Economy in Brief

Despite record cold temperatures, starts of single-family homes inched up 0.8% last month to 613,000 (20.0% y/y), the highest level since July 2008. Total housing starts of 890,000 in January, however, were off 8.5% (+23.6% y/y) due [...]

The producer price index for finished goods gained 0.2% last month (1.4% y/y) after a revised 0.3% December fall. Expectations had been for a 0.4% increase. (Data back to 2008 were revised due to updated seasonal factors.) Prices [...]

The Zew expectations reading jumped in February to 48.2 from 31.5. This near-neutral reading (a reading of 50 would balance positive with negative expectations) stands in the 36th percentile of its historic queue of net readings; it [...]

The Composite Housing Market Index from the National Association of Home Builders-Wells Fargo dipped to 46 this month following two months at 47. Expectations were for a slight increase. Nevertheless, the index level remained up by [...]

Trade balance in the European monetary union widened to 11.9 billion euro from 10.5 billion euro in December. Exports from the Zone fell by 1.9%; the drop is exceeded by a 2.9% drop in imports. The resulting weaker import performance [...]

The University of Michigan's Index of Consumer Sentiment in mid-February rose to 76.3 (1.3% y/y) from 73.8 in January. The figure remained down versus the November high of 82.7 and compared to consensus expectations for 71.5. During [...]

Industrial production slipped 0.1% last month following a 0.4% December rise, initially reported as 0.3%. (Data back through 2011 were revised.) A 0.2% gain had been expected in the Action Economics survey. Colder than normal [...]

The Empire State Factory Index of General Business Conditions moved back into positive territory in February following six consecutive months in the red. The increase to 10.04 compared to an unrevised -7.78 in January and beat [...]