The Commerce Department said U.S. consumer prices increased in January by 0.4%. In the 12 months the PCE price index rose 1.7%.
Consumer spending gained 0.2% in January. When adjusted for inflation, consumer spending fell 0.1%. (Reuters)
The Labor Department said claims for unemployment benefits dropped 10,000 to its lowest level since December 1969. It was the 156th straight week that claims remained below the 300,000 threshold, which is the longest such stretch since 1970.
The Commerce Department reported personal income rose 0.4% in January. Wages increased 0.5%, bolstered by bonuses that businesses gave workers as part of the Trump tax-cut. The saving rate jumped to 3.2%.
The Institute of Supply Management's manufacturing index jumped to 60.8 in February.
The Commerce Department said construction spending was flat in January. Construction spending increased 3.2% on a year-on-year basis.
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.