Economic Report Summary - Week ending 2/21/14

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By VectorVest

Consumer Prices grew by 1.6% on an annualized basis in January, compared with the previous month's annual rate of 1.5%. Meanwhile, Core CPI, which excludes food and energy, rose 1.6% annually in January. Producer Prices rose 1.2% year-over-year in January, while Core PPI grew 1.3%.

The Markit Flash Manufacturing PMI rose 3 points to a level of 56.7 in February, marking the fastest overall improvement since May 2010.

The NY Empire State Index dropped from 12.51 to a level of 4.48 in February.

The Philadelphia Fed Manufacturing Survey fell from 9.4 to a level of -6.3 in January.

Building permits dropped to 937,000 in January, failing to meet estimates at 980,000.

Housing starts fell to 880,000 in January, missing the median at 950,000. Existing home sales dropped by 5.1% in January, whereas analysts expected a slightly less of a decline of 4.3%. The NAHB Housing Market Index lost 10 points to come in at a level of 46 in February.

The Conference Board Leading Economic Index increased 0.3% in January, slightly lower than forecasts of 0.4% growth.

U.S. jobless claims decreased by 3,000 in the week ending February 15th to 336,000.

Crude inventories increased by 1.0 million barrels last week, while oil prices rose to $100.31.

We currently have a Case 4, Bull market scenario in which earnings, inflation and interest rates are rising.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Economy , Business , US Markets

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