Looking at just the jobless filings, the labor market seems healthy, but February CPI numbers, as well as real wage growth numbers, came in on Wednesday. Growth in average hourly earnings, adjusted for inflation, came in at just 0.1%. So basically incomes are going nowhere slow. The Atlanta Fed downgraded its already dismal prediction for Q1 GDP. It now sits at just 0.9%. There are a number of different predictors for GDP, but a lot of people watch the Atlanta Fed. Total industrial production was unchanged in February. Manufacturing increased by 0.5%, utilities decreased by 5.7%, mining increased by 2.7%, and capacity utilization was 75.4%. Consumer sentiment creeped up, but not as Green Rush much as was expected.
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