Market Commentary

Delayed Statistics

etf vs etn

From the government shut down, that ended a couple of weeks ago, we are still getting delayed economic numbers coming out of Washington. This week productivity and unit labor costs for the fourth quarter are delayed. The trade imbalance for December has been pushed back as well.

There was a November report that was previously delayed that came in, Factory Orders, and it was down .6% with expectations for it to be down .2%.

However, there are signs that they are catching up, for instance this week the ISM non-manufacturing index for January came in on time. The number fell slightly from 58.0 to 56.7. That is still a very good number. Anything over 50 indicates growth in the economy and the service sector is our most important area of economic activity.

Another week or two should bring the backlog up to date unless of course there is another shut down.

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