USD News

With an increase in inventories of durable goods partly offset by a drop in inventories of non-durable goods, the U.S. Commerce Department released a report on Tuesday showing that wholesale inventories rose by less than expected in December. The report said wholesale inventories increased by 0.3 percent in December after rising by 0.5 percent in November.

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First-time claims for U.S. unemployment benefits unexpectedly showed a modest increase in the week ended February 8th, according to a report released by the Labor Department on Thursday. The report said initial jobless claims rose to 339,000, an increase of 8,000 from the previous week's unrevised figure of 331,000.

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With severe weather curtailing manufacturing production in some regions of the country, the Federal Reserve released a report on Friday showing that U.S. industrial production unexpectedly decreased in the month of January. The report said industrial production fell by 0.3 percent in January after rising by 0.3 percent in December. The pullback came as a surprise to economists.

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The pace of new home building projects fell sharply in January, according to new government figures released on Wednesday. Severe winter weather may have impacted the statistics. The U.S. Commerce Department revealed that housing starts dropped 16 percent to an annual rate of 880,000.

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Wholesale inflation picked up slightly in January, according to new government statistics released Wednesday. Still, the figures matched expectations and remained well within a range that indicates that inflation pressures remain under control. The report included a new way of computing the inflation figures.

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Manufacturing conditions in the Philadelphia region significantly worsened in January due to brutal winter weather, according to the Philadelphia Federal Reserve's survey of business owners.

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Providing further evidence of weakness in the housing market, industry statistics released on Friday indicated a sharper-than-expected slide in home sales in January. Severe winter weather cut into sales, but the market also suffered from longer-term headwinds. Home buyers were constrained by tight credit, limited inventory, higher prices and higher mortgage interest rates.

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With consumers expressing concerns about the short-term outlook for business conditions, jobs, and earnings, the Conference Board released a report on Tuesday showing that U.S. consumer confidence has deteriorated by more than expected in February.

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After reporting a notable drop in new home sales in the previous month, the Commerce Department released a report on Wednesday showing that new home sales unexpectedly saw a sharp rebound in the month of January.

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After reporting a notable drop in new home sales in the previous month, the Commerce Department released a report on Wednesday showing that new home sales unexpectedly saw a sharp rebound in the month of January. The report said new home sales jumped 9.6 percent to a seasonally adjusted annual rate of 468,000 in January from an upwardly revised December rate of 427,000.

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