The Consumer confidence index surged 6.5 points in February according to the Conference Board. The index now stands at 130.8, its highest level in a year. Business conditions are reportedly strong and consumers feel good about the job market and the economy.

Data from the Bureau of Economic Analysis (BEA), shows that total light (cars and light truck/SUVs), vehicle sales in December were at a seasonally adjusted annual rate, (SAAR) of 18.237 million (M), units, up 383,000 units or 2.1% from November.

Total consumer credit increased by $18.4 billion, (B) in December, below the consensus estimate of $20B. Non-revolving credit advanced by $13.3B while revolving credit moved-up by $5.3B. November’s consumer credit was revised upwards by $2B to $30B essentially offsetting the miss in December.

Seasonally adjusted, (SA) initial claims for unemployment insurance fell by 9,000 to 221,000. The four week moving average (4WMA) was 224,000, 17.0% lower than for the same period last year.

The economy created 148,000 jobs in January, 38.5% of these were in the Goods producing industries and 61.5% in Service providing sector. The total number of seasonally adjusted (SA), non-farm people employed in the U.S.

The three month moving average (3MMA), of the Baltic Dry Index (BDI), for January fell 5.7% to 1,413 month on month (m/m). On a 3MMA year on year basis, (y/y), the BDI was 40.8% higher.