A review of last week’s economic news finds December housing starts below and new permits exceeding expectations. While consumer confidence rose, initial jobless claims and GDP were worse than expected and durable orders were down. The stock market had three days of sell off however we did not see the flight to quality often seen when stocks slide. Many economists cite constant fear of the actual direction the economy is headed and reference this weeks’ non-farm payroll release a market mover. Those on either side of the economy recovering debate will be closely watching the report for signs of continued weakness or a bounce from the bottom. 2010 has been predicted to see higher interest rates, the question remains when and how fast the rise will occur. Stay tuned!
Below is a snapshot of this week’s economic data releases:
Monday: Dec. Personal Income
Spending
PCE Index
Jan. Institute of Supply Management
Tuesday: No economic release scheduled
Wednesday: Jan. Institute of Supply Management Service Sector Index
Thurs: Initial Jobless claims for the weekend ended 01/30
1st estimate Q4 Productivity & Unit Labor Costs
Dec. Factory Orders
Fri: Jan. Nonfarm Payrolls
Jobless Rate
Average Hourly Earnings
Tuesday, February 2, 2010
Mortgage Minutes
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