USA • The Bureau of Economic Analysis put out its first estimate of Q4 GDP growth. The economy reportedly expanded an annualized 6.9% in the quarter, which was more than the +5.5% print expected by consensus. Following on the heels of a 2.3% expansion in Q3, this gain hoisted economic output 3.1% above its pre-crisis [...]
USA • Housing starts jumped from 1,678K in November to a nine-month high of 1,702K in December, overshooting the 1,650K print expected by analysts. The monthly gain was entirely due to a 10.6% gain in the multi-family segment (to 530K). Starts in the single-family category inched down 2.3% to 1,172K. On a quarterly basis, total [...]
USA • The Consumer Price Index rose 0.5% MoM in December after climbing 0.8% the prior month. The result was stronger than the +0.4% print expected by consensus. The energy component registered its first decline in seven months, retracing 0.4% thanks in part to a 0.5% drop in the gasoline segment. The cost of food, [...]
USA • Nonfarm payrolls rose just 199K in December, a lot less than the +450K figure expected by consensus. Partially compensating for this disappointing result, the prior months’ results were upgraded a massive 141K. The private sector added 211K jobs. Employment in the goods segment sprang 54K thanks to gain in manufacturing (+ 26K), construction [...]
