U.S. Economic News

March 15, 2018

U.S. Economic Indicators

The NAHB Housing Market Index edged down 1.0 point to 70.0 in March, the third consecutive monthly decline.  The outlook for the next six months declined modestly, as builders have struggled to find available lots.  NAHB Report
Initial jobless claims fell 4,000 to 226,000 last week.
The four-week moving average decreased 750 to 221,500.  DOL Report

The March Empire State Manufacturing Survey indicated that industrial activity in the New York region grew robustly, as the headline index jumped 9 points to 22.5.  The new orders index rose to 16.8, the shipments index increased to 27.0, and the index for number of employees held steady at 9.4; meanwhile, hours worked edged up.  NY Fed Report

U.S. News

The Wall Street Journal reports that President Trump has selected Larry Kudlow to serve as the new director of the National Economic Council. Although Kudlow was opposed to recent tariffs on steel and aluminum, he has also been a strong supporter of recent tax cuts and deregulation pursued by the current administration. WSJ

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