Economic Report Summary: Week Ending 3/8/14

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The Markit Services PMI Business Activity Index fell 3.4 points to 53.3 in February, marking the lowest level seen since October 2013.

The Markit Manufacturing PMI Index gained 3.4 points to 57.1 in February, marking the sharpest improvement since May 2010.

The ISM Manufacturing PMI rose from 51.3 to 53.2 in February, beating forecasts at 52.0, while ISM Prices Paid fell slightly by 0.5 points to 60.0.


The ISM Non-Manufacturing PMI fell from 54.0 to 51.6 in February, whereas consensus pointed to a fall to 53.5.

The ISM New York Index dropped 7.4 points to 57 in February, whereas forecasts pointed to a decline to 63.2.

Factory Orders slid 0.7% in January, compared to last month's decrease of 2.0%.

Construction Spending edged up by 0.1% in January, beating consensus which pointed to a 0.5% decrease.

Personal Income increased 0.3% in January, while Personal Spending rose 0.4%.

The IBD/TIPP Economic Optimism Index gained 0.2 points to 45.1 in March, failing to meet estimates at 45.6.

Nonfarm Productivity grew by 1.8% on an annual basis in the fourth quarter of 2013, while Unit Labor Costs dipped 0.1%. Nonfarm Payrolls grew by 175,000 in February, beating estimates at 149,000.

The Unemployment Rate rose from 6.6% to 6.7%. ADP reported that the U.S. Private Sector added 139,000 jobs in February, missing forecasts at 160,000. U.S. Jobless Claims decreased by 26,000 in the week ending March 1st to 323,000.

Crude Inventories increased by 1.4 million barrels last week, while oil prices rose to $102.88.

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: News Headlines , US Markets , Business , Economy

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