It was a busy week with lots of economic news released. The stock market remained nearly flat for the week while the national average for mortgage rates dipped another 7 basis points. The CPI declined 0.7% in January. New Single Family Homes and Existing Home Sales both declined in January but are up 5.3% from a year ago.
Last week in the economy:
- The S&P 500 started the week at 2,110 and dropped 0.25% to end the week at 2,105.
- Mortgage rates (The national average) fell 0.07% (7 basis points) last week.
- Real GDP was revised to a 2.2% annual growth rate in Q4 from a prior estimate of 2.6%
- New orders for durable goods increased 2.8% in January. Orders are up 5.4% from a year ago.
- The CPI (Consumer Price Index) declined 0.7% in January. The CPI is down 0.1% from a year ago.
- New Single Family Home Sales Declined 0.2% in January. Sales are up 5.3% from a year ago.
- Existing Home Sales Declined 4.9% in January. Sales are up 3.2% from a year ago.
What's on the economic calendar for the week of March 2, 2015
- Monday: Personal Income and ISM Manufacturing will be released
- Thursday: Jobless Claims will be released
- Friday: The Employment Situation and International Trade will be released
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Our trusted source for all economic news is First Trust Portfolios out of Wheaton, IL. For greater insights on these figures check out their blog here.