I am trying to figure out the economic numbers relative to the weather disruptions that the U.S. has experienced this winter. I have come to the conclusion that meteorologists are better at predicting the weather than economists are at predicting the economy.
PPI was okay, no bigee. Mortgage Apps were bad, Housing Starts and Building Permits were not as bad as they could have been, but much worse than economists predicted (See paragraph above).
Economic Event | Period | Economic Survey | Actual Reported | Original Prior | Revised Prior |
MBA Mortgage Applications | 41684 | -- | -4.1% | -2.0% | -- |
PPI Final Demand MoM | Jan | 0.1% | 0.2% | 0.1% | -- |
PPI Ex Food and Energy MoM | Jan | 0.1% | 0.2% | 0.0% | -- |
PPI Final Demand YoY | Jan | 1.2% | 1.2% | 1.1% | -- |
PPI Ex Food and Energy YoY | Jan | 1.4% | 1.3% | 1.2% | -- |
Housing Starts | Jan | 950K | 880K | 999K | 1048K |
Housing Starts MoM | Jan | -4.9% | -16.0% | -9.8% | -4.8% |
Building Permits | Jan | 975K | 937K | 986K | 991K |
Building Permits MoM | Jan | -1.6% | -5.4% | -3.0% | -2.6% |
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Life is good! The alternative? Not so much.
John Broussard
Assistant State Treasurer
Chief Investment Officer
State of Louisiana
Department of the Treasury
225-342-0013
jbroussard@treasury.state.la.us
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