The Economy

February 2nd, 2015

Last week the negative economic news exceeded the positive. Here are the positive news releases:

  1. Weekly jobless claims fell 43,000 to 265,000, the lowest since 2000!
  2. Personal consumption came in at 4.3% vs 4% expected.
  3. Chicago Purchasing Managers Index came in at 59.4 vs the 57.5 expected.
  4. University of Michigan consumer confidence came in at 98.1, a hair below expectations but still strong and up from 93.6 in December.

Here are the Negatives:

  1. US Q4 real Gross Domestic Product came in at 2.6% annualized vs 3% expected.
  2. Durable goods fell 3.4% month over month, below expectations and down from the 2.1% decline in November.
  3. Yields keep falling around here and around the globe; 30 year hits lowest yields ever.
  4. Dallas fed manufacturing index came in at -4.4 vs 3 expected.
  5. Germany, Europe’s largest economy fell 0.3% month over month, the first negative print since 2009.
  6. Pending home sales fell 3.7% month over month.

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