1/22: MetroIntelligence Economic Update by P. DUFFY

December new home mortgage applications fell 13.0 percent from November and 6.1 percent year-on-year

The Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data for December 2018 shows mortgage applications for new home purchases decreased 13.0 percent from November and 6.1 percent from a year ago.

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January consumer sentiment drops sharply in early survey

Consumer sentiment declined in early January to its lowest level since Trump was elected, falling from 98.3 to 90.7.  The loss was due to a host of issues including the partial government shutdown, the impact of tariffs, instabilities in financial markets, the global slowdown, and the lack of clarity about monetary policies.

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December industrial production up 0.3 percent from November and up 4.0 percent year-on-year

Industrial production increased 0.3 percent in December after rising 0.4 percent in November. For the fourth quarter as a whole, total industrial production moved up at an annual rate of 3.8 percent.  At 109.9 percent of its 2012 average, total industrial production was 4.0 percent higher in December than it was a year earlier.

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