Construction Spending up but SFR Construction Spending down.

Redbook Chain Store Sales (week ended 2/27/2016)

– Store Sales year/year +0.6%. Previous was +1.2%

 

PMI  Index (February 2016)

– Index level 51.3. Previous was 52.4
This is a survey index questioning purchasing managers at selected companies.

 

ISM Manufacturing Index (February 2016)

– ISM manufacturing Index 49.6. Previous was Previous was 48.2.
This is a diffusion index based on the answers from a monthly survey of manufacturers.

 

Construction Spending  (January 2016)

– Construction Spending month/month +1.5%. Previous was +0.6%
– Construction Spending year/year +10.4%

Spending on single-family homes was down 0.2%. We continue to see a trend away from single-

family Housing Starts.  Not exactly good news for those of us in the mortgage business.