By 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.
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