- Total Industrial production increased 0.9% in January, following a 0.7% decrease in the previous month. The index, which stands at 106.8 (2012=100), was down 0.7% from January 2015. The rate of capacity utilization for total industry was 77.1%, a level 2.9 percentage points below its 1972-2015 average, and 1.6 percentage points below its level in January 2015.
- Housing starts in January were down 3.8% from December, but were up 1.8% from January 2015. Building permits in January were down 0.2% from December, but were up 13.5% from January 2015.
- The housing market index of National Association of Home Builders (NAHB) and Wells Fargo decreased 3 points to 58 in February. The index was 55 in February of 2015.
- The results of Freddie Mac’s Primary Mortgage Market Survey for the week ending February 18th showed average fixed mortgage rates unchanged from the previous week, and remaining near their 2015 lows. 30-year fixed-rate mortgage averaged 3.65%, unchanged from last week. A year ago at this time, the 30-year fixed rate averaged 3.76%.
- Mortgage applications increased 8.2% from a week earlier week, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending February 12.
- The producer price index for final demand (headline index) increased 0.1% in January, following a 0.2% decrease in the previous month. The index for final demand less foods, energy, and trade increased 0.2% in January, the same increase as in the previous month. The producer price index for final demand was down 0.2% from January 2015 to January 2016, while the index for final demand less foods, energy, and trade was up 0.8%.
- The consumer price index (headline index) was unchanged in January, following a 0.1% decrease in the previous month. The core index increased 0.3%, following an increase of 0.2% in the previous month. The consumer price index increased 1.4% for the 12-month period ending in January, while the core index rose 2.2%.
- Real average hourly earnings for all employees increased 0.4% from December to January. This result stems from a 0.5% increase in average hourly earnings combined with no change in the consumer price index for all urban consumers.
- The advance figure for initial claims for unemployment insurance decreased 7 thousand to 262 thousand in the week ending February 13. The 4-week moving average was 273.25 thousand, a decrease of 8 thousand from the previous week’s average.
- The February Empire State Manufacturing Survey indicated that business activity continued to decline for New York manufacturers.
- The Philadelphia FED manufacturing business outlook survey for February reported continued weakness in business conditions.
- The Conference Board index of leading economic indicators decreased 0.2% January, following a 0.3% decrease in the previous month. Over the six-month span through January, the leading index increased 0.3% (annual rate of 0.6%), with five out of ten components advancing. The coincident index increased 0.3%, following a 0.1% increase as in the previous month. During the six-month period through January, the coincident index increased 1.0% (annual rate of 2.0%), with three out of four components advancing.
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