Category Archives: Daily

Feb. Residential Construction, March UI Claims and Philly Fed, Jan. JOLTS

Grab Bag of Data Consistent with Ongoing Economic Momentum Housing Starts increased in February by 3.0 percent to a 1,288,000 unit annual rate. Permits for new residential construction decreased by 6.2 percent to a 1,213,000 unit pace in February. Initial … Continue reading

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Federal Reserve Monetary Policy

Fed Raises Short-Term Interest Rates 25 Basis Points As Expected The Federal Reserve raised the target range of the fed funds rate by 25 basis points. The new Dot Plot remains consistent with three 25 basis point rate hikes in … Continue reading

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Feb. Consumer Prices, Retail Sales, Jan. Biz. Inventories, March NAHB and NY Fed

Nothing in Today’s Data Stops the Fed from Announcing a Rate Hike This Afternoon The February Consumer Price Index increased by 0.1 percent. Core CPI increased by 0.2 percent, and was up 2.2 percent over the previous 12 months. Retail … Continue reading

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February PPI, Small Business Confidence

Data Consistent with Fed Rate Hike Expectations for Tomorrow The Producer Price Index for Final Demand increased by 0.3 percent in February. Core Producer Prices also increased by 0.3 percent. The NFIB’s Small Business Optimism Index sustained its recent surge, … Continue reading

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February U.S. Employment

 Last Hurdle Cleared for March 15 Fed Rate Hike Payroll Employment increased by 235,000 jobs in February. The Unemployment Rate for February dipped to 4.7 percent. Average Hourly Earnings increased by 0.2 percent for the month, the average workweek was … Continue reading

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February ADP Jobs, Q4 Productivity

Strong Job Gains Reinforce High Odds of March 15 Rate Hike The February ADP Employment Report showed a strong gain of 298,000 private-sector jobs for the month. Productivity increased in 2016Q4 at a 1.3 percent annualized rate. The ADP National … Continue reading

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February ISM MF Index, Jan. Income, Construction Spending, Fedspeak

Likelihood of a March 15 Fed Rate Hike Climbing Quickly The ISM Manufacturing Index increased to 57.7 in February. U.S. Personal Income increased by 0.4 percent in January. The Personal Consumption Expenditure Price Index jumped by 0.4 percent in January. … Continue reading

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January Existing Home Sales, Fed Minutes

Sales Bounce Back After December Dip Existing Home Sales increased by 3.3 percent in January to a 5,690,000 unit annual rate. Fed minutes show concern about communication strategy. Existing home sales bounced back in January, gaining 3.3 percent, to a … Continue reading

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January Residential Construction, February UI Claims

Single-Family Rising, Multifamily Heading into Third Year Range-Bound Housing Starts dipped in January by 2.6 percent to a 1,246,000 unit annual rate. Permits for new residential construction increased by 4.6 percent to a 1,285,000 unit pace in January. Initial Claims … Continue reading

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January Retail Sales, Consumer Price Index, Industrial Production

 Consumers Undeterred by Higher Prices January Retail Sales increased by 0.4 percent, boosted by higher gasoline prices. Retail Sales Ex-Autos increased by 0.8 percent in January. The Consumer Price Index gained 0.6 percent in December, on higher energy prices. Industrial … Continue reading

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