-29.3 billion in November.
The Bloomberg Consumer Comfort Index fell -2.7 points to -31.0.
The general business conditions index of the Philadelphia Fed’s Business Outlook Survey for December rose 2.4 points to 9.4.
The Housing Market Index for January fell 2 points to 56.
The Fed’s balance sheet rose $43.3 billion last week, with total assets of $4.072 trillion. Reserve Bank credit increased $24.7 billion.
The Fed reports that M2 Money Supply increased by $24.8 billion last week.
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.
The NFIB Small Business Optimism Index jumped 1.4 points in December to 93.9.
December retail sales rose 0.2%, with sales less autos up 0.7%, and less autos and gas up 0.6%.
In weekly retail sales, Redbook reports a 2.9% increase from the previous year. ICSC-Goldman reports a weekly sales decrease of -0.1%, and a 1.3% increase on a year-over-year basis.
Export prices rose 0.4% in December, while import prices were unchanged. On a year-over-year basis, export prices
Business Inventories rose 0.4% in November. A 0.8% sales increase left the stock-to-sales ratio unchanged at 1.29.