Succinct Summations for the week ending March 19th, 2021
1. All signs point to a robust economic recovery as $2T Covid Rescue plan makes its way into Americans’ pockets.
2. More than 420 million doses have been administered worldwide, including > 118 million doses of Covid-19 vaccine in the USA, >20% of US population.
3. Leading economic indicators index rose 0.2% m/o/m, meeting expectations.
4. Import prices rose 1.3% m/o/m, above expectations.
5. Export prices rose 1.6% m/o/m, above expectations.
6. Empire State Mfg Index is at 17.4 for March, above expectations.
1. Vaccine hesitancy is putting economic & health recoveries at risk.
2. Jobless claims rose 45k w/o/w from 725k to 770k.
3. Housing market index is at 82 for March, below expectations.
4. Home mortgage apps rose 2.0% w/o/w, below previous increase.
5. Retail sales fell 3.0% m/o/m, below the previous increase.
6. Industrial production fell 2.2% m/o/m, below the expected increase of 0.5%.
Energy & Finance Trouncing 2020’s Big Winners Technology & Healthcare