U.S. Economic News

U.S. Economic News

April 29, 2021

U.S. Economic Indicators

The advance estimate of Q1 GDP indicates that the U.S. economy expanded at an annualized rate of 6.4% in the first quarter, in line with estimates. The increase in real GDP reflects positive contributions from consumer spending, business investment, residential investment, and government spending that were partly offset by negative contributions from net exports and private inventories. BEA Report

Initial jobless claims decreased 13,000 to 553,000 last week. The four-week moving average decreased 44,000 to 611,750. DOL Report

The National Association of Realtors Pending Home Sales Index increased 1.9% in March (up 23.3% Y/Y). Over the past month, pending home sales rose in the Northeast, South, and West but declined in the Midwest. NAR Report

U.S. Economic News

U.S. Economic News

April 28, 2021

U.S. Economic Indicators

The U.S. Census Bureau Advance Economic Indicators Report shows that the goods deficit widened to $90.6 billion in March from $87.1 billion in February. Meanwhile, wholesale inventories rose 1.4% and retail inventories fell 1.4%. Census Bureau Report

U.S. News

The New York Times reports that domestic manufacturers are struggling with shortages of labor and parts as demand for goods surges amid the overall economic recovery. Factory production is expected to return to pre-pandemic levels by the third quarter of this year, but long-term trends suggest rebuilding employment in the manufacturing sector will be difficult, as manufacturing failed to fully recover lost jobs after each of the past several U.S. economic downturns. NYT

U.S. Economic News

U.S. Economic News

April 27, 2021

U.S. Economic Indicators

The Conference Board Consumer Confidence Index rose from 109.0 (revised) in March to 121.7 in April, its highest level since February 2020. The increase in the index was driven by improvement in consumers’ assessment of current business and labor market conditions. Conference Board Report

U.S. News

The Wall Street Journal reports that nearly 1.5 million fewer mothers of school-aged children were actively working in March 2021 compared to February 2020, highlighting the slow recovery of women’s participation in the workforce. Economists worry that the pandemic has exacerbated existing inequities for working mothers by weakening mothers’ ties to the workforce and making it more difficult for them to advance in their careers. WSJ

U.S. Economic News

U.S. Economic News

April 26, 2021

U.S. Economic Indicators

New orders of manufactured durable goods rose 0.5% in March after falling 0.9% (revised) in February. Excluding transportation, new orders increased 1.6% after decreasing 0.3% the month before. Census Bureau Report

U.S. News

Bloomberg reports that a surge in global crop prices is adding to fears of food inflation, with wheat, corn, and soybean prices all experiencing multi-year highs. Adverse weather conditions across the Americas and Europe risk weighing on production at the same time that inventories are low and demand from China is strengthening. Bloomberg

U.S. Economic News

U.S. Economic News

April 23, 2021

U.S. Economic Indicators

New home sales rose 20.7% in March to a seasonally adjusted annual pace of 1,021,000 and were up 66.8% above year-ago levels. The median sales price decreased to $330,800 and the inventory of new homes fell to 3.6 months at the current sales rate. Census Bureau Report

U.S. News

Bloomberg reports that the U.S. economy may be in for a period of stronger productivity growth after decades-long stagnation. Companies are poised to further increase efficiency, employees are returning to work, and President Biden is pushing for policies to ramp up investment in productivity-enhancing infrastructure. Bloomberg