In housing news, the MBA mortgage applications index for the week ended 3/16 fell 1.1%, below the prior-week’s 0.9% gain. Meanwhile, new home sales for the same month came in at 618,000, below both the prior-month’s upwardly revised 622,000 figure and consensus estimates of 620,000. Germany’s business climate index for March fell to 114.7 from 115.4 in the prior month. This is slightly higher than the 114.6 forecasted according to the Ifo Institute. Fear of trade conflict stemming from recent developments in U.S. trade policy is a heavy influence. The unemployment rate in Japan ticked up to a seasonally adjusted 3.70% in February, increasing marginally from the 3.68% rate reported in January. The 3.70% rate matched economists’ expectations.
In U.S. economic news, CPI for the month of February reported 0.2% growth, matching the consensus estimates, butbelow the prior month’s 0.5% growth. Revised February data for the Eurozone showed inflation growth eased to 1.1%, following January growth of 1.3%. Japan’s industrial production dropped an adjusted 6.8% month-over-month in January, faster than the 6.6% fall reported earlier and below the 2.9% increase seen in December.
In U.S. economic news, revised productivity for the fourth-quarter remained flat, moving slightly higher than the decline of 0.1% reported in the prior quarter, and was higher than economists’ estimates of a 0.1% reduction as well. Germany’s exports & imports declined sequentially in January, but continued to grow on a year-over-year basis. Exports decreased in January by 0.5%, missing analyst’s expactations of a 0.3% increase. Imports decreased by 0.5% in January, well below a December increase of 1.1% and a forecasted 0.2% decrease.China’s inflation increased to its highest point since November 2013, rising to 2.9% in February, higher than the 1.5% rise seen in January, also topping analysts’ forecasts of a 2.4% increase. Meanwhile, producer price inflation dropped to 3.7% in February from the 4.3% seen in January.
In U.S. economic news, international trade in goods for the month of January reported a $74.4 billion deficit, below the downwardly-revised $72.3 billion deficit in the prior month, and below consensus estimates of a $72.2 billion deficit. Spanish unemployment fell in February by 6,280, as compared to January. Unemployment has fallen by 280,628 since the same time last year, or by 7.48%. Currently, unemployment is at 3.47 million, its lowest mark in 9 years. Manufacturing in South Korea continued its expansion in the month of February recording score of 50.3, lower than the prior month’s reading of 50.7. Industrial output in South Korea grew a seasonally adjusted 1.0%, on month for January, following a 1.7% decline seen in December.
In U.S. economic news,the MBA mortgage applications index fell 6.6% for the week ended February 17, lower than the prior week fall of 4.1%. The United Kingdom saw GDP increase by just 0.4% sequentially, as opposed to initially reported estimates of 0.5%. Japan’s producer prices in January increased 0.7%, slightly missing analysts’ expectations of a 0.8% gain.
The U.S. MBA mortgage applications index rose 0.7% for the week ended February 3rd, higher than the dip of 2.6% in the prior week. Elsewhere, the industrial output of France grew by 0.5% sequentially in December, positively reversing the 0.3% fall seen in November. Finally, Malaysia’s unemployment rate remained constant at 3.3% in December, the same rate that was reported in November.
In U.S. economic news the Case-Shiller Home Price Index registered 6.4% growth for October, beating both September’s growth of 6.2% and consensus estimates of 6.3%. The Consumer Confidence Index showed a December reading of 122.1, below both November’s downwardly revised figure of 128.6 and analysts’ estimates of 128.0.
In U.S. economic news, personal income for November was reported as an increase of 0.3%, just below prior-month and consensus estimates of a 0.4% gain. Personal spending in the same month increased by 0.6% above the downwardly-revised October growth of 0.2% and consensus estimates of 0.4% jump.
In U.S. economic news, CPI for the month of November was reported as a 0.4% growth, higher than the 0.1% gain seen in the prior month and matching economists’ estimates. November’s core CPI dipped slightly to a 0.1% rise, coming in slightly less than the prior month’s reading and economists’ estimates of a 0.2% jump.
In U.S. economic news, the second estimate of GDP in the third quarter was a growth of 3.3%, up from the prior-quarter’s figure of 3.0% and just above consensus estimates of 3.2%. Germany’s unemployment declined to 18,000 in November from October as the jobless rate held steady at 50.6%. Manufacturing growth in India expanded as PMI was released as 52.6 in November, gaining from the 50.3 reported in October.