Commentary

The National Association of Homebuilders Index came in at a strong 83 for January, approximately flat with the level in December. Any level towards and below 50 indicates homebuilders are concerned with the current homebuilding environment.

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The U.S. NFIB Small-Business Index came in at 98.9 for December, slightly up from November. The overall Consumer Price Index was up 0.5% for the month of December, and up 7.0% year-over-year into December.

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The Markit Manufacturing Purchasing Managers' Index came in at 57.7 for December versus 57.8 for November. The ISM Manufacturing Index came in at 58.7 versus 61.1 for similar months.

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