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The Economy

March 4, 2015 | Weekly Commentary

Last week the positive economic reports exceeded the negative. Following are the positives:

  1. Durable goods orders increased 2.8% vs 1.6% expected
  2. Case-Shiller home prices rose 0.87% month over month and 4.46% year over year, both above estimates.
  3. Core consumer prices rose 0.2% month over month vs +0.1% expected.
  4. Pending home sales grew 1.7%, less than the 2% expected gain but still hit 18-month highs.
  5. Revised Q4 Gross Domestic Product came in at +2.2%, down from the 2.6% initially estimated but better than the 2% expected revision.
  6. University of Michigan consumer confidence came in at 95.4, higher than expected.


  1. Chicago Purchasing Mangers Index fell to 45.8 vs expectations of 59.4, lowest since July 2009.
  2. Existing home sales fell 4.9% month over month vs expectations of a 1.8% decline
  3. US initial jobless claims rose 31k to 313k last week vs 290k expected.
  4. Dallas fed manufacturing index fell to -11.2, down from -4.4 in January and below the expected reading of -4
  5. S. oil rigs decline for the 12th straight week.

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