INDICATOR: February Income and Spending
KEY DATA: Consumption: +0.3%; Disposable Income: +0.3%; Prices: +0.1%
IN A NUTSHELL: "If this is winter-constrained spending, I cannot wait to see what happens when people can actually leave their homes."
INDICATOR: February Durable Goods Orders
KEY DATA: Orders: +2.2%; Excluding Transportation: +0.2%; Private capital spending: -1.3%
IN A NUTSHELL: "The demand for big-ticket items jumped in February but not for most products, which simply deepens the confusion about the state of the economy."
INDICATOR: March Consumer Confidence and February New Home Sales
KEY DATA: Confidence: 82.3 (up 4 points); Expectations: up 7 points/New Home Sales: -3.3%
IN A NUTSHELL: "The winter may have frozen out home sales but consumers seem to be warming to the prospects of better times ahead and that bodes well for future growth."
INDICATOR: February Existing Home Sales, Leading Indicators and Jobless Claims
KEY DATA: Home Sales: -0.4%; Prices: +9.1%; Leading Indicators: +0.5%; Claims: 320,000 (up 5,000)
IN A NUTSHELL: "While the winter may have frozen out home sales, it looks like the economy and the labor market continues to firm."
INDICATOR: February Housing Starts and Consumer Price Index
KEY DATA: Starts: -0.2%; Permits: +7.7%/CPI: +0.1%; Excluding Food and Energy: +0.1%
IN A NUTSHELL: "The downside of the winter is that it has slowed a variety of sectors, but in doing so, it has kept inflation in check."
INDICATOR: February Industrial Production
KEY DATA: Total Output: +0.6%; Manufacturing: +0.8%
IN A NUTSHELL: "Manufacturing rebounded in February but averaging the wild swings indicates activity hasn't done much this year."
INDICATOR: February Producer Price Index
KEY DATA: PPI: -0.1%; Goods: +0.4%; Services: -0.3%
IN A NUTSHELL: "With food and energy costs rising sharply once again, consumers will be feeling the pain soon and that is concern for consumption, even if it is not necessarily an inflation issue."
INDICATOR: January Job Openings and Labor Turnover Survey
KEY DATA: JOLTS: Openings: +60,000; Year-over-Year: +281,000; Hires: -43,000; Year-over-Year: +146,000; Quits: -42,000; Year-over-Year: +74,000
IN A NUTSHELL: "Despite a sluggish month of economic numbers, job openings grew and that is another indication that the labor market is in decent shape."