Industrial production increased 0.3% in December, which is a slightly faster pace than expected. Nonetheless, the general forecast of a slowdown in growth for last month proved to be accurate. That’s not a surprise, given the sharp 1.0% rise in industrial production in November, which was primarily due to an unsustainable snapback after the weather-related interruptions from Hurricane Sandy in October. Overall, industrial activity continues to grow a modest pace. December’s report brings another positive contribution to the year-end economic profile. With today’s update, there’s even a stronger case for arguing that the economy ended 2012 in an expansion mode. But the latest news on the industrial front also raises some new challenges for thinking about January’s numbers and beyond.
Daily Archives: January 16, 2013
Housing Starts: December 2012 Preview
Housing starts in December are expected to rise 3.1% on a seasonally adjusted monthly basis, according to The Capital Spectator’s average econometric forecast. That compares with a 3.0% decline in the previous report. The projection is roughly in line with consensus forecasts from economists.
Weekly Jobless Claims: 12 January 2013 Preview
Initial claims for jobless benefits will decline slightly in tomorrow’s weekly update, based on The Capital Spectator’s average econometric forecast. New claims for the week through January 12 will dip to 369,000 on a seasonally adjusted basis vs. the previously reported 371,000. The projection is in line with consensus forecasts via surveys of economists.