Succinct Summations for the week ending February 19th, 2016
- Industrial production rose 0.9% m/o/m, well above the 0.4% expected rise. Vehicle production was a driving force, rising 2.8% m/o/m.
- Core inflation rose 0.3% in January, the biggest gain in more than four years. Headline CPI was flat m/o/m and rose 1.4% y/o/y.
- Jobless claims fell to 262k with the 4-week moving average falling to 273.25k.
- The MBA Mortgage Application Composite rose 8.2% w/o/w, with refinances rising 16%.
- The Bloomberg Consumer Comfort index is holding steady at 44.3.
- Housing starts fell 3.8% to an annualized rate of 1.099 million, below the 1.175 million expected.
- The Empire State Manufacturing Survey came in at -16.64 vs expectations of -10. This is the seventh straight month of contraction.
- The Housing Market Index fell to 58, down from 61. This is the lowest reading since May 2015.