Succinct Summation of Week’s Events 2.19.16

February 19, 2016 4:00pm by

Succinct Summations for the week ending February 19th, 2016

Positives:

  1. 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.
  2. 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.
  3. Jobless claims fell to 262k with the 4-week moving average falling to 273.25k.
  4. The MBA Mortgage Application Composite rose 8.2% w/o/w, with refinances rising 16%.
  5. The Bloomberg Consumer Comfort index is holding steady at 44.3.

Negatives:

  1. Housing starts fell 3.8% to an annualized rate of 1.099 million, below the 1.175 million expected.
  2. The Empire State Manufacturing Survey came in at -16.64 vs expectations of -10. This is the seventh straight month of contraction.
  3. The Housing Market Index fell to 58, down from 61. This is the lowest reading since May 2015.

 

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