U.S. Economic News

U.S. Economic News

April 25, 2019

U.S. Economic Indicators

Initial jobless claims increased 37,000 to 230,000 last week. The four-week moving average rose 4,500 to 206,000. DOL Report

New orders of manufactured durable goods increased 2.7% in March after falling 1.1% (revised) in February and are up 3.0% compared to a year ago. Excluding transportation, new orders increased 0.4% (up 2.4% from last year). Census Bureau Report

U.S. News

The Financial Times reports that governments of rich nations are failing to prepare workers for the impact of artificial intelligence, according to a new report by the OECD. The report found that around 14% of existing jobs could disappear over the next two decades as a result of automation, with retail, manufacturing, and food and hospitality services most heavily impacted. FT

Bloomberg reports that European Central Bank officials are optimistic that growth in the euro area will pick up in the second half of 2019. The expected improvement is contingent on stronger industrial production, continued recovery in China, and de-escalation of the trade conflict with the U.S. Bloomberg

U.S. Economic News

U.S. Economic News

April 24, 2019

U.S. News

The Financial Times reports that a new study by the European Central Bank found that escalations in global trade barriers could reduce U.S. GDP by 2.0% relative to the baseline expectation. The ECB’s research found that after one year of heightened trade tensions, U.S. economic growth would be hurt more than growth in Europe or China. FT

According to the Financial Times, business confidence in Germany weakened unexpectedly in April as sentiment deteriorated sharply in manufacturing and trade. Conditions continue to worsen for Europe’s largest economy despite signs of a rebound in the U.S. and China. FT

The New York Times reports that the effective U.S. minimum wage is at an all-time high at $11.80 an hour. Although the federal minimum wage has remained unchanged at $7.25 for the last decade, 89% of the nation’s minimum-wage employees earn higher wages due to state- and city-level minimum wages set above the federal level. NYT

U.S. Economic News

U.S. Economic News

April 23, 2019

U.S. Economic Indicators

New home sales rose 4.5% to a seasonally adjusted annual pace of 692,000 in March, and are 3.0% above the March 2018 rate. The median sales price fell to $302,700 and the inventory of new homes edged down to 6.0 months at the current sales rate. Census Bureau Report

The FHFA House Price Index shows that U.S. house prices rose 0.3% in February and were up 4.9% from year-ago levels.  Year-over-year house price changes were positive in all nine census divisions. FHFA Report

U.S. News

Anne Tergesen of the Wall Street Journal reports that American workers’ and retirees’ confidence in their retirement finances has risen to all-time highs due to a strong economy and high stock prices. The annual survey conducted by the Employee Benefit Research Institute found that 82% of retirees and 67% of workers are optimistic about their ability to live comfortably in retirement, up from 75% and 64% last year. WSJ

U.S. Economic News

U.S. Economic News

April 22, 2019

U.S. Economic Indicators

The Chicago Fed National Activity Index rose from -0.31 (revised) in February to -0.15 in March. The employment, production, and sales, orders, and inventories categories contributed positively, while the personal consumption and housing category contributed negatively. Chicago Fed Report

Existing home sales fell 4.9% to a seasonally adjusted annual rate of 5.21 million in March, and are down 5.4% compared to a year ago. NAR notes that sales activity is underperforming relative to the strong labor market, and the impact of lower mortgage rates has yet to be fully realized. NAR Report

U.S. News

The Wall Street Journal reports that recent public remarks by Federal Reserve officials suggest that while a rate cut is not likely in the near term, officials are starting to discuss changing the threshold for cutting rates. Some Fed officials are open to lowering interest rates if core inflation continues to drift below the Fed’s 2.0% target, while those opposed to cutting rates are becoming increasingly hesitant to raise them. WSJ

U.S. Economic News

U.S. Economic News

April 19, 2019

U.S. Economic Indicators

Privately-owned housing starts decreased 0.3% in March to a seasonally adjusted annual rate of 1.14 million (down 14.2% year-over-year). Housing permits dropped 1.7% to a 1.27 million annual pace in March and are down 7.8% on the year.  Census Bureau Report

U.S. News

The Wall Street Journal reports that Dallas Federal Reserve President Robert Kaplan stated that improving U.S. economic growth is unlikely to change his belief that short-term interest rates are set appropriately. Recent reports that consumer spending improved and the trade deficit narrowed suggest economic growth was stronger in the first quarter than previously estimated. WSJ

The Financial Times reports that according to analysis by the International Trade Commission, the USMCA trade deal would be a tailwind for U.S growth and a boost for the automotive sector in particular. The trade agreement is forecasted to add 0.35 percent to U.S. GDP and expand exports to Canada and Mexico. FT

Page 1 of 17412345...102030...Last »