Succinct Summations for the week ending January 27th, 2017.
- PMI manufacturing rose from 54.2 to 55.1, the strongest reading since March 2015.
- Jobless claims rose slightly to 245.5k, the 4-week moving average fell to 245.5k.
- Seasonally adjusted purchase applications for mortgages rose 6% to the highest level since June
- FHFA house price index rose 0.5% in November and 6.1% y/o/y.
- PMI services flash rose to 55.1, the strongest rate of growth since November 2015.
- Consumer sentiment rose from an already high 98.1 to 98.5.
- We finish the first week of the Trump Presidency with no adverse consequences…
- Existing home sales fell 2.8% in December to a SAAR 5.490mm.
- Real GDP rose 1.9% in the most recent quarter, below the 2.2% expected rise.
- Durable goods fell 0.4% m/o/m, well below the 2.6% expected increase.
- New home sales plunged 10.4% in December
- President Trump tries to start a Trade War with Mexico!