THE ECONOMY.(TO THE POINT)

Mortgage decline drags on ECRI

The Economic Cycle Research Institute's leading U.S. activity index fell 0.6 to 132.7 in the week ended Jan. 23. Weaker mortgage applications offset higher commodities and stock prices. The index's four-week annualized growth rate rose to 10.8% from 10.1% a week earlier.

** The University of Michigan's consumer confidence index registered a final reading of 103.8 in Jan., up from a preliminary Jan. reading of 103.2 and Dec.'s 92.6.

EU won't delay sanctions vs. U.S.

U.S. officials had asked the EU to extend its March 1 deadline for implementing trade sanctions. EU officials said the U.S. has had enough time to scrap its tax breaks for exporters, the source of the rift. The WTO has authorized the EU to impose up to $4 bil in sanctions on U.S. exporters.

** Euro zone industrial confidence improved to -7 in Jan. from -8 in Dec., the European Commission Union said. But the region's consumer confidence stayed at 16.

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