Commentary

U.S. Producer Prices rose 0.5% in January, versus 0.2% expected. The Index of Leading Indicators was up 0.8% for January, while the Flash Services PMI came in right around 50.

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The U.S. Consumer Price Index was up 0.1% for the month of January 2020, and up 2.4% for the year ended January 2020. Core CPI was up 0.2% for the month. Retail Sales were up 0.3% for January, approximately as expected.

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The U.S. Purchasing Managers' Index was 51.9 for January, while the ISM Manufacturing Index was 50.9. Both came in above the median forecast. Construction Spending was down 0.2% for December, while Factory Orders were up 1.8%.

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