When I Was Away
I was away from the computer and away from the markets, so let me recap most important developments.
- MBA purchase applications were up 0.8% vs. 3.6% the week before.
- Retail sales in December disappointed coming out at -0.3% vs. 0.4% consensus and 1.3% in November.
- Initial jobless claims edged up reaching 444.000 vs. 437.000 consensus and 434.000 the week before.
- Business inventories rose 0.4% in November vs. o.2% consensus and 0.2% in October.
- CPI for December came right at the consensus of 0.1% vs. 0.4% in November.
- Industrial production for December also right at the consensus of 0.6% vs. 0.8% in November.
- Capacity utilization rate was at 72% in December vs. 71.9 % consensus and 71.3 % in November.
- Consumer confidence for January was at 72.8 vs. 74.0 consensus and 72.5 in December.
All in all stagnation all over data; deflation a serious possibility; U.S. economy still losing job; Consumer confidence pointing to possible further weakness.
Business Inventories, Consumer Confidence, Industrial Production, Initial Jobless Claims, MBA Purchase Applications, Retail Sales, U.S. Capacity Utilization Rate, U.S. Consumer Price Index
