10 Things You Need to Know - March 7, 2017

Key data releases this week include: durable goods (Mon), consumer credit (Tue), nonfarm productivity (Wed), ECB policy meeting (Thu), and nonfarm payrolls (Fri).
Haver
February 28, 2017
Estimates of economic performance last quarter were little changed from the advanced estimates. Growth of 1.9% in Q4'16 GDP equaled the estimate issued last month; it followed a 3.5% gain in Q3. During all of last year, growth decelerated to 1.6% from 2.6% in 2015. The Q4 figure fell short of expectations for a 2.1% rise in the Action Economics Forecast Survey.
Haver
February 28, 2017
The Conference Board Consumer Confidence Index for February jumped to 114.8, the highest level since July 2001. The Action Economics Forecast Survey had looked for a modest decline to 111.0.
Haver
March 1, 2017
Industrial sector activity remains on a strong footing. The ISM composite index of factory sector activity increased to 57.7 during February from an unrevised 56.0 in January. It was highest reading since August 2014. Expectations called for 56.0 in the Action Economics Forecast Survey.
Haver
March 3, 2017
The Composite Index of Nonmanufacturing Sector Activity from the Institute for Supply Management (ISM) increased to 57.6 in February from 56.5 during January. February's reading continued as the highest level since October 2015. The Action Economics Forecast Survey expected an unchanged reading of 56.5.
Reuters
March 1, 2017
The US job market remains tight, and the economy is growing modestly to moderately, according to the Federal Reserve Beige Book. "Businesses were generally optimistic about the near-term outlook but to a somewhat lesser degree than in the prior report," the central bank said.
MNI
March 4, 2017
Chinese Premier Li Keqiang said the government will aim for a growth target of "around 6.5%, or higher if possible in practice" for this year. He also warned that China faces "many salient challenges and problems" in its economy, including those originating from major economies abroad.
Barron’s
March 6, 2017
Federal-funds futures contracts say there’s a 94% probability that the central bank will lift its key interest rate target by 25 basis points, to 0.75% to 1% at the March confab, according to Bloomberg.
Barron’s
March 6, 2017
The eight stocks booted from the Dow since 2004 that are still around – a group including AT&T, Bank of America, and HP Inc. – are up nearly 200%, compared with the Dow’s 100% rise over that time. Something to remember the next time a Dow component gets the boot.
Barron's
March 6, 2017
Capital Economics believes that emerging markets’ golden age is most likely over. They predict developing markets will grow only 4% per year in the next decade, a drastic slowdown from the 6% a year in the past decade. The differential translates into more than $20 trillion in GDP lost, about equal to the U.S. economy.