by Bill McBride on 2/25/2015 08:45:00 PM
Wednesday, February 25, 2015
First, from the ATA: ATA Truck Tonnage Index Jumped 1.2% in January
American Trucking Associations’ advanced seasonally adjusted For-Hire Truck Tonnage Index increased 1.2% in January, following a revised gain of 0.1% during the previous month. In January, the index equaled 135.7 (2000=100), an all-time high.Thursday:
Compared with January 2014, the SA index increased 6.6%, which was the largest year-over-year gain in over a year.
ATA recently revised the seasonally adjusted index back five years as part of its annual revision. For all of 2014, tonnage was up 3.7%, slightly better than the 3.4% originally reported. In 2013, the index increased 5.5%.
“Truck tonnage continued to improve in January, marking the fourth straight gain totaling 3.5%,” said ATA Chief Economist Bob Costello. “Last year was slightly better for truck tonnage than we originally thought and I am expecting that momentum to continue in 2015.”
• At 8:30 AM ET, the initial weekly unemployment claims report will be released. The consensus is for claims to increase to 290 thousand from 283 thousand.
• Also at 8:30 AM, the Consumer Price Index for January. The consensus is for a 0.6% decrease in CPI, and for core CPI to increase 0.1%.
• Also at 8:30 AM: Durable Goods Orders for January from the Census Bureau. The consensus is for a 1.7% increase in durable goods orders.
• At 9:00 AM, FHFA House Price Index for December 2014. This was originally a GSE only repeat sales, however there is also an expanded index. The consensus is for a 0.5% increase.
• At 11:00 AM: the Kansas City Fed manufacturing survey for February.
Posted by Bill McBride on 2/25/2015 08:45:00 PM