Thread: There was an incredible amount of positive economic news today.
First, while technically late yesterday, business formations were very solid.
First, while technically late yesterday, business formations were very solid.
Second, retail sales gained 0.3% on the month. But look at those annual and year-over-year gains.
Consumer spending is strong.
Consumer spending is strong.
Third, while one of the more volatile regional manufacturing indexes, the Philadelphia Fed's Manufacturing Business Outlook Survey not only beat the forecast by nearly a factor of SIX, the outlook over the next few months is upbeat.
Fourth, and this isn't in order of timed released, initial jobless claims FELL AGAIN and BEAT AGAIN for the week ending January 11.
We're now at just 204,000 and it's the monthly jobs report period, meaning the next jobs report could be big.
We're now at just 204,000 and it's the monthly jobs report period, meaning the next jobs report could be big.
Fifth, the Housing Market Index (HMI) finds builder confidence started the year very strong, shedding just one point from the month prior, the highest level since 1999.
