The Producer Price Index (PPI) for final demand, seasonally adjusted, increased 0.6% in February. This follows a 0.3% increase in January.
News in end use
US Weekly Jobless Claims Inch Lower in the Week Ending March 9th
The advance figure for seasonally adjusted initial unemployment claims was 209,000 during the week ending March 9th, a decrease of 1,000 from last week.
Mortgage Applications Increase in the Week Ending March 8th
Mortgage loan application volume increased 7.1% on a seasonally adjusted basis from one week earlier, the MBA reported.
Despite 2023Q4 Setback, Freddie Mac Multifamily Apartment Investment Market Index Finishes 2023 Up Nationwide
The Freddie Mac Multifamily Apartment Investment Market Index® decreased in Q4 but increased over the full year.
State-Level Analysis of Construction Sector Employment for January
32 states saw month-over-month employment gains in January, 17 lost construction sector jobs, and 2 were unchanged, the BLS and NAHB reported.
Consumer Price Index Increases 0.4% in February; All-Item Index Up 3.2% Year-Over-Year
The Consumer Price Index for All Urban Consumers increased 0.4% in February on as seasonally adjusted basis, after rising 0.3% in January.
US Asking Rents Climb 0.9% Month-Over-Month and 2.2% Year-Over Year in February
The median US asking rent increased 2.2% year-over-year to $1,981 in February, the largest gain reported since January 2023, Redfin reported.
NFIB Small Business Optimism Index Continues to Trend Lower in February
The NFIB Small Business Optimism Index declined to a reading of 89.4, marking the 26th consecutive month below the 49-year average of 98.
Total Outstanding Acquisition, Development, and Construction Loans Decline in 2023Q4
The volume of 1–4-unit residential construction loans made by FDIC-insured institutions declined 2.5% in 2023Q4, the NAHB reported.
US Construction Employment Posts Solid Gain in February
Employment in construction increased by 23,000 in February, the BLS and NAHB reported.