Economic Report Summary - Week ending 2/7/14

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The trade deficit widened from $34.56 billion to $38.70 billion in December 2013.

The Market Services PMI rose 1.0 point to a level of 56.7 in January. The Market Manufacturing PMI fell to a three-month low in January, registering at a level of 53.7. The ISM Manufacturing PMI fell 5.7 points to a level of 51.3 in January, missing forecasts of modest dip to 56.0.

The ISM Non-Manufacturing PMI gained 1.0 point to a level of 54.0 in January, slightly higher than the expected 53.7. The ISM New York Index increased 0.6 points to 64.4 in January.

Factory orders fell 1.5% in December 2013, compared to the previous month's 1.5% rise.

Construction spending advanced 0.1% in December 2013, slightly lower than estimates at 0.2% growth.

The IBD/TIPP Economic Optimism dropped 0.3 points to a level of 44.9 in February.

ADP reported that the private sector added 175,000 jobs in January, failing to meet consensus at 180,000. Nonfarm Payrolls grew by 169,000 in January, failing to meet consensus at 185,000. The Unemployment Rate fell to 6.6% in January, slightly lower than the 6.7% recorded in the previous month. U.S. Jobless Claims decreased by 20,000 in the week ending February 1st to 331,000.

Crude Inventories increased by 0.4 million barrels last week, while oil prices rose to $97.55.



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 , Earnings

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