U.S. Economic News

June 27, 2017

U.S. Economic Indicators

The Conference Board’s Consumer Confidence Index inched up from 117.6 to 118.9 in June.  The rise was driven in part by an increase in the Present Situation Index while the Expectations Index edged down.  Conference Board Report
 
The S&P/Case-Shiller Home Price Index indicated an increase in home prices, as the seasonally adjusted 20-city average rose 0.3% in April (up 5.7% Y/Y).
Analysts say that rising mortgage rates and a tight supply of homes will likely drive up prices in the future. Report

U.S. News

The International Monetary Fund (“IMF”) has lowered its forecast for U.S. economic growth in 2017 and 2018 to 2.1%.  The IMF does not expect tax reform or significant infrastructure spending to boost economic activity either this year or next, and the organization believes that structural problems such as an aging population and lagging productivity will hinder growth. WSJ

The Wall Street Journal reports that the Trump administration has begun to hold public hearings regarding its plan to renegotiate the North American Free Trade Agreement (“NAFTA”).  The public hearings will include testimony from leading trade groups, academics, and other industry leaders who hope to influence the administration’s discussions with Mexico and Canada. WSJ

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