Succinct Summations for the week ending October 21st, 2016
Positives:
1. Existing home sales rose 3.2% m/o/m to an SAAR of 5.470M.
2. Housing permits rose to an SAAR of 1.225M, above the 1.165M expected.
3. Philly Fed manufacturing report rose to 9.7, above the 7 expected reading.
4. CPI rose 0.3% m/o/m and 1.5% y/o/y.
5. Industrial production rose 0.1% m/o/m; last months reading was revised down 0.1%.
6. Manufacturing production rose 0.2% m/o/m.
Negatives:
1. Housing starts came in at an SAAR of 1.047M, below the 1.180M expected.
2. Jobless claims rose 13k to 260k.
3. Core CPI rose just 0.1% m/o/m.
4. Empire State manufacturing survey came in at -6.8, down and its third straight reading below zero.
