As the market deals with a much expected and healthy correction, the economic data keeps coming incrementally showing a growing economy under Trump administration policies. In short, personal income is growing, trade balance is shrinking, personal spending is increasing, and manufacturing is growing; consumers feel optimistic.
For the most part, the data is prior to the brunt of the coronavirus outbreak, which will most likely force a slowdown in certain sectors of the American economy.
Personal Consumption Expenditures – Price Index (YoY) (Jan) printed at the estimate of 1.7%.
Core Personal Consumption Expenditure – Price Index (MoM) (Jan) printed at 0.1% vs 0.2% consensus estimate.
Wholesale Inventories (Jan) PREL printed at -0.2% vs estimate of -0.6%.
Personal Income (MoM) (Jan) printed at 0.6% vs 0.3% estimate.
Goods Trade Balance (Jan) printed at -$65.5B vs estimate of -$68.7B.
Personal Consumption Expenditures – Price Index (MoM) (Jan) printed at estimate of 01.%.
Personal Spending (Jan) printed at -0.2% vs estimate of 0.3%.
Core Personal Consumption Expenditure – Price Index (YoY) (Jan) printed at 1.6% vs consensus of 1.7%.
Chicago Purchasing Manager’s Index (Feb) printed at 49 vs 45.9.
Michigan Consumer Sentiment Index (Feb) printed at 101 vs 100.9 estimate.
