Sunday, 18 October 2009

From minus 35 in March

the annualized CPI figure fell by 0.4% compared with +0.2% a year earlier. The core CPI figures increased by 0.2% on a monthly basis while the remaining unchanged at 1.8% on a yearly basis. The NY Fed manufacturing survey for April improved to -14.65 from a month earlier at -38.23. Industrial output was unchanged in March, falling by 1.5%, while capacity utilization eased to 69.3% from 70.2%. Lastly, the NAHB housing market index unexpectedly improved to 14 in April, beating expectations for an increase to 10 from 9 in March.The calendar for Thursday consists of weekly jobless claims, March housing starts, housing permits and Philadelphia Fed survey. Weekly jobless are seen creeping up to 655k from 654k. Housing starts in March are expected to decline to 550k units, down from 583k units, while housing permits are seen easing to 550k from 564k a month earlier. Lastly, the April Philadelphia Fed business survey is estimated to improve to minus 32 from minus 35 in March.

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