Today’s economic numbers show housing continue to explode upwards as the NAHB Housing Market Index beat even the most optimistic estimates. Manufacturing continues to expand, ever so slowly under the threat of lockdowns. Inflation is still subdued as economic activity remains constrained due to concerns over the Chinese coronavirus.
Markets are selling off this morning as some of the vaccine-related hype fades.
Court decisions over the next few days will give direction to the markets.
Retail Sales ex Autos (MoM) (Oct) printed at 0.2% vs 0.6% consensus estimate.
Import Price Index (MoM) (Oct) printed at -0.1% vs 0.2% estimate.
Import Price Index (YoY) (Oct) printed at -1%.
Export Price Index (MoM) (Oct) printed at 0.2% vs 0.3% estimate.
Export Price Index (YoY) (Oct) printed at -1.6%.
Retail Sales Control Group (Oct) printed at 0.1% vs 0.5% estimate.
Retail Sales (MoM) (Oct) printed at 0.3% vs 0.5% estimate.
Industrial Production (MoM) (Oct) printed at 1.1% vs 1.0% estimate.
Capacity Utilization (Oct) printed at 72.8% vs 72.3% estimate.
Business Inventories (Sep) printed at 0.7% vs 0.5% estimate.
NAHB Housing Market Index (Nov) printed at 90 vs 85 estimate.
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