Wells Fargo Weekly Economic & Financial Commentary

Weather Effects Continue to Influence Economic Data

· Housing starts plunged 16 percent in January to an 880,000-unit pace. Building permit activity also declined for the month but not as sharply.

· Inflation indicators continued to reflect subdued price pressures on businesses and consumers. The new producer price final demand index rose a modest 0.2 percent in January while the Consumer Prices Index posted a slight 0.1 percent rise for the month.

· The leading economic index rose 0.3 percent in January, indicating continued modest economic activity in the months ahead.

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 Weekly Economic & Financial Commentary, Feb. 21