U.S. Economic News

February 28, 2018

U.S. Economic Indicators

The National Association of Realtors Pending Home Sales Index fell 4.7% in January (down 3.8% Y/Y).  NAR says that the housing market has shown weakness in the beginning of 2018, as woefully low supply and rising mortgage rates price many prospective buyers out of the market.  NAR Report
 
The second estimate of Q4 GDP indicates that the U.S. economy expanded at an annualized rate of 2.5%, slightly below the advance estimate.
The reading reflects healthy consumer spending, business investment, residential investment, as well as strong contributions from government spending. BEA Report

U.S. News

The Wall Street Journal reports that Federal Reserve Chairman Jerome Powell says that his economic outlook has brightened in recent months. Powell also says that he sees continuing strength in the labor market, that inflation may be showing signs of picking up, and that recent corporate tax cuts will boost consumer spending. WSJ

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