The Housing Chronicles Blog: BuilderBytes' MetroIntelligence Economic Update for 3/16/12

Friday, March 16, 2012

BuilderBytes' MetroIntelligence Economic Update for 3/16/12

Please click here to see the edition of BuilderBytes for 3/16/12 on the Web. A lot of news this week!

In this issue of the MetroIntelligence Economic Update, I covered the following indicators:
  • FOMC holds rate at .25%, observes continued moderate economic expansion
  • Producer Price Index rose by 0.4% in February, up by 3.3% over previous 12 months
  • Empire State Manufacturing Survey indicates high degree of optimism and increased spending
  • Philadelphia Federal Reserve's Business Outlook Survey also points to continued optimism
  • Initial claims for unemployment fall by 14,000 in most recent survey
  • Trade deficit widens in January as imports rise faster than exports
  • Overall mortgage applications fall by 2.4%, although purchase loans rise by 4.4% in latest survey

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