3/15: MetroIntelligence Economic Update by P. DUFFY

January new home sales fell 6.9 percent from December and 4.1 percent year-on-year

Sales of new single-family houses in January 2019 were at a seasonally adjusted annual rate of 607,000. This is 6.9 percent below the revised December rate of 652,000 and is 4.1 percent below the January 2018 estimate of 633,000.

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Producer Price Index edged up 0.1 percent in February, rose 1.9 percent year-on-year

The Producer Price Index for final demand edged up 0.1 percent in February, after falling by the same amount in both January and December, and rose 1.9 percent year-over-year. The ‘core’ index for final demand less foods, energy, and trade services inched up 0.1 percent in February following a 0.2-percent advance in January, and rose 2.3 percent year-on-year.

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Small Business Optimism Index stabilized in February, rising 0.5 points to 101.7

The NFIB Small Business Optimism Index improved modestly in February, increasing 0.5 points to 101.7. Views about future business conditions and the current period as a good time to expand improved as did plans to make capital outlays.

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