Manufacturing Recession Has Ended.

Redbook Chain Store Sales (week ended 3/19/2016)

– Store Sales year/year +0.8%. Previous was +0.6%

This is slow growth and, to the extent that Redbook is a measure of overall Retail sales, a disappointing sign for 1stQ2016GDP.

FHFA House Price Index (January 2016)

– Prices month/month +0.5%. Previous was +0.5%
– Prices year/year +6.0%. Previous was +5.7%.

These are prices only for homes purchased with FNMA or FHLMC loans.

 

Richmond Federal Reserve Manufacturing Index  (March 2016)

– Index level 22. Previous was -4.

This makes growth in 3 regional Fed manufacturing indices.

 
PMI Manufacturing Index Flash  (March 2016)

– Index level 51.4. Previous was 51.0.

This and regional Fed manufacturing indices show manufacturing expanding again after two weak quarters.