January auto sales weakened by -1.2% to 16.7 million annual rate, following December’s -0.7% decline. Having said that, sales are still strong compared to a year ago, and the weakness is centered in foreign-made vehicles.
Gallup’s U.S. Economic Confidence Index rose from -5 to 3 in January, the first positive reading since 2008.
Redbook reports retail sales rose 3.8% on a year-ago basis, from last week’s 3.2%.
Factory orders are weak at the headline level, down -3.4% in December, and the fifth straight decline. Excluding defense goods and civilian aircraft, however, orders are actually up 0.1%.
Gallup’s self-reported daily consumer spending measure fell to $81 in January from $98 in December.
Personal Income rose by 0.3% in January, while personal spending fell by -0.3%. The PCE Price index, and inflation measure, fell by -0.2% at the headline level, while the core rate, excluding food and energy, was unchanged. On a year-over-year basis, personal income is up 4.6% while spending is up 3.6%. The PCE price index is 0.7% higher than a year ago, while the core PCE is up 1.3%.
The Markit PMI manufacturing index for January was unchanged at 53.9.
The ISM Manufacturing index fell -2.0 points in January to 53.5.
The J.P. Morgan Global Manufacturing PMI rose just 0.1 points in January to 51.7.
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.