U.S. industrial production dropped slightly by 0.1% in January following a revised 1.2% increase in December, though the manufacturing sector posted an increase. Capacity utilization also showed a month-to-month drop of 10 basis points to 76.1%. Both readings came in below expectations of gains in production by 0.5% and utilization to 76.3%.
Housing starts in the U .S. increased 14.6% in January to 596,000, seasonally adjusted. The reading was significantly higher than the expected 0.2% gain and also a step up from the downwardly revised drop of 5.1% in December. However, new building permits, which are indicators of future construction, decreased by 10.4%, a sharp decrease from the 15.3% gain posted in December but not as severe as economists had expected.
The producer price index for January increased by a seasonally adjusted 0.8% from December, aided by higher energy prices. Core prices also increased by 0.5% in January, exceeding expectations and also signaling stronger potential for inflation, though pressures currently remain tepid.
(data is good. very good, market gap up again. Very strong. )
(not easy to buy dip. it's very hard that the market to touch the 1300 in one or two months. so under 1320/1330 is a buy anytime in this month. )
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