Weekly Economic Update: February 17-21, 2014

Feb 24 2014

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Housing starts fell 16.0% in January to an annual rate of 880,000 units. Building permits fell 5.4% in January to an annual rate of 937,000 units. The consumer price index increased 0.1% in January while core CPI also increased 0.1%. The producer price index increased 0.2% in January while core PPI increased 0.1%. Existing home sales fell 5.1% in January to an annual rate of 4.620 million units. Initial jobless claims fell 3,000 to 336,000 for the week ended 2/15.

• Housing starts fell 16.0% in January to an annual rate of 880,000 units. Extreme cold was a factor in the decline.

• Building permits fell 5.4% in January to an annual rate of 937,000 units.

• The consumer price index increased 0.1% in January while core CPI also increased 0.1%.

• The producer price index increased 0.2% in January while core PPI increased 0.1%. The producer prices report methodology has changed and now includes services and construction, and the focus is on final demand for the headline, followed by intermediate demand. Core PPI is now less food, energy, and trade services.

• Existing home sales fell 5.1% in January to an annual rate of 4.620 million units. The year-over-year rate is also down 5.1%, while the $188,900 median price is down 4.5% in January and up 10.7% year-over-year.

• Initial jobless claims fell 3,000 to 336,000 for the week ended February 15th.

 

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