Four interesting economic events are happening today.
From Calculated Risk:
• At 8:30 AM, Housing Starts for January. Total housing starts were at 999 thousand (SAAR) in December. Single family starts were at 667 thousand SAAR in December. The consensus is for total housing starts to decrease to 950 thousand (SAAR) in January.
• Also at 8:30 AM, the Producer Price Index for January. The consensus is for a 0.2% decrease in producer prices (and 0.2% increase in core PPI).
• During the day, the AIA’s Architecture Billings Index for January (a leading indicator for commercial real estate).
• At 2:00 PM, the FOMC Minutes for the Meeting of January 28-29, 2014.
Each one of these is pretty important. Housing Starts will give us more information about the latest pause in the data in housing. Those concerned about inflation will be watching PPI. Architectural Billing is always fascinating, and FOMC Minutes are FOMC Minutes, so we’ll gain more insight into the biggest game in town. None of it is too huge, but it should all give us a bit more colour.