U.S. Economic News

April 17, 2018

U.S. Economic Indicators

Privately-owned housing starts rose 1.9% in March to a seasonally adjusted annual rate of 1.32 million (up 10.9% year-over-year). Housing permits increased 2.5% to a 1.35 million annual pace in March and are up 7.5% on the year.  Census Bureau Report

Industrial production rose 0.5% in March (up 4.3% Y/Y), after jumping 1.0% (revised) in February.  
Capacity utilization rose 0.3 point to 78.0 in March.  Fed Report

U.S. News

The Wall Street Journal reports that China has announced a new duty — which will take effect tomorrow — of 178.6% on imports of U.S. sorghum. The duty, a result of an anti-dumping investigation by Chinese authorities, is seen as preliminary and is a response to tariffs on Chinese solar panels and washing machines. WSJ
According to the Financial Times President Trump has nominated Richard Clarida to be vice-chair of the Federal Reserve and Michelle Bowman to be another board member. Clarida is a former Treasury Department official who has supported the view that low interest rates may be here to stay due to structural forces in the economy, while Bowman is a top bank regulator from Kansas. FT

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