- A survey by the National Association for Business Economics increased its estimate of first quarter U.S. GDP growth from an annual rate of 3.4% to 4.5%.
- New home sales fell 5% in January to the lowest level in a year, the Commerce Department reported Monday. Sales fell for the fourth time in six months during a balmy January, while the number of homes on the market hit a record high (Ed. Note: Right now, the number of homes on the market in the United States is 528,000) - the largest supply of homes in nine years. Sales are down four times in six months. December home sales rose 3.8%. Sales fell 7.0% in November, rose 7.7% in October, sank 2.0% in September and fell 7.1% in August.
- China should reduce the dollar share of its foreign exchange reserves because of the risks posed by the instability of the U.S. currency, influential economics professor Xiao Zhuoji said in an interview published on Monday.
- Hawkish comments by Bank of Japan governor Toshihiko Fukui last week fueled expectations the central bank will end its ultraeasy monetary policy around April.
- Canada's exports were up C$6.1 billion because of higher energy prices. Imports were up C$2.1 billion.
- YoY Japan's exports of cars, trucks and buses jumped 17.3% in January, rising for the sixth straight month.
- Intel Corp announced plans Tuesday to build a $300-million chip assembly and testing factory in southern Vietnam