Breakfast Bites: Equities are trading in positive territory on better than expected Jobless claims and strong retail sales but held in check by a gauge of manufacturing that trailed estimates in combination with government data that showed construction spending unexpectedly declined.
- Applications for employment insurance decreased by 2,000 in the week ending Feb 25th to 351,000, matching a 4 year low, more evidence that the labor market is healing.
- Consumer spending in the US rose less than forecast (+0.2%) in January showing a lack of improvement in the biggest part of the economy. Personal Incomes increased 0.3% less than the 0.5% median estimate.
- China's factory sector grew more than expected in February as export orders expanded for the first time in four months,
- Consumer Confidence in the US held close to almost a 4 year high last week as pessimism about the performance of the economy eased. Last week’s reading was 38.8 vs. the previous period when it was 38.4
- The Institute for Supply Management’s factory index fell to 52.4 in February from 54.1 a month earlier.
- Construction Spending during January was estimated at $827 billion -0.1% below the revised December estimate of $827.6 billion