Monday’s report on personal consumption spending for January is projected to show a gain of 0.3% vs. the previous month, based on The Capital Spectator’s median econometric forecast. That’s slightly below the previously released 0.4% increase for December. Meanwhile, the Capital Spectator’s median forecast for January is slightly higher than a consensus prediction based on a survey of economists.
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The ISM Manufacturing Index is headed for a marginal decline to 50.5 in Monday’s February update (scheduled for release on March 3), based on The Capital Spectator’s median econometric forecast. By comparison, the index was estimated at 51.3 in the January report. Meanwhile, the Capital Spectator’s average projection is moderately below a consensus forecast drawn from a survey of economists.
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The new Fed Chair Janet Yellen thinks the economy will revive in the spring. “It’s really quite a range of data that has been soft recently,” she told the Senate Banking Committee yesterday. “I think it’s clear that … unseasonably cold weather has played some role in much of that.”
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