Succinct Summations of Week’s Events 12/16/16

Succinct Summations for the week ending December 16th, 2016


1. Federal Reserve (finally) raised rates by 25 basis points.
2. Jobless claims fell from 258k previously to 254k.
3. PPI rose 0.4% m/o/m and 1.3% y/o/y.
4. Inflation remains subdued, with CPI and the core rising just 0.2% m/o/m.
5. Philadelphia Fed business outlook survey accelerated from 7.6 previously to 21. 5, well above the 10 expected; Empire state manufacturing survey rose from 1.5 to 9, well above the expected reading of 3.
6. PMI manufacturing flash came in at 54.2, up from 53.9 previously.
7. Import prices fell 0.3% m/o/m; ex-petroleum they were flat


1. FOMC warned 3 more rate increases coming in 2017
2. November housing starts fell 18.7% in November to a 1.090M annualized rate, lower than 1.23M expected.
3. Retail sales rose just 0.1%m/o/m, autos fell 0.5%, the sharpest drop since March.
4. Mortgage applications fell 4% w/o/w.
5. Industrial production fell 0.4% m/o/m, manufacturing fell 0.1%.

Thanks, Mike!

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