U.S. equity futures dipped after investors digested sluggish retail sales data in January (climbing 0.3%) and December figures were revised downward. Additionally, U.S. factor output fell MoM, as Boeing production halts continue to weigh on overall manufacturing and the broader economy. Manufacturing output declined 0.1% in January, but that figure can be misleading. Factory output excluding aircraft and parts actually rose 0.3%, suggesting relative stability across other manufacturing sectors. To that end, it is expected the spread of coronavirus will have some disruption on supply chains and demand globally in the coming months, potentially weighing on U.S. manufacturing. Although, as coronavirus continues to weigh on market sentiment, following the recent revision in documented cases, major equity indices are heading towards their 2nd successive week of gains.
Michael Oravetz
Director, Investment Management Group
Date | Event | Survey | Actual | Prior | Revised |
2/14/2020 | Import Price Index MoM | -0.20% | 0.00% | 0.30% | 0.20% |
2/14/2020 | Import Price Index ex Petroleum MoM | -0.10% | 0.20% | 0.20% | — |
2/14/2020 | Import Price Index YoY | 0.20% | 0.30% | 0.50% | — |
2/14/2020 | Export Price Index MoM | -0.10% | 0.70% | -0.20% | — |
2/14/2020 | Export Price Index YoY | -0.20% | 0.50% | -0.70% | -0.90% |
2/14/2020 | Retail Sales Advance MoM | 0.30% | 0.30% | 0.30% | 0.20% |
2/14/2020 | Retail Sales Ex Auto MoM | 0.30% | 0.30% | 0.70% | 0.60% |
2/14/2020 | Retail Sales Ex Auto and Gas | 0.30% | 0.40% | 0.50% | — |
2/14/2020 | Retail Sales Control Group | 0.30% | 0.00% | 0.50% | 0.20% |
2/14/2020 | Industrial Production MoM | -0.20% | — | -0.30% | — |
2/14/2020 | Capacity Utilization | 76.80% | — | 77.00% | — |
2/14/2020 | Manufacturing (SIC) Production | -0.10% | — | 0.20% | — |
2/14/2020 | Bloomberg Feb. United States Economic Survey | ||||
2/14/2020 | Business Inventories | 0.10% | — | -0.20% | — |
2/14/2020 | U. of Mich. Sentiment | 99.5 | — | 99.8 | — |
2/14/2020 | U. of Mich. Current Conditions | 114 | — | 114.4 | — |
2/14/2020 | U. of Mich. Expectations | 90 | — | 90.5 | — |
2/14/2020 | U. of Mich. 1 Yr Inflation | 2.40% | — | 2.50% | — |
2/14/2020 | U. of Mich. 5-10 Yr Inflation | — | — | 2.50% | — |
2/14/2020 | Revisions — Producer Price Index |
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