In a possible preview of a coming Trump economic miracle, and one day after POTUS signed the 'phase one' trade deal with China, and the Senate passed the USMCA, the Philly manufacturing survey just exploded. It looks like President Trump might be winning more than everyone thought.
Philadelphia Fed Manufacturing Survey (Jan) printed at 17 vs consensus estimate of 3.8. This is spectacular number and completely unexpected. Is it an outlier or a harbinger of things to come?
Retail Sales ex Auto (MoM) (Dec) printed at 0.7% vs 0.5% estimate.
Import Price Index (MoM) (Dec) printed at estimate of 0.3%.
Import Price Index (YoY) (Dec) printed at 0.5% vs -1.2%.
Initial Jobless Claims (Jan 10) printed at 204k vs 216k.
Retail Sales (MoM) (Dec) printed at estimate of 0.3%.
Business Inventories (Nov) came in at -0.2% vs -0.1% consensus estimate.
EIA Natural Gas Storage Change (Jan 10) printed at -109B vs -95B estimate.
Export Price Index (MoM) (Dec) printed at -0.2% vs 0.2% consensus estimate.
Export Price Index (YoY0 (Dec) printed at -0.7% vs -0.8% estimate.
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