Credit: Shutterstock photoBy Angel Clark for VectorVest
Here is this week's economic report summary from VectorVest.
- Consumer Prices grew by 1.5% on an annualized basis in December 2013, compared with the previous month's annual rate of 1.2%.
- Core CPI, which excludes food and energy, rose 1.7% annually in December 2013.
- Producer Prices rose 0.4% year-over-year in December 2013, while Core PPI grew 1.4%.
- The Import Price Index remained unchanged on a monthly basis in December 2013, coming in lower than the expected 0.3% increase, while the Export Price Index advanced 0.4% month-over-month, higher than the forecasted 0.1% rise.
- The NY Empire State Index shot up by 10.29 points to a level of 12.51 in January, its highest level since May 2012 and far surpassing estimates of 3.75.
- The Philadelphia Fed Manufacturing Survey gained 2.4 points to a level of 9.4 in December 2013, beatings forecasts of 8.6.
- Industrial Production improved by 0.3% in December 2013, while Capacity utilization moved up slightly to 79.2%.
- Business Inventories grew by 0.4% in November 2013, following the 0.8% increase recorded in the previous month.
- Retail Sales advanced 0.2% in December 2013, slightly higher than the expected 0.1% gain.
- Housing Starts fell 9.8% to a seasonally adjusted annual rate of 999,000 in December 2013, while Building Permits dropped 3% to an annual rate of 986,000.
- The NAHB Housing Market Index fell by 1 point to a level of 56 in January, whereas initial forecasts pointed to a rise to 58.
- The Reuters/Michigan Consumer Sentiment Index fell 2.1 points to a level of 80.4 in January, failing to meet the consensus of a rise to 83.5.
- The NFIB Business Optimism Index came in at 93.9 in December 2013, higher than the preceding month's reading of 92.5.
- U.S. Jobless Claims decreased by 2,000 in the week ending January 11th to 326,000.
- Crude Inventories decreased by 7.7 million barrels last week, while oil prices dropped to $92.39.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
