Succinct Summations for the week ending February 26th, 2016
- Real GDP rose 1%, a 0.3% increase from the original estimate.
- Personal income and consumer spending both rose 0.5% m/o/m.
- Durable goods rose 4.9% m/o/m (ex-transportation they rose 1.8%).
- Existing home sales rose 0.4% to a 5.47 million annualized rate, above the 5.32 million expected.
- Case-Shiller HPI rose 0.8% in December, and 5.7% y/o/y.
- Jobless claims rose 10k, but the 4 week average remains very low at 272k.
- Bloomberg’s consumer comfort index holds steady at 44.2.
- Consumer sentiment came in at 91.7, up from 91 previously.
- PMI services flash fell to 49.8, down from 53.7 previously and the worst reading since October 2013.
- Consumer confidence fell to 92.2, down from 97.8 previously and below the 97.2 expected.
- PMI Manufacturing Index Flash came in at 51, the lowest reading in three years.
- MBA mortgage composite index fell 4.3% w/o/w and refinances fell 8%.
- New home sales fell to an annualized 494k, below the 520k expected.